On Monday, the?International Securities Exchange (ISE) announced its licensing agreement with KSM Sal Indices Certificates Ltd., Israel’s largest ETF issuer. This will license the ISE Water Index to?KSM?for its Water Fund.?
This index has already received accolades by?Morgan Stanley Smith Barney’s?Global Investment Committee?as 2012’s best investment idea; it has also been named as one of its top 2013 investment ideas as well, according to the ISE press release. ?
Kris Monaco, Head of ISE ETF Ventures said of the announcement,?”Our international partnership with KSM represents a range of expansion and the pursuit of international growth opportunities that ISE has taken in the ETF industry. KSM’s track record of ETF management complements the recent success and recognition of the ISE Water Index and we look forward to working with KSM to introduce this product to a broadened investor pool.” ??
The licensing agreement represents ISE’s first one with an Israeli ETF issuer but it marks the exchange’s 20th exchange traded product (ETP) based on a proprietary ISE Index.?
Avner Hadad, CEO of KSM said,?”We are excited about this new cooperation with ISE, which expands KSM’s product suite via exposure to the professional expertise and methodology provided by the ISE Water Index. KSM always aims to lead innovation and actively develop the ETF market in Israel and is delighted to have ISE among its international partners.” ?
?
?