The American Stock Exchange (Amex) today announced that it has launched trading in two new exchange traded securities from Claymore Securities, Inc. (Claymore) and MACRO Markets, LLC (MACROS). These exchange traded securities track the upward or downward price movement of the benchmark grade West Texas Intermediate crude oil and comparable light sweet crude oil prices. The two new securities represent MACROS first exchange traded products at the Amex. "The Amex is proud to be partnering with both Claymore and MACROS on the launch of MACROS first exchange traded products," said Cliff Weber, Senior Vice President of the ETF Marketplace. "Claymore MACROshares are an exciting new product structure that offers unique and interesting opportunities to investors. We are pleased to have been selected to list these two new exchange traded securities."
The Claymore MACROshares are innovative investment products that seek to provide investors the benefit of realizing the price performance of an asset without directly owning the asset or the derivatives tied to the asset. Claymore MACROshares are securities issued by pairs of trusts that invest in short-term U.S. Treasuries and repurchase agreements to collateralize obligations between the trusts. These obligations fluctuate based on the daily movement of the benchmark price.
The new Claymore MACROshares products are:
Oil Up Tradeable Shares (Amex: UCR)
Oil Down Tradeable Shares (Amex: DCR)
Robert Shiller, Chief Economist for MACROS, is the architect of MACROshares and first addressed the concept in his 1996 book Macro Markets: Creating Institutions for Managing Society's Largest Economic Risks, winner of the Paul A. Samuelson Award. Shiller is also the author of the New York Times Bestseller Irrational Exuberance.
The specialist for the new exchange traded securities is Bear Hunter Structured Products LLC.
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 211 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. For more information, please visit www.amex.com
