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Tel Aviv Bourse To List First ETN In July

The Tel Aviv Stock Exchange will start the trading of exchange-traded notes in July 2011, said CEO Ester Levanon.

The Tel Aviv Stock Exchange will start the trading of exchange-traded notes (ETNs) in July 2011, said CEO Ester Levanon, Bloomberg reports. The exchange’s first ETNs will track energy, telecommunications, technology and biomedical industries.

The exchange did not disclose the names of the companies that will manage the new ETNs. Tel Aviv is offering new products to attract foreign money managers after Israel got upgraded to a developed market from emerging by index provider MSCI in May 2010.

Click here for the story from Bloomberg.

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