Nasdaq OMX Nordic and HQ Bank have released a portfolio of ETFs in Sweden, enabling Nordic investors to trade a range of indices in local currencies.
HQ Bank will issue the ETFs, which will track indices calculated by Nasdaq OMX and will trade on the Nasdaq OMX Stockholm exchange.
The ETFs will commence trading at the beginning of October, following regulatory approval. HQ Bank says it plans to list 10 ETFs on the Stockholm exchange between the launch in October and January.
Nasdaq OMX Nordic deputy CEO Jenny Rosberg says: "Through this partnership with HQ Bank we are able to offer both institutional and retail investors in the Nordics the same trading opportunities in ETFs as investors around the world."
Rosberg adds that the expansion of the group's ETF offering is an important move in developing the local market in the Nordics, which has great potential for ETFs.
HQ Bank CEO Mikael Konig says that the launch marks an important milestone for the Swedish ETF market.
He adds: "Our ETF portfolio provides a perfect complement to managed funds, and is an investor-friendly and cost-efficient tool for index investments as the products are traded the same way as equities on a liquid market."
Financial Guidance and Claims Bill
Favorable tax treatment
What made financial headlines over the weekend?
The chairman doggedly tries to be amusing
'Profitability is almost a myth'