American Stock Exchange News Release
www.amex.com |
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| ETF Release |
Media Contact: Bari Trontz |
AMERICAN STOCK EXCHANGE LISTS TWO NEW POWERSHARES ETFs | ||
New York, November 15, 2007 – The American Stock Exchange® (Amex®) today announced that it has launched trading in two new exchange traded funds (ETFs) by PowerShares Capital Management LLC. These new PowerShares ETFs bring the total number of ETF listings on the Amex to 375. “The Amex takes great pride in supporting PowerShares as they grow their ETF family,” said Scott Ebner, Senior Vice President of the Amex ETF Marketplace. “The Amex remains committed to bringing innovative investment vehicles to the marketplace.” PowerShares VRDO Tax Free Weekly Portfolio (Amex: PVI ) seeks to track the Thomson Municipal Market Data VRDO Index which includes a pool of tax-exempt short-term VRDOs issued by municipalities in the United States that reset interest rates on a weekly basis. “We are excited to expand our fixed-income offerings on the American Stock Exchange,” said Bruce Bond, president and CEO of PowerShares Capital Management. “High-quality VRDOs can provide attractive tax-exempt yields, but the typical $100,000 trading increment precludes many investors from participating in this asset class. The PowerShares VRDO Tax-Free Weekly portfolio will truly open this market for investors. We also believe the PowerShares High Yield Corporate Bond Portfolio will provide investors better access to these types of fixed income-securities, with the additional benefits of the ETF format.” Kellogg Capital Group, LLC is the specialist PVI. Goldman Sachs Execution & Clearing, LP is the specialist for PHB. | ||
About American Stock Exchange
The American Stock Exchange® (Amex®) offers trading across a full range of equities, options and exchange traded funds (ETFs), including structured products and HOLDRSSM. In addition to its role as a national equities market, the Amex is the pioneer of the ETF, responsible for bringing the first domestic product to market in 1993. Leading the industry in ETF listings, the Amex lists 375 ETFs to date. The Amex is also one of the largest options exchanges in the U.S., trading options on broad-based and sector indexes as well as domestic and foreign stocks.