Note from the Publisher: Nasdaq has recently declared itself a fintech company, and we were thrilled to partner with our friends there on content for the launch of our new website. Hence, we're not surprised to learn that they are going into the fintech sector deeper with the launch of a new Financial Technology Index, in conjunction with investment bank and b/d Keefe Bruyette & Woods.
"NEW YORK--(BUSINESS WIRE)--Keefe Bruyette & Woods (KBW), a Stifel company (NYSE:SF), and Nasdaq (NASDAQ:NDAQ) today announced the launch of the KBW Nasdaq Financial Technology Index (Ticker: KFTX), a preeminent index designed to precisely track the performance of those companies that leverage technology to deliver financial products and services. Their distribution is nearly exclusively electronic, with limited or no “bricks and mortar,” and their revenue mix is predominantly fee-based. These firms leverage new assets such as advanced data aggregation and analysis, innovative technology, and creative thinking.
FinTech is a relatively new industry designation garnering increasing investor attention. There is a lack of a consistent definition of FinTech in the marketplace and the term is used to describe many different types of companies classified in various industries. KFTX leverages KBW’s expertise in financial services and Nasdaq’s long history creating innovative, market-leading transparent indexes, to provide investors with the most precise index representation of FinTech available in the market today."
Read Full Press Release Here