Stoxx Ltd. created an index compiled of euro-denominated bonds from the 50 biggest listed companies in the euro zone.

The new gauge, which is designed to act as a benchmark for exchange-traded funds and derivatives, will comprise of bonds from Euro Stoxx 50 index companies, according to a statement from Deutsche Boerse AG’s unit. The bonds must be at least 750 million euros ($852 million) in size and have a consolidated investment-grade rating, according to the statement.

Bond exchange-traded funds were introduced in Europe in 2003 and attracted about $27 billion last year, according to data compiled by BlackRock Inc. Assets managed by fixed-income ETFs worldwide grew to about $500 billion last year from $431 billion in 2014, the data show.

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Banco Santander SA’s debt will make up 7.5 percent of the index, the largest constituent, followed by BNP Paribas SA at 6.3 percent, according to the statement. The index will represent the most liquid investment-grade corporate bonds in the euro area, according to the statement. All eligible corporate bonds must have a remaining time to maturity of at least 15 months.

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