Dow Jones Indexes today announced the Dow Jones Asia Pacific Extra Liquid Series, a set of equity indexes designed for retail and institutional investors seeking index-linked investments in the Asia-Pacific region. Indexes based on Australia, Hong Kong and Japan will be the initial offerings in the AP/ELS series. The indexes were designed with assistance from the Sydney Futures Exchange.
The first investment products based on the 35-stock Australia, 30-stock Hong Kong and 100-stock Japan Dow Jones AP/ELS indexes will include warrants, equity-linked notes and mutual funds. Trading on the AP/ELS Australia index is scheduled to start in the third quarter, with trading on Hong Kong, Japan and a possible regional Asian index following in early 2000.
Trading on the indexes will take place on the SFE, using its 24-hour electronic trading system, SYCOM IV. Dow Jones has also created a broader, 150-component index for Australia, the Dow Jones global indexes Australia, which is intended for use by fund managers and will have a high correlation with the 35-stock Australia AP/ELS index.