Intercontinental Exchange (ICE) has made a significant stride in the global equity index market, announcing the introduction of about 600 new equity indices. These span 16 handpicked European countries, including the United Kingdom.
Managed by ICE Data Indices, LLC, these newly minted equity indices are accessible via ICE’s Custom Index Tool. This tool offers a myriad of ways for users to prototype and backtest strategies for various applications such as research, creating benchmarks, designing novel financial products like ETFs, or facilitating services such as direct indexing.
This latest suite of European equity indices is the first phase in the roll-out of the NYSE Global Equity Market Indices. These will provide a transparent, consistent, and investible benchmarking method for the listed security market capitalisation of countries worldwide.
The new suite comprises three types of indices:
- Listed Country Indices: These include qualifying securities listed on eligible exchanges in the respective countries and may serve as starting points for customising additional sector, thematic, ESG, and factor indices.
- Country Indices: These further filter the universe for securities with a matching ICE country of risk, providing single-country index proxies.
- Selected Investible Indices: These include the NYSE U.K. Index Series, such as the NYSE U.K. 100, 250, and 350 Indices, and the NYSE Europe 600 Index. These indices are built off customised rules that are relevant for users of specific local or regional benchmarks.
Furthermore, the Listed Country and Country indices are split into indices covering different size segments, including Large, Mid, Small, Micro, Total Market, and All Cap.
Varun Pawar, Vice President and Head of ICE Data Indices, expressed his excitement at the launch, stating, “Following the launch of our NYSE U.S. 3000 family of equity indices, providing coverage for Europe and the U.K. is a critical step in our goal of providing a premier global equity index offering.”
The new NYSE-branded European equity indices expand ICE’s suite of over 6,000 global equity, fixed income, commodity, and foreign exchange indices. They support all facets of the benchmarking and performance measurement process.
Amanda Hindlian, President of Fixed Income and Data Services at ICE, added, “These indices provide a new set of benchmarking options for customers investing in European markets.”
The fresh suite will encompass Large Cap, Mid Cap, Small Cap, Micro Cap, Total Market, and All Cap indices for Listed Country and Country versions for the following countries: Austria, Belgium, Denmark, Finland, France, Germany, Ireland, Italy, Netherlands, Norway, Poland, Portugal, Spain, Sweden, Switzerland, and the United Kingdom.