NYSE Euronext (NYX) announced that its wholly-owned subsidiary, NYSE Arca, today began trading the Market Vectors Vietnam ETF (Ticker: VNM). The ETF is sponsored by Van Eck Associates Corporation.
The Fund’s investment objective is to replicate as closely as possible, before fees and expenses, the price and yield performance of the Market Vectors Vietnam Index (MNVNM). MNVNM is a rules-based, modified capitalization weighted, float adjusted index intended to give investors exposure to Vietnam .
Currently, approximately 70% of the market capitalization of the Vietnam Index is composed of securities of companies domiciled and primarily listed on an exchange in Vietnam and which generate at least 50% of revenues from Vietnam ..This percentage is expected to increase in the future. The Index may also include non-Vietnamese companies that generate, or are expected to generate, at least 50% of their revenues from Vietnam , or that demonstrate a significant and/or dominant position in the Vietnamese market and are expected to grow. The Offshore component of the Index is currently approximately 30%. MNVNM comprises a broad representation of Vietnam ’s equity market with 28 companies in 8 sectors as of July 31, 2009. The Index’s top sectors include Financials (37% of the Index), Energy (19%) and Materials (12%).
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 682 primary ETF and 46 primary ETV listings. Additionally, NYSE Arca lists 84 ETNs, 216 Certificates, while trading all other eligible ETPs on an Unlisted Trading Privileges basis. On its European markets, NYSE Euronext has 417 primary ETFs, 73 ETV listings, 4 ETN and lists a total of 11,232 Warrants and Certificates as of the end of May 2009.
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