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The American Stock Exchange (Amex) and London & Capital, a boutique, UK-based asset manager, today announced its appointment of the Amex as exclusive calculation agent for the MarketGrader Indices, beginning with MarketGrader 40 Index, one of the first merit-based equity indices available in the UK.
The partnership with Amex, a leading publisher of customized index benchmarks and the pioneer of the exchange traded fund (ETF), makes available real-time pricing to MarketGrader 40 Index investors for ongoing portfolio valuation. MarketGrader 40 Index investors will be able to value their portfolio every 15 seconds via leading data vendors, including Reuters and Bloomberg (Ticker: MGFTY), and online financial portals. The access to real-time market data will keep investors better informed of market movements so they may swiftly identify opportunities.
Scott Ebner, Head of New Product Development at the Amex ETF Marketplace, said, "We are pleased to be partnering with London & Capital to be their exclusive calculation agent. This is one of our areas of expertise and we are happy to be providing our services to these new indices."
Daniel Freedman, Joint Managing Director, London & Capital, said, "This alliance broadens the appeal of MarketGrader as we prepare to launch an extended family of investment products based upon the index. The real-time publication of MarketGrader data will give investors greater insight into their portfolios and will facilitate the expansion of the MarketGrader product offering."
MarketGrader is one of the first merit-based North American equity indices available in the UK. Unlike standard indices, which evaluate stocks based on fixed parameters such as market capitalization, MarketGrader uses algorithms to apply four quantitative filters (growth, value, profitability and cash flow) to analyze more than 5,700 North American stocks and adjust its holdings accordingly. The index, rebalanced quarterly in line with the submission of company results, is entirely computer driven and free from human intervention. London & Capital currently offers the MarketGrader 40 Index and will launch the MarketGrader 100 and 200, as indices and ETFs, during Q1 2007. MarketGrader 40 will also be used as the underlying benchmark for an ETF.
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 196 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
