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Press Releases — December 21, 2021

Qontigo licenses DAX to Kiwoom to create the first Korean-listed DAX ETF

(Zug, December 22, 2021) – Qontigo announced today the licensing of the DAX Index to Kiwoom Asset Management. The index will be used as an underlying for an ETF to be listed on the Korea Stock Exchange, a first in the Korean market.

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“While we have seen explosive growth in Korean investors’ interest in assets outside of Korea for the past few years, the investments have been largely focused on either major countries, such as the United States and China, or growth stocks. We have high expectations that the DAX Index, the flagship index representing the German equity market, will provide retail investors with opportunities for diversified portfolios, rather than portfolios heavily over-weighted in a certain country or style.”

Kihyun Kim, Chief Investment Officer (CIO) of Kiwoom Asset Management

Kim added: “In particular, we are extremely pleased to have partnered with Qontigo and to be receiving their full support—from management and product, to sales and marketing—all of which makes the entire product development process seamless. Starting with the DAX Index, we look forward to bringing innovative and unique investment tools to the Korean market in collaboration with Qontigo.”

“As Qontigo continues to grow the global footprint of the DAX, our collaboration with Kiwoom Asset Management marks an important milestone as the first license to list a DAX ETF in the Korean market. With the DAX, investors can participate in the development of Europe’s largest economy through the defining index for the German equity market covering well-known brands and important sectors, such as automotive, chemicals and engineering. We are thrilled to work with the Kiwoom team on this first initiative and look forward to future collaborations.”

Serkan Batir, Managing Director, DAX at Qontigo

The DAX tracks the performance of the 40 largest companies listed on the Regulated Market of the Frankfurt Stock Exchange that satisfy certain minimum quality and profitability requirements. Constituent selection is based on free-float market capitalization. DAX is primarily calculated as a performance index and is one of the few major country indices that takes dividend yields into account, thus fully reflecting the actual performance of an investment in the index portfolio.

About Qontigo

Qontigo is a leading global provider of innovative index, analytics and risk solutions that optimize investment impact. As the shift toward sustainable investing accelerates, Qontigo enables its clients—financial-products issuers, asset owners and asset managers—to deliver sophisticated and targeted solutions at scale to meet the increasingly demanding and unique sustainability goals of investors worldwide.

Qontigo’s solutions are enhanced by both our collaborative, customer-centric culture, which allows us to create tailored solutions for our clients, and our open architecture and modern technology that efficiently integrate with our clients’ processes.

Part of the Deutsche Börse Group, Qontigo was created in 2019 through the combination of Axioma, DAX and STOXX. Headquartered in Eschborn, Germany, Qontigo’s global presence includes offices in New York, London, Zug and Hong Kong.


STOXX Ltd. is Qontigo’s global index provider, currently calculating a global, comprehensive index family of about 13,000 strictly rules-based and transparent indices. Best known for the leading European equity indices EURO STOXX 50, STOXX Europe 50 and STOXX Europe 600, STOXX Ltd. maintains and calculates the STOXX Global index family which consists of total market, broad and blue-chip indices for the regions Americas, Europe, Asia/Pacific and sub-regions Latin America and BRIC (Brazil, Russia, India and China) as well as global markets.

STOXX is the administrator of the STOXX® and DAX® indices under the European Benchmark Regulation and exercises control over all benchmark administration processes within Qontigo.

STOXX indices are licensed to more than 600 companies around the world as underlyings for Exchange Traded Funds (ETFs), futures and options, structured products and passively managed investment funds.

Legal disclaimer:

STOXX Ltd., Qontigo GmbH, Qontigo Index GmbH, Deutsche Boerse Group and their licensors, research partners or data providers do not make any warranties or representations, express or implied, with respect to the timeliness, sequence, accuracy, completeness, currentness, merchantability, quality or fitness for any particular purpose of its index data and exclude any liability in connection therewith. STOXX, Qontigo GmbH, Qontigo Index GmbH, Deutsche Boerse Group and their licensors, research partners or data providers are not providing investment advice through the publication of indices or in connection therewith. In particular, the inclusion of a company in an index, its weighting, or the exclusion of a company from an index, does not in any way reflect an opinion of STOXX, Qontigo GmbH, Qontigo Index GmbH, Deutsche Boerse Group or their licensors, research partners or data providers on the merits of that company. Financial instruments based on the STOXX® indices, DAX® indices or on any other indices supported by STOXX are in no way sponsored, endorsed, sold or promoted by STOXX, Qontigo GmbH, Qontigo Index GmbH, Deutsche Boerse Group or their licensors, research partners or data providers.