Solactive launches Home Automation Index
Frankfurt-based index provider Solactive AG has launched the Solactive Home Automation Index, designed to track the price movements of stocks representative of the global home automation market.
The Index has been licensed to be used as underlying for a BNP Paribas Open End Certificate listed in Frankfurt, where it is denominated in euro and in Zurich, where it is denominated in Swiss francs and US dollar.
According to Solactive, Home Automation is defined to encompass all connected objects in a smart home and now represents roughly 25% of the growing Internet of Things space.
The Solactive Home Automation Index is composed of stocks with a market capitalisation of $250m or more, a three months average daily value traded of $2m or more and significant business operations in the home automation industry. The top stocks by market capitalisation are selected as components of the index and are equal weighted, with a cap at 30 stocks. According to the index guideline, a home automation or connected home system encompasses one or more computers coordinating devices that monitor or control home functions through an intelligent network.
Steffen Scheuble, CEO of Solactive, said: “We are enthusiastic at the idea of launching another innovative index in the tech space following the Solactive Wearable Tech and FinTech Indices earlier this year. The Solactive Home Automation Index is an interesting, geographically diversified tool replicating both major blue chips and pure players in a promising industry, which are all equal weighted.”
Kemal Bagci, in charge of Exchange Traded Solutions for BNP Paribas Germany adds: “Home Automation allows millions of households access to one’s home devices simply by pressing a button. Monitoring and communication with lights and heating systems as well as various domestic appliances will impact significantly households’ energy efficiency and the users’ overall quality of life.”