Nasdaq Intros Smartphone Index – Analyst Blog

On Monday, Nasdaq OMX Inc. (NDAQ) announced that it has partnered with the Consumer Electronics Association (“CEA”) to introduce the Nasdaq OMX CEA Smartphone IndexSM (“QFON”). The Smartphone Index is set to mark new and high standards for the telecommunications sector that primarily focuses on wireless, mobile devices with advanced communications technology.

 

Nasdaq’s Smartphone Index has been commenced at a value of 250.00 points with 84 companies that are screened by the Consumer Electronics Association, which includes Apple Inc. (AAPL), Google Inc. (GOOG) and Research In Motion Limited (RIMM), among others. Primarily, all companies that are involved in building, design and distribution of handsets, hardware, software and mobile networks associated with the development, sale and usage of smartphones are included in this index.

 

The Smartphone Index is an innovative attempt to design an index that is helpful to the investors in more ways than one. Besides providing the ease of tracking companies that are working meticulously to combine the benefits of the phone and computer in a single device, Smartphone Index also enhances Nasdaq’s penetration capacity in the rapidly growing wireless telecom industry.

 

With the launch of Smartphone Index on the exchange’s technology themed index platform, Nasdaq continues to expand its exchange operations, particularly enhancing its competitive edge over its primary rivals CME Group Inc. (CME), IntercontinentalExchange Inc. (ICE) as well as NYSE Euronext Inc. (NYX) in the U.S. Recently, the company launched its options trading on its Nasdaq Internet Index (QNET) platform through Nasdaq OMX PHLX, thereby consistently making efforts to gain competence and market share in the exchange industry.

                                                                                

On Monday, the shares of Nasdaq closed at $22.04, up 0.6%.