NEW YORK, Sept. 25 /PRNewswire/ -- At a ceremony today at its world headquarters in New York City, Standard & Poor's -- the world leading index provider -- signed an agreement with the Korea Exchange (KRX) to develop a new set of indices which will meet the investing needs of Asian investors. A Memorandum of Understanding was signed in Korea by both parties in May, and was announced at that time.
The partnership combines Standard & Poor's brand equity, track record in exchange partnerships and renowned analytical expertise in creating new, tradable indices with the Korea Exchange's comprehensive knowledge of local investor interests and requirements. The new indices will be developed to serve as the basis for the creation and trading of ETF's and index derivatives.
Participating in today's signing ceremony was Deven Sharma - President of Standard & Poor's, Alexander Matturri - Executive Managing Director of Standard & Poor's Index Services, Tom Schiller - Executive Managing Director of Asia-Pacific for Standard & Poor's, and Robert Shakotko - Managing Director of Standard & Poor's Index Services. Participating on behalf of the Korea Exchange was Jung-Hwan Lee - Chairman & CEO, Hong-Sik Choi - Executive Director, In Sik-Myung - Director, Yoon-Sang Cho - Director, and Hun-Chul Choi - Manager.
Recognizing the value of local partnerships, Standard & Poor's pioneered the concept of exchange partnerships in the year 2000, when a partnership with the Australian Stock Exchange was announced. Since then, a number of unique and well recognized partnerships have developed -- most notably with primary exchanges in Tokyo, Milan, Toronto, Moscow, Hong Kong, and India.
For more information about Standard & Poor's family of indices, please visit: http://www.standardandpoors.com/indices.
About Standard & Poor's Index Services
Standard & Poor's Index Services, the world's leading index provider, maintains a wide variety of investable and benchmark indices to meet an array of investor needs. Its family of indices includes the S&P 500, an index with $1.5 trillion invested and $4.85 trillion benchmarked, and the S&P Global 1200, a composite index comprised of seven regional and country headline indices. For more information, please visit http://www.standardandpoors.com/indices.
About Standard & Poor's
Standard & Poor's, a division of The McGraw-Hill Companies , is the world's foremost provider of financial market intelligence, including independent credit ratings, indices, risk evaluation, investment research and data. With approximately 8,500 employees, including wholly owned affiliates, located in 23 countries and markets, Standard & Poor's is an essential part of the world's financial infrastructure and has played a leading role for more than 140 years in providing investors with the independent benchmarks they need to feel more confident about their investment and financial decisions. For more information, visit http://www.standardandpoors.com/.
Standard & Poor's does not sponsor, endorse, sell or promote any S&P index-based investment product.
