XShares Creates ETFs with NY Firm

XShares Advisors LLC has announced its agreement with Elliott Wave International, Inc. (EWI) to create exchange traded funds (ETFs) based on technical methods developed or validated by EWI.

Elliott Wave, a Gainesville, Georgia technical analysis firm, formulates and evaluates indexes designed to satisfy special needs in the financial marketplace, according to a press release.

XShares’ product offerings began trading on the New York Stock Exchange in January 2007, when the New York ETF developer and distributor, launched five exchange-traded funds (ETFs) on the New York Stock Exchange, with each aimed at a segment of the health care, life science and biotechnology industries (See NY Firm Unveils ETFs for Health, Biotech Research).

Last week, the company said it will develop exchange-traded funds (ETFs) based on carbon emission credits, which allow firms and other organizations the right to emit a stated amount of carbon dioxide over a specified time period (See XShares to Develop ETF Based on Carbon Emission Credits). The company expects to release additional ETF offerings in coming months, according to the statement.

More information about XShares is at www.xsharesadvisors.com. More information about Elliott Wave is at www.elliottwave.com.