Keefe Bruyette & Woods’ index family will be calculated and marketed by Nasdaq OMX Group through a partnership announced Wednesday.
The nine indexes, which target the banking, money management, broker-dealer, insurance, equity REIT and mortgage finance sectors, will be rebranded as KBW Nasdaq, said Nicholas Lawler, Nasdaq spokesman.
The partnership increases the number of Invesco PowerShares exchange-traded funds that track a Nasdaq index to 44, from 37, Mr. Lawler said.
KBW still will determine the composition of the indexes based on “mutually agreed upon criteria for each index,” said Fred Cannon, global director of research at KBW.
The KBW partnership is part of a broader expansion of Nasdaq’s index business. In January, Nasdaq acquired smart-beta index provider Dorsey Wright & Associates for $225 million in debt and cash.
