State Street Acquires Exchange Traded Fund License Rights for SPDR, MidCap SPDR and DIAMONDS Trusts
November 01 2005 - 3:00PM
Business Wire
State Street Corporation announced today that it has acquired the
licensing rights for three exchange-traded funds (ETFs) listed and
traded on the American Stock Exchange (AMEX). The three ETFs-- the
SPDR(R) Trust, MidCap SPDR Trust and DIAMONDS(TM) Trust-- are
sponsored by PDR Services LLC (PDR), a wholly-owned subsidiary of
the American Stock Exchange LLC. Collectively these three ETFs
represent about one third of the ETF market. The licensing rights,
which State Street has acquired from PDR and the AMEX, grant State
Street the use of the SPDRs, MidCap SPDRs and DIAMONDS trademarks
together with certain other trademarks of Standard and Poors(R) and
Dow Jones(R), including the S&P 500(R), the S&P MidCap 400
and the Dow Jones Industrial Average(TM). State Street also assumes
exclusive responsibility to market and promote the three ETFs. The
SPDR Trust, MidCap SPDR Trust and DIAMONDS Trust will continue to
be listed on the AMEX. The financial terms of the agreement will
not be material to State Street Corporation. About State Street
Corporation State Street Corporation (NYSE: STT) is the world's
leading specialist in providing institutional investors with
investment servicing, investment management and investment research
and trading. With $9.8 trillion in assets under custody and $1.4
trillion in assets under management (as of September 30, 2005),
State Street operates in 25 countries and more than 100 geographic
markets worldwide. For more information, visit State Street's web
site at www.statestreet.com. This news announcement contains
forward-looking statements as defined by United States securities
laws, including statements about the financial outlook. Those
statements are based on current expectations and involve a number
of risks and uncertainties, including those related to the pace at
which State Street adds new clients or at which existing clients
use additional services, the value of global and regional financial
markets, the pace of cross-border investment activity, changes in
interest rates, the pace of worldwide economic growth and rates of
inflation, the extent of volatility in currency markets,
consolidations among clients and competitors, State Street's
business mix, the dynamics of markets State Street serves, and
State Street's success at integrating and converting acquisitions
into its business. Other important factors that could cause actual
results to differ materially from those indicated by any
forward-looking statements are set forth in State Street's 2004
annual report on Form 10-K and subsequent SEC filings. State Street
encourages investors to read the Corporation's annual report,
particularly the section on factors that may affect financial
results, and its subsequent SEC filings for additional information
with respect to any forward-looking statements and prior to making
any investment decision. The forward-looking statements contained
in this press release speak only as of the date hereof, November 1,
2005, and the Corporation will not undertake efforts to revise
those forward-looking statements to reflect events after this date.
"Standard & Poor's(R)", "S&P(R)", S&P 500(R), "Standard
& Poor's 500", "500", "SPDRs", Standard & Poor's MidCap 400
Index", "S&P MidCap 400 Index", "Standard & Poor's MidCap
Depositary Receipts", and "MidCap SPDRs" are trademarks of The
McGraw-Hill Companies, Inc. and have been licensed for use by State
Street Corporation "Dow Jones(TM)", "DIAMONDS(TM)" and "Dow Jones
Industrial Average(TM)" are trademarks of Dow Jones & Company,
Inc. and have been licensed for use for certain purposes by State
Street Corporation. The DIAMONDS Trust, based on the Dow Jones
Industrial Average, is not sponsored, endorsed, sold or promoted by
Dow Jones, and Dow Jones makes no representation regarding the
advisability of investing in such product.
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