NEW YORK, Apr. 29 (Korea Bizwire) — Nasdaq announced that Recon Capital Partners will list a new exchange-traded fund (ETF), The Recon Capital FTSE 100 ETF (Symbol: UK), which will begin trading on The Nasdaq Stock Market today, April 29, 2015.
“Nasdaq is a leading-edge and modern marketplace, making it the perfect place to list the Recon Capital FTSE 100 ETF,” says Kevin Kelly, CIO of Recon Capital Partners. “It has demonstrated a commitment and a growing presence in the ETP market, which is why we once again turned to the Nasdaq when we decided to launch UK. We believe that Nasdaq’s reputation, coupled with the innovative features of UK, will support a successful investor offering.”
UK is designed to give U.S. investors direct access to the well-capitalized listed companies on the London Stock Exchange. Recon Capital partnered with FTSE and the London Stock Exchange to license its flagship index. The fund will have an initial expense ratio of 45 basis points. UK provides U.S. investors with exposure to the premier benchmarks in Europe and joins its sister product, the Recon Capital DAX Germany ETF (Symbol: DAX), listed on The Nasdaq Stock Market. By utilizing UK and DAX, investors can tap into the strongest economies in Europe and the underlying blue chip companies based in Britain and in Germany.
“Recon Capital launched their first ETF in 2013 and we appreciate their continued confidence in choosing Nasdaq as a primary market listing venue,” said Jeff McCarthy, Vice President, Head of ETP Listings at Nasdaq. “As Nasdaq continues to focus on exchange-traded products, we look to provided continued support to Recon Capital’s innovative product expansion.”
Nasdaq operates an efficient platform for successfully introducing a product suite into one of the single largest pools of liquidity, including market participants which represent a full spectrum of investors. ETF issuers benefit from an end-to-end solution that provides ongoing product support including index licensing, listings opportunities, data offerings and trading services.As the home to some of the world’s most innovative ventures, Nasdaq generates opportunities for issuers to access new markets and deliver new concepts that change the way the industry develops, manages and applies ETFs.
About Recon Capital Partners:
Recon Capital Partners, LLC is an SEC Registered Investment Adviser headquartered in Greenwich, CT that focuses on bringing innovative, efficient, and niche products to the exchange traded fund universe. Recon’s funds are for institutional investors, financial professionals, and individual investors that need liquid, transparent, and cost effective strategies.
Recon Capital uses its investment expertise and operational infrastructures to deliver market-driven, value-added products that meet the evolving needs of global investors.
To visit the fund manager’s website, please visit www.ReconCapitalPartners.com.
Nasdaq (Nasdaq:NDAQ) is a leading provider of trading, clearing, exchange technology, listing, information and public company services across six continents. Through its diverse portfolio of solutions, Nasdaq enables customers to plan, optimize and execute their business vision with confidence, using proven technologies that provide transparency and insight for navigating today’s global capital markets. As the creator of the world’s first electronic stock market, its technology powers more than 70 marketplaces in 50 countries, and 1 in 10 of the world’s securities transactions. Nasdaq is home to more than 3,500 listed companies with a market value of approximately $9.5 trillion and more than 10,000 corporate clients. To learn more, visit: nasdaq.com/ambition or business.nasdaq.com.
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CONTACT: Recon Capital Partners Media Contact:
Lauren McCormack Davis – GREGORY FCA
(610) 228-2103 (direct)
(610) 220-8635 (mobile)
Nasdaq Media Contact:
+1 (212) 231-5552 (office)
+1 (646) 577-3157 (mobile)
Source: NASDAQ OMX Group via GLOBE NEWSWIRE