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BATS Chi-X Europe Russell Index Series
(CHERI™ Series)
Russell Indexes and BATS Chi-X Europe have created a strategic alliance which brings together Russell's market-leading index methodology with the largest pan-European equities exchange to launch the BATS Chi-X Europe Russell Index Series (CHERI Series).
The CHERI Series is a family of indexes that are designed to provide lower tracking errors through greater market coverage of the developed European equity markets than current European and Eurozone alternatives.
Market participants can now trade all the index constituent stocks on the same trading venue, together with index derivatives, when launched.
Key features
Accurate market proxies.
Based on the Russell Global 1000™ Index, the CHERI Series reflects the broader European investable market with a distinctive and transparent currency and country assignment methodology.
Liquid and investable.
Indices include only the most liquid share class, and fully free-float adjusted securities providing a foundation for creating investable and tradable products.
Innovative.
Strategic alliance which brings together global market-leading index methodology with the largest pan-European stock exchange.
Market depth.
BATS Chi-X Europe accounts for 28% of the value traded in CHERI PanEurope60 and CHERI Eurozone40 constituents compared to 20% on the LSE Group, 16% on NYSE Euronext and 12% on DBAG (as of September 2011).
Single trading platform.
Homogeneous pan-European pricing that allows market participants to trade the underlying stocks in the indexes, and derivatives when launched, in the same location.
Efficient execution.
Low implementation cost, low daily trading expense, and low execution costs on the BATS Chi-X Europe platform.
Streamlined market access.
BATS Chi-X Europe provides a single pan-European trading venue which includes a Sponsored Access service, CCP interoperability, and co-location and cross connectivity options.
Available indexes
Indices within the CHERI Series are referred to as the CHERIs and include:
Chi-X Europe Russell PanEurope Index: CHERI PanEurope
A broad, liquid and large cap pan-European index providing comprehensive exposure to European equity markets. Constituents are comprised of European securities in the Russell Global 1000™ Index.
14 countries, 216 securities, 5 currencies: CHF, €, £, NOK, SEK
Chi-X Europe Russell PanEurope60 Index: CHERI PanEurope60
(a subset of the CHERI PanEurope)
The largest 60 free float adjusted securities in the CHERI PanEurope Index become the CHERI PanEurope60. Transparent rules ensure that at least 3 stocks are priced in any one currency.
8 countries, 60 securities, 3 currencies: €, £, CHF
Chi-X Europe Russell Eurozone Index: CHERI Eurozone
A broad, liquid and large cap Eurozone index providing comprehensive exposure to Eurozone equity markets. Constituents are comprised of Eurozone securities in the Russell Global 1000 Index.
10 countries, 130 securities, 1 currency: €
Chi-X Europe Russell Eurozone40 Index: CHERI Eurozone40
(a subset of the CHERI PanEurope Index)
The largest 40 free float adjusted securities in the CHERI Eurozone Index become the CHERI Eurozone40.
8 countries, 40 securities, 1 currency: €
All four CHERIs have been designed to be the basis for highly tradable and investable products.
Learn more
Call a Russell representative or submit your question. We'll be happy to answer any questions you may have.
Europe, Middle East & Africa +44-0-20-7024-6600
Americas 1-866-551-0617
Asia Pacific +65-6880-5003
Copyright © Russell Investments 2011. All rights reserved.
Russell Investment Group is a Washington, USA corporation, which operates through subsidiaries worldwide, including Russell Investments, and is a subsidiary of The Northwestern Mutual Life Insurance Company.
Russell Investments is the owner of the trademarks, service marks and copyrights related to the Russell Indexes. Russell Investments and Chi-X Europe Ltd have entered into a strategic alliance with respect to the Chi-X Europe Russell Index Series. Subject to Chi-X Europe Ltd.'s intellectual property rights in certain content, Russell Investments is the owner of all copyrights related to the Chi-X Europe Russell Index Series. Russell Investments and Chi-X Europe Ltd. are the owners of all trademark and service mark rights related to their respective names and marks.
Nothing contained in this material is intended to constitute legal, tax, securities, or investment advice, nor an opinion regarding the appropriateness of any investment, nor a solicitation of any type. The general information contained in this publication should not be acted upon without obtaining specific legal, tax, and investment advice from a licensed professional.
This material is proprietary and may not be reproduced, transferred, or distributed in any form without prior written permission from Russell Investments. It is delivered on an "as is" basis without warranty. This is not an offer, solicitation or recommendation to purchase any security or the services of any organization.
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