Dow Jones Indexes and the South Asian Federation of Exchanges (Safe) launched the DJSafe100 and the DJSafe Pakistan indices this week as underlyings for contracts, such as structured products, funds, exchange-traded funds, futures and options.
The DJSafe100 tracks blue-chips in five of the eight Safe member states, including India, Bangladesh, Mauritius, Pakistan and Sri Lanka. It is the first index of its kind, according to Dow Jones.
So far, it and the Pakistan index have been licensed for an index tracker fund managed by Arif Habib Investment Management in Pakistan.
"South Asia is home to some of the most rapidly-evolving financial markets worldwide. By further developing securities markets and aiming at their regional and international integration, the South Asian Federation of Exchanges has contributed significantly to these developments," said Dow Jones Indexes president Michael Petronella.
The Safe100 Index includes the 50 largest Indian stocks and the 50 largest stocks trading in Bangladesh, Mauritius, Pakistan and Sri Lanka, while the Pakistan index measures the Pakistani stocks in the Safe index.