NEW YORK and CHICAGO, April 25 /PRNewswire-FirstCall/ -- The Nasdaq Stock Market, Inc. (NASDAQ:NDAQ) and First Trust Advisors L.P. have announced the launch of two new exchange traded funds (ETFs) -- the First Trust NASDAQ-100 Equal Weighted Index(SM) Fund (NASDAQ:QQEW) and the First Trust NASDAQ-100 Technology Sector Index(SM) Fund (NASDAQ:QTEC) -- that are based on the NASDAQ-100 Equal Weighted Index(SM) (Symbol: NDXE) and the NASDAQ-100 Technology Index(SM) (Symbol: NDXT), respectively. The ETFs are managed by First Trust Advisors L.P. and listed on NASDAQ(R). The NASDAQ-100 Equal Weighted Fund and the NASDAQ-100 Technology Sector Fund are designed to correspond to the price and yield performance of the indexes on which they are based. ETFs are financial products that trade like shares of stock and can be bought and sold throughout the trading day. "These new ETFs were created in response to investor demand," said NASDAQ Executive Vice President John Jacobs, "and this collaboration with First Trust is indicative of our commitment to offer investors products that help them reach their investment objectives. The development of ETFs that are based on NASDAQ's industry leading companies bolsters First Trust's reputation as a provider of innovative financial products and services." "First Trust is proud to team up with NASDAQ to launch these new products on one of the most innovative exchanges in the world," said First Trust Advisors Managing Director Scott Hall. "We have a long and successful history with NASDAQ and hope to continue this great relationship with additional listings of new ETFs in the future." The NASDAQ-100 Equal Weighted Index is the equal weighted version of the NASDAQ-100 Index(R), which includes 100 of the largest non-financial securities listed on The Nasdaq Stock Market(R) based on market capitalization. The index contains the same securities as the NASDAQ-100 Index, but each of the securities is initially set at a weight of 1.00% of the index and is rebalanced quarterly. The NASDAQ-100 Technology Sector Index is an equal weighted index based on technology companies in the NASDAQ-100 Index. The NASDAQ-100 Technology Index contains securities in the NASDAQ-100 Index that are classified as technology according to the ICB Classification System. Each of the securities is initially set at an equal weight of the Index and is rebalanced quarterly. About NASDAQ NASDAQ is the largest U.S. electronic stock market. With approximately 3,200 companies, it lists more companies and, on average, trades more shares per day than any other U.S. market. It is home to companies that are leaders across all areas of business including technology, retail, communications, financial services, transportation, media and biotechnology. NASDAQ is the primary market for trading NASDAQ-listed stocks. For more information about NASDAQ, visit the NASDAQ Web site at http://www.nasdaq.com/ or the NASDAQ Newsroom at http://www.nasdaq.com/newsroom/. About First Trust Advisors L.P. First Trust Advisors L.P., a registered investment adviser, is an Illinois limited partnership formed in 1991. First Trust Portfolios L.P., the largest independent unit investment trust sponsor in North America (by sales), is an affiliate of First Trust Advisors. First Trust Advisors serves as an investment adviser to separately managed accounts, insurance companies, profit-sharing plans, and charitable foundations and endowments. First Trust Advisors currently manages or supervises approximately $25 billion in assets as of 3/31/06. You should consider the Fund's investment objectives, risks, charges and expenses carefully before investing. Call 800-621-1675 to request a prospectus, which contains this and other information abut the Fund. Read it carefully before you invest or send money. Like all investment company securities, the shares of the Fund are not insured by the FDIC or any other government agency, are not issued or guaranteed by any bank, and may lose value. DATASOURCE: NASDAQ CONTACT: Wayne Lee of NASDAQ, +1-301-978-4875; or Jane Doyle of First Trust Advisors L.P., +1-630-241-8775 Web site: http://www.nasdaq.com/

Copyright