PowerShares DWA Global Momentum Index ETF Launches on NEO under Symbol DWG
Toronto - March 31, 2016 – Aequitas NEO Exchange Inc. (the “NEO Exchange”), Canada’s new national stock exchange, celebrated today the launch of its first listing, Invesco Canada’s PowerShares DWA Global Momentum Index ETF. Trading under the symbol DWG, this exchange-traded fund is the first listed in Canada based on the relative strength model of Dorsey, Wright & Associates, LLC (DWA). This is also the first time an ETF has listed on a Canadian stock exchange other than the TSX.
“For the first time in almost two decades, we witnessed the return of true competition to the listing of senior public securities in Canada,” stated Jos Schmitt, President and Chief Executive Officer, Aequitas NEO Exchange. “Our vision of a more robust, innovative and competitive capital market in Canada has come yet another step closer to reality. With Invesco’s newest ETF listed on our stock exchange, we now offer a trading venue for all Canadian listed securities that is driven by fairness, liquidity and transparency, and a listing venue focused on the best interests of investors looking to build wealth and corporations looking to raise capital. We are thrilled to launch our first listing with Invesco as we enable this new capital market that will help drive our Canadian economy forward.”
DWG began trading on the NEO Exchange on Tuesday, March 22, 2016. The first week of trading was flawless and allowed market participants to confirm readiness. The quality of liquidity provision during these first days of trading was particularly notable.
“Our first momentum-based ETF has been trading for over a week and we have been pleased with the early level of liquidity and investor interest,” said Chris Doll, Vice-President, Product & Business Strategy, PowerShares Canada. “We are very proud to celebrate this important milestone with the NEO Exchange. The idea of increasing competition in Canada makes perfect business sense to us. We are always looking for ways to be more efficient with our PowerShares ETF listings and we are strong believers in competition driving efficiency and innovation. As a shareholder, we have closely monitored the growth of the NEO Exchange since its launch, and with the development of our Global Momentum Index ETF, we determined the time was right to list on this new exchange.”
Invesco undertook an extensive review of the NEO Exchange operations before committing to its first listing and they were very satisfied with what they found, particularly with the NEO Exchange’s focus on liquidity, investor access and efficiency, all provided at the right cost. Invesco, and others to follow, can be confident that a listing on the NEO Exchange will help their number one priority: investors who invest in their products and companies. This is the benefit of true competition driven by the right values and principles.
About Aequitas NEO Exchange
The NEO Exchange is a new Canadian stock exchange using a bold new blueprint that puts investors, businesses looking to raise capital and dealers first. Launched in March 2015, the NEO Exchange currently offers an innovative trading venue and a value added listing venue for companies and investment products. Aequitas NEO Exchange Inc. is a wholly owned subsidiary of Aequitas Innovations Inc., a company founded by a diverse group of prominent investors representative of all Canadian capital market stakeholders.
Manager, Public Relations & Communications
Aequitas NEO Exchange
P: 416 - 933-5945