News Releases

 
First Microcap ETF Begins Trading on New York Stock Exchange
iShares Russell Microcap™ Index ETF is Latest Addition
to NYSE, the Market of Choice for New ETFs
 
NEW YORK, Aug. 16, 2005 – The New York Stock Exchange announced that the iShares Russell Microcap Index Fund (NYSE: IWC) – the first ETF based on an index of microcap stocks – began trading today.  Using an underlying index as a subset of the Russell Microcap Index, which measures the performance of the U.S. equity microcap sector, IWC contains companies with market capitalizations ranging from approximately $50 million to $550 million.

“The Exchange is proud to list yet another innovative iShares fund that offers investors even greater portfolio diversification options,” said senior vice president of Competitive Position, Robert McSweeney.  “By adding the iShares Russell Microcap Index Fund to our growing list of ETFs, we continue to build upon our goal of being the market of choice for new ETF product listing and trading.”

The iShares Russell Microcap Index Fund represents about 3 percent of the total market capitalization for U.S. listed equities.  For more information on fund characteristics and components please visit www.ishares.com.

Including IWC, the Exchange is the primary listing market for 22 ETFs with 59 funds also available on a UTP basis.  As one of the leading markets for ETFs and related products, the New York Stock Exchange continues to build scale in the ETF arena by trading the most innovative ETFs, structured products and other derivative securities. 

On July 20, BGI announced the transfer of 61 iShares ETFs to the NYSE, making the Exchange the largest primary market for the complete iShares list.  The New York Stock Exchange is committed to further increasing its standing as a highly competitive marketplace and a market of choice for ETFs.



Contact: Eric Ryan
Phone: 212.656.2411
Email:  eryan@nyse.com