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ETF Provider Extends Distribution to Portugal

Nick Parmee

18 September 2008

Exchange traded funds provider SPA ETF has agreed with NYSE Euronext and Portuguese bank Caixa - Banco de Investimento to list and distribute the first-ever ETF in Portugal.

The SPA ETF PSI-20 will be listed on the NYSE Euronext in Portugal and will track the PSI-20 (the Portuguese Stock Index), opening the Portuguese ETF market to both retail and institutional investors.

SPA says the ETF is being listed as a direct response to investor demand and that the country represents a significant investment opportunity for both local investors and international investors looking to gain exposure to Portuguese stocks.

This development with CaixaBI represents the first European distribution deal for SPA ETF. It plans to set up further partnerships with distributors who stand to benefit from its platform in creating and listing exchange traded funds tailored to the specific needs of its partners.