Dow Jones’ AP/ELS Under Way

April 01, 1999

On July 27, Dow Jones Indexes launched its Asia Pacific Extra Liquid Series (AP/ELS), which currently includes indexes based on Australia, Hong Kong and Japan.

Dow Jones AP/ELS is a set of equity indexes designed for retail and institutional investors seeking index-linked investments in the Asia Pacific region. The indexes are constructed using the largest, most liquid stocks in each country's market. They were designed with the assistance of the Sydney Futures Exchange (SFE).

Each country index's components are chosen from the stocks included in that country's Dow Jones Global Index. The AP/ELS indexes themselves are expected to have a close correlation with their corresponding Dow Jones Global Indexes.

"Dow Jones Indexes is committed to providing investors worldwide with an efficient means of participating in the Asia Pacific equity markets and has constructed AP/ELS to help reach that investment objective. We plan to increase the number of AP/ELS country and regional indexes over the next year," said Michael Petronella, Managing Director of Dow Jones Indexes.

Derivatives trading on the 35-stock AP/ELS Australia index were scheduled to begin in the third quarter of 1999 at SFE. Trading on the 30-stock Hong Kong and 100-stock Japan indexes will follow in early 2000. Derivatives on a fourth potential index covering the Asian region may begin trading at that time as well. Other investment products expected to be based on the new AP/ELS indexes include warrants, equity-linked notes and mutual funds.

Andrew Sinclair, formerly Head of Benchmark Securities Management Limited at Deutsche Bank, has been appointed as Director-Asia Pacific. Based in Sydney, Sinclair will be responsible for regional operations and marketing activities, including creating product awareness and selling license agreements to financial institutions.


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