NYSE Euronext (NYSE Euronext: NYX) announced that effective December 13, 2007 , World Gold Trust Services, LLC will transfer the listing of the StreetTRACKS Gold Trust (symbol: GLD) currently listed on the NYSE to the NYSE Arca trading platform.
GLD will begin trading as an exclusive primary NYSE Arca listing effective prior to the opening on Thursday, December 13, 2007 .
Launched by World Gold Trust Services, LLC a wholly owned subsidiary of the World Gold Council, and State Street Global Markets LLC, a wholly owned subsidiary of State Street Global Advisors on November 18, 2004, GLD provides investors with simple, cost-effective, and secure access to allocated gold bullion.
The first US commodity-based exchange-traded fund (ETF), StreetTRACKS Gold Trust has emerged as one of the fastest growing ETFs in history gathering in excess of $1bn in its first three days of trading. Now the sixth largest ETF by assets in the US , GLD held, as of October 31, 2007, $15.2bn assets under management. Holders of GLD shares will see no material change in their investment as a result of such transfer.
NYSE Arca’s all-electronic platform is the single largest liquidity pool for ETFs in the U.S. and presents a compelling value proposition for all market participants. In the first half of 2007, NYSE Arca handled 43% of all ETF shares traded in the U.S. , representing an average daily volume of approximately 231.96 million shares.
All existing NYSE ETF specialist firms are acting as LMMs in primary listings on NYSE Arca and will continue to provide value for investors and issuers by ensuring liquidity and reducing volatility. NYSE Group believes that offering a single, harmonized platform for listing and trading ETFs will further improve efficiencies and market quality. -- www.nyse.com
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