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Singapore Exchange, which is bidding for Australia’s ASX, Singapore Press Holdings and FTSE Group announced plans for a Straits Times Index Dividend Index to help create new investment products.
The index represents the cumulative value of ordinary dividends paid by the stock components of the 30-member benchmark index, the Straits Times Index, and will pave the way for “creating products like derivatives, tracker funds, exchange-traded funds and other structured products,” according to a statement sent to the exchange.
The index represents the cumulative value of ordinary dividends paid by the stock components of the 30-member benchmark index, the Straits Times Index, and will pave the way for “creating products like derivatives, tracker funds, exchange-traded funds and other structured products,” according to a statement sent to the exchange.
The benchmark has gained 10% this year.
The dividend index will run on a calendar year basis with reviews in March and September to take into account any changes in the index components, according to the statement.
Singapore Exchange on Oct. 25 said it had offered to buy ASX cash and stock. Singapore Exchange Chief Executive Officer Magnus Bocker said the same day in Sydney that the proposed combination would capture growth in the Asia- Pacific region.
