Nasdaq, KBW Form Strategic Index Partnership - Quick Facts

(RTTNews) - Nasdaq (NDAQ) and Keefe Bruyette & Woods or KBW, a unit of Stifel Financial Corp. (SF) announced a partnership involving KBW's family of financial indexes.

Under the agreement, Nasdaq will assume responsibility for the calculation, dissemination and commercialization of these indexes, and will work closely with KBW to jointly promote the products and benchmarks to new market participants worldwide.

As a result of the KBW Nasdaq partnership, Nasdaq will expand its relationship with Invesco PowerShares, an exchange-traded fund provider. This will now bring the total number of PowerShares ETFs tracking a Nasdaq index to 44, with over $52 billion in assets under management or AUM.

The companies noted that the partnership will expand access to indexes and ETFs with more than $770 million in licensed AUM. The Indexes will be re-branded "KBW Nasdaq" in June 2015.