Nasdaq Global Indexes Partners with SOURCE on New Fintech ETF

Europe’s first-ever UCITS FinTech Related Fund

The Source KBW NASDAQ Fintech UCITS ETF aims to track the KBW NASDAQ Financial Technology Index, which captures fintech companies publicly listed in the US. The index currently has 50 constituents, from household names such as Paypal and Visa to newer entrants like point-of-sale payment app Square, with market capitalizations ranging from under $1 billion to over $150 billion. The 50 companies are weighted equally to ensure performance comes from across the sector and is not dominated by the largest players.

According to Source, this is Europe’s first-ever UCITS fund focused solely on financial technology (“fintech”) companies. Fintech is one of the biggest growth stories of the century so far but, until now, there hasn’t been an easy way to get broad exposure.

Dr. Chris Mellor, Executive Director, Equity Product Management at Source, commented: “Fintech companies are reshaping every part of financial services, from consumer finance and payments to insurance and data processing.

“The growth of fintech accelerated after the financial crisis, when traditional financial services were under extreme pressure just as consumer behavior was changing and technologies such as smartphones, cloud computing and big data were taking off.

“Faster, more efficient and more joined-up technology in the financial arena has driven stellar growth for fintech companies and this trend shows no sign of slowing.”

To learn more about the KBW NASDAQ Financial Technology Index, click here. To learn more about licensing Nasdaq Global Indexes, contact us here.

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