OREANDA-NEWS. March 23, 2011. Itau Unibanco S.A was the winner of the BM&FBOVESPA bidding process for the exclusive one-year license of the use of the Corporate Sustainability Index (ISE) and the Corporate Governance Trade Index (IGCT) for the creation respectively of the ISE ETF and IGCT ETF Exchange Traded Funds.

BM&FBOVESPA opened the bids on Tuesday and announced the results of the process. Itau Unibanco S.A was the winner as it provided the highest financial volume commitment for the 12 months as of the date the ETF shares of each of the funds are admitted for trading.

The ISE ETF will reference the Corporate Sustainability Index (ISE) launched in 2005 and will reflect the return on a portfolio of stocks in companies with a recognized commitment to social responsibility and corporate sustainability.

The IGCT ETF will track the Corporate Governance Trade Index (IGCT), which was launched in January to measure the performance of stocks issued by companies that voluntarily adopt differentiated corporate governance standards (listed on Level 1, Level 2 and the Novo Mercado) and which meet the inclusion criteria established by their methodology.