MacroMarkets Lists Two MacroShares ETPs on NYSE Arca
June 30 2009 - 11:30AM
Business Wire
NYSE Euronext (NYX) announced that its wholly-owned subsidiary,
NYSE Arca, today began trading MacroShares Major Metro Housing
Down Trust and MacroShares Major Metro Housing Up Trust,
both exchange traded products (ETPs) sponsored by MacroMarkets
LLC.
The MacroShares Metro Housing ETPs are based on the
S&P/Case-Shiller Composite-10 Home Price Index, a closely
watched indicator of U.S. home prices in the 10 largest cities.
Name and Ticker Symbol of the
Two MacroShares ETPs:
- MacroShares Major Metro Housing
Down Trust-Ticker Symbol �DMM�
- MacroShares Major Metro Housing
Up Trust-Ticker Symbol �UMM�
MacroShares Major Metro
Housing Up /MacroShares Major Metro Housing Down
ETPs:
Developed by Karl Case and Robert Shiller, the Case-Shiller
Composite-10 Home Price Index is a closely watched gauge of U.S.
home prices. It measures single-family housing prices in the
country�s 10 largest cities. MacroMarkets states that MacroShares
Major Metro Housing trusts provide investors with access to the
housing asset class, allowing for leveraged investment in either
the upward or downward movement of home prices with no issuer or
counterparty credit risk.
As described by MacroMarkets, MacroShares Major Metro Housing Up
(NYSE Arca: UMM) and MacroShares Major Metro Housing Down (NYSE
Arca: DMM) are paired trusts that work as follows. When MacroShares
Major Metro Housing Up are created, an equal number of MacroShares
Major Metro Housing Down are also created. UMM funds are invested
in the �Major Metro Housing Up Trust.� DMM investor funds are
invested in a separate �Major Metro Housing Down Trust.� These
trusts enter into a settlement contract: a binding agreement to
pledge assets to one another over time, according to a
predetermined formula that is driven by changes in the Reference
Index. The trusts feature a 3x leverage factor, such that the
underlying value of each is intended to track three times the
cumulative percentage change, upward or downward, in U.S. single
family home prices, as measured by the S&P/Case-Shiller
Composite-10 Home Price Index.
The above is intended only as a summary. For complete
information on the effect of leverage and other risks of investment
in the trusts, please refer to the trusts� prospectuses at
www.macromarkets.com.
About
MacroMarkets:
MacroMarkets LLC is a growth company on a mission to add
liquidity to valuable economic interests and important asset
classes throughout the world. MacroMarkets LLC holds multiple
patents for MacroShares�, an exchange-traded product whose unique
structure can be applied to any asset class that can be reliably
indexed. As part of its mission to create new, more efficient and
complete financial markets, the firm was a key catalyst in
launching the U.S. house price futures and options markets on the
Chicago Mercantile Exchange (CME), and with partners at Fiserv Inc.
and Standard & Poors, in establishing the S&P/Case-Shiller
Home Price Indices as the most credible, globally-recognized
benchmark for U.S. home prices. (Source: MacroMarkets).
Background on Exchange Traded
Products (ETPs) on NYSE Euronext
NYSE Euronext operates the world's largest Exchange Traded
Products marketplace, and is the leading venue for Exchange Traded
Funds (ETFs), Exchange Traded Notes (ETNs), Exchange Traded
Vehicles (ETVs) and Warrants and Certificates trading. NYSE
Euronext's offering of these products provides investors access to
regulated listings as well as fast and innovative trading tools to
access liquidity. NYSE Arca, NYSE Euronext's US market for ETFs,
has 674 primary ETF and 48 primary ETV listings. Additionally, NYSE
Arca lists 84 ETNs, 219 Certificates, while trading all other
eligible ETPs on an Unlisted Trading Privileges basis. On its
European markets, NYSE Euronext has 396 primary ETFs, 74 ETV
listings, 4 ETN and lists a total of 12,652 Warrants and
Certificates as of the end of May 2009.
About NYSE Euronext
NYSE Euronext (NYX) offers a broad and growing array of
financial products and services in Europe and the United States
that include cash equities, futures, options, exchange-traded
products, bonds, market data, and commercial technology solutions.
With over 8,000 listed issues globally, NYSE Euronext's equities
markets -- the New York Stock Exchange, Euronext, NYSE Arca, and
NYSE Amex -- represent nearly 40% of the world's cash equities
trading volume, the most liquidity of any global exchange group.
NYSE Euronext also operates NYSE Liffe, the leading European
derivatives business and the world�s second largest derivatives
business by value of trading. NYSE Euronext offers comprehensive
global commercial technology, connectivity, and market data
products and services through its innovative trading solutions
unit, NYSE Technologies. NYSE Euronext is part of the S&P 500
index and the only exchange operator in the S&P 100 index. For
more information, please visit: www.nyx.com.
Disclaimer
NYSE Euronext and its affiliates do not recommend or make any
representation as to possible benefits from any securities or
investments, or third-party products or services. Investors should
undertake their own due diligence regarding their securities and
investment practices. This press release speaks only as of this
date. NYSE Euronext disclaims any duty to update the information
herein.
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