Options on Market Vectors-Solar Energy ETF Begin Trading on CBOE(R)
May 20 2008 - 1:40PM
Business Wire
The Chicago Board Options Exchange� (CBOE�) has launched trading in
options on Market Vectors-Solar Energy ETF (KWT), an
exchange-traded fund. KWT options began trading on May 12. The
options trade on the January expiration cycle with initial
expiration months of June, July, October and January. Strike prices
range from 35 to 45 in one-point intervals. Position limits have
been set at 2,500,000 shares. The Designated Primary Market Maker
is Group One Trading, LP. KWT seeks to replicate as closely as
possible, before fees and expenses, the price and yield performance
of the Ardour Solar Energy IndexSM (Bloomberg ticker: SOLRX), the
pure-play leader in tracking the global solar energy industry.
SOLRX includes only those companies that generate at least 66% of
their revenues from solar energy. On an index-weighted basis, its
constituents derive well over 90% of their revenues from solar
energy. The Index was launched in April 2008 and includes many
companies of global prominence�such as First Solar, Q Cells and
Renewable Energy. SOLRX is published by Ardour Global Indexes,
LLCSM and is a member of the Ardour FamilySM of Alternative Energy
Indexes, which serve as leading alternative energy industry
benchmarks. KWT shares trade on the American Stock Exchange�
(Amex�). Van Eck Associates Corporation is the investment adviser
for KWT. About the Chicago Board Options Exchange� CBOE�, the
largest U.S. options marketplace and creator of listed options, is
regulated by the Securities and Exchange Commission (SEC). Since
founding the listed options business in 1973, CBOE� has been the
leader in options volume every single year. In 2007, CBOE� options
contract volume reached an all-time record of more than 944 million
contracts. For more information on the CBOE�, please visit
www.cboe.com. About the Ardour Solar Energy IndexSM (SOLRX) The
Ardour Solar Energy IndexSM is a rules-based, modified
global-capitalization-weighted, float-adjusted index intended to
give investors an efficient means of tracking the overall
performance of a global universe of listed companies engaged in the
solar industry. The Index is weighted based on the market
capitalization of each of the component stocks, modified to conform
to various asset diversification requirements, which are applied in
conjunction with the scheduled quarterly adjustments to the Index.
Index values are calculated on both a price-only and total-return
basis. About Ardour Global Indexes, LLCSM Ardour Global Indexes,
LLCSM was founded in 2005 for the express purpose of developing
bench-marking tools for the global alternative energy industry.�It
is a partnership between Ardour Capital Investments, LLC, a premier
investment bank specializing in alternative energy finance, and
S-Network Energy Technologies, LLC, a developer of indexes and
investment products focused on both traditional and alternative
energy. Ardour Global Indexes, LLCSM and Ardour Solar Energy
IndexSM are service marks of Ardour Global Indexes, LLCSM and have
been licensed for use by Van Eck Associates Corporation in
connection with Market Vectors�Solar Energy ETF (KWT). KWT is not
sponsored, endorsed, sold or promoted by Ardour Global Indexes,
LLCSM and Ardour Global Indexes, LLCSM makes no representation
regarding the advisability of investing in the KWT. The Ardour
Solar Energy IndexSM is calculated by Dow Jones Indexes. Van Eck�s
Market Vectors�Solar Energy ETF (KWT), based on the Ardour Solar
Energy IndexSM, is not sponsored, endorsed, sold or promoted by Dow
Jones Indexes, and Dow Jones Indexes makes no representation
regarding the advisability of investing in KWT. About Van Eck
Global Founded in 1955, Van Eck Associates Corporation was among
the first U.S. money managers helping investors achieve greater
diversification through global investing. Today the firm continues
the 50+ year tradition by offering global investment choices in
hard assets, emerging markets, precious metals including gold, and
other specialized asset classes. Market Vectors exchange-traded
products have been offered by Van Eck Global since 2006 when the
firm launched the nation�s first gold mining ETF. Today, Market
Vectors ETFs and ETNs span several asset classes, including
equities, municipal bonds and currency markets. Van Eck Global also
offers mutual funds, insurance trust funds, separate accounts and
alternative investments. Designed for investors seeking innovative
choices for portfolio diversification, Van Eck Global�s investment
products are often categorized in asset classes having returns with
low correlations to those of more traditional U.S. equity and fixed
income investments. KWT is subject to risks associated with the
stock market, index tracking, sector investing, investing in small-
or mid-cap companies, foreign investments, replication management,
non-diversified investments, absence of prior active market,
trading issues, fluctuation of net asset value and risks of
investing in solar energy investments. Because of their narrow
focus, sector investments tend to be more volatile than investments
that diversify across many sectors and companies. Fund shares are
not individually redeemable and will be issued and redeemed at
their NAV only through certain authorized broker-dealers in large,
specified blocks of shares called �creation units� and otherwise
can be bought and sold only through exchange trading. Creation
units are issued and redeemed principally in kind. Investors may
call 1.888.MKT.VCTR or visit www.vaneck.com/kwt for a free
prospectus. They should consider the investment objective, risks,
and charges and expenses of Market Vectors-Solar Energy ETF
carefully before investing. The prospectus contains this and other
information about KWT. Please read the prospectus carefully before
investing. Please call 1.888.MKT.VCTR or visit www.vaneck.com/kwt
for the most recent month-end performance of Market Vectors-Solar
Energy ETF. This information will be available no later than seven
business days after the most recent month end.
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