Since its launch on the Amex in 1995, the MidCap SPDR has seen assets surpass $7 billion and average trading volume rise to 1.5 million shares.
Neal L. Wolkoff, Amex Chairman and Chief Executive Officer, said, "We are proud of our role in the creation and development of the MidCap SPDR. Product innovation is a hallmark of the American Stock Exchange and we are pleased to have contributed to the success of this important ETF product."
The American Stock Exchange pioneered the concept of exchange traded funds in 1993 with the introduction of trading in the SPDR - Standard & Poor's Depositary Receipts ("Spider") based on the Standard & Poor's 500 Index. Two years later, the Amex partnered with Standard & Poor's and The Bank of New York to launch the MidCap SPDR. Today, the Amex lists 155 ETFs, with combined assets in the funds approaching $200 billion.
Gerald L. Hassell, President of The Bank of New York, said, "The MidCap SPDR is an excellent example of the American Stock Exchange's proven ability to deliver high-quality, low-cost and transparent investment vehicles for retail and institutional investors alike. We value the partnership with Amex and Standard & Poor's and look forward to delivering innovative solutions that meet the needs of the world's rapidly evolving financial markets."
"Before Standard & Poor's MidCap Index, investors rarely talked about MidCap Stocks," said David Blitzer, Managing Director and Chairman of the Index Committee at Standard & Poor's. "With the SPDR, Standard & Poor's helped put the MidCap on the map and inside investors' dictionaries."
In celebration of the MidCap SPDR's 10 years in the investment world, the Amex will hold special events marking the anniversary, including a special bell ringing ceremony.
An investor should consider investment objectives, risks, charges and expenses of the investment company carefully before investing. To www.MidCapSPDR.com or call 1-800-THE AMEX. Please read the prospectus carefully before investing. Ordinary brokerage commissions apply.
