The Nasdaq OMX Stockholm exchange has started trading two ETFs providing leveraged long and short exposure to the OMXS30 index.
The HQ OMXS30 Double Long and HQ OMXS30 Double Short ETFs, issued by HQ Bank, offer twice the return of the daily change in the underlying index.
The OMXS30 is calculated by Nasdaq OMX and comprises the 30 largest market capitalisation companies traded on the Stockholm exchange. Nasdaq says the index is the third most traded domestic index in Europe, with more than 400 million derivatives contracts.
Nasdaq OMX Nordic deputy CEO Jenny Rosberg says: "ETFs represent an untapped market potential in the Nordic region and we are planning to launch more products that will give Nordic institutional and retail investors the opportunity to trade world leading brands in their home markets."
HQ Bank CEO Mikael König says: "ETFs are the savings form of the future. As trading products, ETFs are complimentary to our offering and will give tangible customer value."
He adds: "Our aim is to take a leading position within this area."
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