US - MSCI Barra, Standard & Poor's (S&P) and Dow Jones Indexes, in association with Wilshire, have all announced the launch of new indices for institutional investors.
The indices can be used by institutional investors for the purposes of portfolio management and benchmarking, as well as for the creation of structured products and other vehicles such as ETFs.
S&P has launched a new family of arbitrage indices designed to model common financial market arbitrage strategies. The new S&P arbitrage indices include the S&P 500 Volatility Arbitrage Index, S&P Currency Arbitrage Index and the S&P Long Only Merger Arbitrage Index.
Srikant Dash, head of global research and design, S&P, said: "The S&P Arbitrage Index family will offer an investable framework for tracking common arbitrage opportunities in the financial markets."
He added the three indices were the first in a series of planned arbitrage product launches for 2008.
Dow Jones Wilshire Global (DJWG) has also announced the addition of key emerging markets to its index offerings. From 24 March, following the completion of the quarterly DJWG review, Bahrain, Kuwait and Sri Lanka will be added to its family of indexes.
Michael Petronella, president of Dow Jones Indexes, said: "The decision reflects the growing importance of these emerging markets to the world's investment community and ensures the DJWG Total Market Index provides institutional investors with the broadest coverage of international equities."
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