Keefe Bruyette & Woods, Nasdaq Announce Launch Of Global Bank Index

(RTTNews) - Keefe Bruyette & Woods or KBW, a unit of Stifel Financial Corp. (SF) and Nasdaq (NDAQ) announced the launch of the KBW Nasdaq Global Bank Index (GBKX), the first and only index designed to track the performance of those banks designated as global systemically important by the Financial Stability Board and Basel Committee on Banking Supervision.

The 28 banks included in the KBW Nasdaq Global Bank Index represent 45% of the global investable banking universe and account for approximately $3T in total market cap.

The KBW Nasdaq Global Bank Index is an equal-weighted index that has an average yield of 3.14%. While a U.S.-dollar denominated index, it provides exposure to six different currencies - the U.S Dollar, Euro, British Pound, Japanese Yen, Swiss Franc and Swedish Krona. The Index will be rebalanced quarterly and members will be updated annually on the third Friday in December based on FSB and the Basel Committee's update to the list of G-SIBs published in November.

In addition to the GBKX, there are also two total return versions of the Index that have been simultaneously launched - KBW Nasdaq Global Bank Total Return Index (GBKXT) and KBW Nasdaq Global Bank Net Total Return Index (GBKXN).