NEW YORK, December 17, 2007 – NYSE Euronext (NYSE Euronext: NYX) and the Swedish Export Credit Corporation today announced that the ELEMENTS Linked to the SPECTRUM Large Cap U.S. Sector Momentum Index ETN (NYSE Euronext: EEH) will transfer from the NYSE to the NYSE Arca listing and trading platform. EEH is scheduled to transfer effective prior to the opening on Monday, December 31, 2007 .
ELEMENTS Linked to the SPECTRUM Large Cap U.S. Sector Momentum Index ETN to transfer to NYSE Arca
As previously announced, this planned market consolidation,initiated by specialist firms and in consultation with issuers, will be beneficial to investors in terms of savings, efficiency and overall market performance. As one of the most attractive and industry-preferred market structure for trading ETFs and ETNs, NYSE Arca, which utilizes dedicated liquidity providers in the form of Lead Market Makers (LMMs) and Market Makers (MMs), is one of the best platform to efficiently list and trade the over 240 NYSE Group listed ETFs and ETNs.
All existing NYSE specialist firms are able to act as LMMs in primary listings on NYSE Arca and will continue to provide value for investors and issuers while ensuring liquidity and reducing volatility. By offering a single, harmonized platform for listing and trading ETFs, NYSE Group will further improve efficiencies and market quality.
NYSE Arca’s all-electronic platform is the single largest liquidity pool for ETFs in the U.S. and presents a compelling value proposition for all market participants. In the first half of 2007, NYSE Arca handled 43% of all ETF shares traded in the U.S., representing an ADV of approximately 231.96 million shares per day.
Swedish Export Credit Corporation (SEK), rated AA+/Aa1, provides access to financial solutions for export and infrastructure. The main businesses include export credits, lending, structured financing, project financing, leasing, capital markets products, and financial advisory services. SEK was founded in 1962 and is owned by the Swedish state.
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 $30.8 trillion/€22.8 trillion total market capitalization of listed companies and average daily trading value of approximately $127.0 billion/€94.0 billion (as of June 29, 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
This press release may contain forward-looking statements, including 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 reference document for 2006 ("document de référence") filed with the French Autorité des Marchés Financiers (Registered on June 6, 2007 under No. R.07-0089), 2006 Annual Report on Form 10-K, as amended, 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.