The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Van Eck Begins the Greening of Wall Street Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, May 09, 2007

Van Eck Begins the Greening of Wall Street

News summary by MFWire's editors

Anticipating the greening of the market, Van Eck Global has launched an alternative energy exchange traded fund on the NYSE. The fund will attempt to replicate the Ardour Global Index, a benchmark for the global alternative energy industry.

NEW YORK , May 9, 2007- NYSE Euronext (NYSE Euronext: NYX) subsidiary, NYSE Group, Inc. today announced the listing of the Market Vectors – Global Alternative Energy ETF (NYSE: GEX). Sponsored by Van Eck Global, GEX seeks to replicate, as closely as possible, the price and yield performance of the Ardour Global IndexSM(Extra Liquid) (AGIXL) before fees and expenses.

As a listings leader in the energy industry, NYSE-listed companies represent 97% of the market value of all qualified companies with a combined total market valuation of more than $3.1 trillion. The following NYSE-listed companies are a part of the suite of alternative energy listings tracked by GEX: Aventine Renewable Energy Holdings, Inc. (NYSE: AVR), International Rectifier Corporation (NYSE:IRF), Headwaters Incorporated (NYSE: HW), Avx Corporation (NYSE: AVX), Evergreen Energy Inc. (NYSE Arca: EEE), Kemet Corporation (NYSE: KEM), VeraSun Energy Corporation (NYSE:VSE), and Ormat Technologies, Inc. (NYSE:ORA). As members of the AGIXL, all of these companies are constituent stocks in the GEX.

In celebration of today’s listing, Assistant Secretary of Energy Efficiency and Renewable Energy, Alexander Karsner will ring the Opening BellSM.

“It is a pleasure to ring The NYSE Opening Bell, especially today as we celebrate a major step for renewable alternative energy," said Assistant Secretary for Energy Efficiency and Renewable Energy, Alexander Karsner. “The initial listing of Market Vectors –Global Alternative Energy ETF creates a great opportunity to raise awareness about the availability of clean, affordable renewable energy.”

“We’re delighted to welcome Van Eck Market Vectors –Global Alternative Energy ETF to our family of listed issues,” said NYSE Euronext Executive Vice President, Global Corporate Client Group, Noreen Culhane. “GEX provides investors with direct access to a diverse portfolio of the world’s leading alternative energy stocks and furthers investor education in the rapidly growing alternative energy sector.”

“GEX has many attractive features for investors seeking exposure to the alternative energy industry,” said Jan van Eck, Principal of Van Eck Global. “Most importantly it’s a global fund, currently embracing companies from 16 different countries. And where better a place to list and gain visibility than the first truly global financial marketplace. We are proud to be a part of the NYSE-listed family.”

Also participating in the day’s events is Robert Levin, Senior Vice President of the New York Mercantile Exchange (NYSE: NMX).

"Alternative Energy is high on the NYMEX agenda,"Robert Levin, Senior Vice President of the New York Mercantile Exchange. "On Monday, we launched a Uranium futures contract and plan to introduce a futures contract on the AGIXL by the end of this quarter." The NYMEX is the primary trading forum for traditional energy products, including crude oil and natural gas."

NYSE Group markets have 186 primary ETF listings and trade all other eligible ETFs on a UTP basis. In first quarter 2007, NYSE Group handled 45% of all ETF shares traded in the U.S. market. As the largest exchange group for ETF trading, NYSE Group is committed to offering investors the most innovative new investment options with superior pricing and market quality.

Van Eck Associates Corporation
Founded in 1955, Van Eck Associates Corporation was among the first U.S. money managers helping investors achieve greater diversification through global investing. Today, the firm continues its 50+ year tradition by offering global investment choices in hard assets, emerging markets, precious metals including gold, and other specialized asset classes. Van Eck Global’s investment products are designed for investors seeking innovative choices for portfolio diversification. They are often categorized in asset classes having returns with low correlations to those of more traditional U.S. equity and fixed income investments.

About NYSE Euronext
NYSE Euronext, a holding company created by the combination of NYSE Group, Inc. and Euronext N.V., commenced trading on April 4, 2007 . NYSE Euronext (NYSE Euronext: NYX) operates the world’s largest and most liquid exchange group and offers the most diverse array of financial products and services. NYSE Euronext, which brings together six cash equities exchanges in five countries and six derivatives exchanges in six countries, is a world leader for listings, trading in cash equities, equity and interest rate derivatives, bonds and the distribution of market data. Representing a combined €21.7/$29.6 trillion total market capitalization of listed companies and average daily trading value of approximately €85/$115 billion (as of April 30, 2007), NYSE Euronext seeks to provide the highest standards of market quality and integrity, innovative products and services to investors, issuers, and all users of its markets.

Cautionary Note Regarding Forward-Looking Statements Certain statements in this release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, but are not limited to, statements concerning NYSE Euronext’s plans, objectives, expectations and intentions and other statements that are not historical or current facts. Forward-looking statements are based on NYSE Euronext’s current expectations and involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such forward-looking statements. Factors that could cause NYSE Euronext’s results to differ materially from current expectations include, but are not limited to: NYSE Euronext’s ability to implement its strategic initiatives, economic, political and market conditions and fluctuations, government and industry regulation, interest rate risk and U.S. and global competition, and other factors detailed in NYSE Euronext’s Registration Statement on Form S-4 (File No. 333-137506), NYSE Euronext Registration Statement (document de base) filed with the French Autorité des Marchés Financiers (Registered on November 30, 2006 under No. 06-0184), Annual Report on Form 10-K and other periodic reports filed with the U.S. Securities and Exchange Commission or the French Autorité des Marchés Financiers. In addition, these statements are based on a number of assumptions that are subject to change. Accordingly, actual results may be materially higher or lower than those projected. The inclusion of such projections herein should not be regarded as a representation by NYSE Euronext that the projections will prove to be correct. This press release speaks only as of this date. NYSE Euronext disclaims any duty to update the information herein.

Contact: Stephanie Scotto
Phone: 212.656.4896
Email: sscotto@nyse.com  

Edited by: Carl Winfield

Stay ahead of the news ... Sign up for our email alerts now

 Do You Recommend This Story?

Return to Top
 News Archives
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Add to My Yahoo!
follow us in feedly

©All rights reserved to InvestmentWires, Inc. 1997-2021
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use