The introduction of this product on Euronext Amsterdam will provide investors with the opportunity to invest in Diamonds when US markets are closed. It will also bring new arbitrage opportunities for professional investors and give individual investors on Euronext easier access to one of the most successful ETFs in the world. This product also extends the range of ETFs listed on Euronext markets and available to investors.
The Diamonds Trust, Series 1 is a US unit investment trust based on the Dow Jones Industrial AverageSM index (DJIA®), one of the best-known stock indices in the world. Diamonds are one of the most heavily traded ETFs in the United States, with 5 to 7 million shares traded daily, representing between US$ 400 to 550 million a day (approx. EUR 357 to 491 million). The Trust's assets are currently valued at approximately US$ 5 billion (approx. EUR 4.46 billion).
Mr. Salvatore F. Sodano, American Stock Exchange chairman and chief executive officer commented, "The launch of the Diamonds in Europe solidifies the American Stock Exchange's reputation as a pioneer in the ETF segment. Our partnership with Euronext will result in a broadening of investment choices for European investors in the fast growing ETF segment, and will help lead the way for further cross-Atlantic cooperation in the capital markets."
George Möller, Chief Operating Officer of Euronext, said: "Euronext is proud and pleased to announce its cooperation with the American Stock Exchange, which allows the cross listing of this very successful ETF and brings this US product closer to European investors."
