China Technology re-launch result of growing Global X, Nasdaq bond

By Aleesia Forni

Columbus, Ohio, Dec. 14 - Global X Funds's decision to re-launch its Global X Nasdaq China Technology exchange-traded fund came out of its growing partnership with Nasdaq, according to Alex Ashby, a research analyst at Global X.

"We've developed a few new products using Nasdaq indexes, Nasdaq benchmarks," Ashby told Prospect News.

Including the China Technology exchange-traded fund, the company has listed four products on the Nasdaq Stock Exchange.

Before the switch, the fund was called the Global X China Technology ETF.

"The [fund's] switch came out of conversations with Nasdaq," Ashby said.

"Obviously, they're a leader in technology indexes, and they have sort of an expertise there that we just thought would make a good partnership for other funds that we've moved forward with, as well as the China technology fund that we currently had."

This exchange-traded fund tracks the Nasdaq OMX China Technology index, which in turn tracks the performance of China's technology sector.

Ashby said Global X believed this partnership would be an "improvement," and using the Nasdaq index for the fund going forward would be "beneficial."

Nasdaq's "expertise" in the technology sector, as well as their "presence on the ground" in China will also be a benefit to the fund, Ashby said.

"The scope of their organization is pretty significant," Ashby said.

"When it comes to an index provider being able to provide and have that research capability and expertise and network on the ground in certain places, in this case in China and the relationship that they have there, we just thought it would be a good partnership in that sense."

With this exchange-traded fund, Ashby said Global X is "leveraging [Nasdaq's] expertise, the technology and the scope of their operations and what they're developing in different parts of the world."

Global X announced the relaunch on Tuesday.

The fund was previously called the Global X China Technology ETF. Its ticker has changed to "QQQC" on Nasdaq from the previous "CHIB" on NYSE Arca.

Global X is a New York-based provider of exchange-traded funds.

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