Van Eck Global's Market Vectors -Russia ETF Begins Trading
NYSE Euronext (NYSE Euronext: NYX) subsidiary, NYSE Group, Inc. todayannounced the listing of Market Vectors - Russia ETF (NYSE: RSX). As the first ETF focused on offering investors exposure to a broad spectrum of Russian companies, RSX is sponsored by Van Eck Global and is designed to track the price and yield performance, before fees and expenses, of the DAXglobal® Russia + Index (DXRPUS).
DAXglobal® Russia + Index is calculated and maintained by Deutsche Börse AG and is comprised of 30 of the most heavily traded Russian securities that have exchange listings either through an American Depository Receipt (ADR), a Global Depository Receipt (GDR) or local Russian shares. The index includes NYSE-listed Wim-Bill-Dan (NYSE: WBD), Rostelecom (NYSE: ROS), Vimpel Communications (NYSE:VIP), and Mobile Telsys (NYSE: MBT).
"We are proud to list the first Russian ETF in the U.S. "Â said NYSE Group Senior Vice President, Exchange Traded Funds and Indexes, Lisa Dallmer. "Market Vectors - Russia ETF offers investors exposure to Russian companies and further demonstrates NYSE Euronext's dedication to expanding our global footprint by providing our customers with the widest variety of trading products and services."Â
The Market Vectors - Russia ETF will be listed and traded on the NYSE from 9:30 a.m. to 4:15 p.m. ET by a specialist. The fund's Indicative Optimized Portfolio Value (RSX.IV) and associated fund data will be calculated and provided by NYSE Arca from 4 a.m. ET to 8 p.m. ET to coincide with the expected NYSE Arca unlisted trading. The calculation services are an enhancement to our ETF technology services available to issuers.
NYSE Group markets have 180 primary ETF listings and trade all other eligible ETFs on a UTP basis. In first quarter 2007, NYSE Group handled 45% of all ETF shares traded in the U.S. market. As the largest exchange group for ETF trading, NYSE Group is committed to offering investors the most innovative new investment options with superior pricing and market quality. -http://www.nyse.com/
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