ROBO-STOX is set to test the market for robotics?finally!
Robots everywhere can stand a little taller because soon one of their own will be the first non-human to ring NASDAQ?s closing bell. The stock market that is run by machines will now have one of their own close the day?s business on November 12.
The house that Bernie Madoff built, NASDAQ?for National Association of Securities Dealer Automated Quotation system?began trading as the world’s first electronic stock market on February 8, 1971. Forty-two years later, NASDAQ?s day of trading will be rung to a close by Universal Robot?s UR5 robot arm on the end of which will be a 3-fingered gripper from SCHUNK (Danish and German companies respectively).
The reason for NASDAQ?s sudden attention to robots is the occasion of a new fund that has begun trading there: ROBO-STOX Global Robotics and Automation Index ETF (NASDAQ: ROBO).
The happiest guy in Gotham on that Tuesday evening will be Frank Tobe, the publisher of The Robot Report, who has labored for years to get this ETF on the market. Everyone here at Robotics Business Review couldn?t be happier for Frank. Congrats Frank for a battle well fought.
He sent us an email the other evening, writing that ROBO-STOX is the ?first benchmark index providing a comprehensive and focused measure of robotics, automation and related technologies; and the first time individual and institutional investors have a cost-efficient way to capitalize on the momentum of the robotics and automation sector, regardless of geographic limitations. This is something I’ve dreamed of and worked towards for almost eight years.
?The ETF, ticker symbol ROBO, is predicated on an index licensed from Robo-Stox LLC and comprised of an algorithm and database I helped develop.?
Here?s Frank?s press release.
For a little background on ROBO-STOX , see this article that we ran a week or so ago: NASDAQ Hosts New Robotics & Automation ETF.
In addition to Frank being happy that day, our good friends and Game Changer Award winner for 2013, Universal Robots, the creators of the UR5 arm, will also be on the dais as their robot arm rings the bell.
Of all the robot arms in the world?and there are lots of them! ?Frank was most keen to have Universal?s machine do the ringing: “We didn’t want to showcase robots that are only used in research labs,? he said. ?We wanted to show viable robotics technology, well-positioned for a future IPO, that is selling and being implemented in a wide range of industries today.”
Indeed, Frank picked a hot robot to represent its kind on Robot Pride Day: the UR5 is ?selling and being implemented? in an amazing range of industries and jobs.
Hopefully, after the bell tolls, he and the folks from Universal will slip off to Beekman Tower for a celebratory nightcap and cool view of Manhattan. They?ll all have earned it.