The FINANCIAL -- The Spanish stock exchange will list a new ETF tomorrow, ACCION IBEX TOP DIVIDENDO ETF, issued by BBVA following approval by the stock market regulator, CNMV.
The ACCION IBEX TOP DIVIDENDO ETF is the first whose underlying asset - the IBEX TOP DIVIDENDO® - is a fundamental index, which besides being a price return index, incorporates dividends.
The Spanish stock market's ETF segment was created on 20 July 2006 and it currently lists 21 funds, of which 16 have been listed this year. BME is looking forward to completing its ETF range by listing ETFs on other underlying indices, thus broadening the range of financial products the markets offers to the financial community.
Exchange Traded Funds (ETFs) are mutual funds that track the performance of an entire index or basket of securities. The ETF participation is traded in real time on an exchange electronic market and is subject to the same conditions as any other security stock.
These investment vehicles have opened up a broad range of investment opportunities for retail and institutional investors by allowing them to gain exposure to different countries, sectors and asset classes with a single stock exchange transaction, in real time and at a lower cost than that of other investment products.