Innovation in investing is a focus for many firms on Wall Street. Will Kinlaw, Head of Research & Advisory at State Street Global Exchange, was with us to explain the company's investable indices that they just launched for institutional investors.

State Street is embracing a new investment model, rolling out investable indices. The company announced it had developed and begun licensing rules-based investment strategies for institutional investors.

Kinlaw has stressed that "this is not smart beta or thematic investing." Instead, the firm is focused on an active strategy in rules-driven index.