The Benjamin Graham methodology seeks to identify businesses with strong, liquid balance sheets that trade at a discount to their implied intrinsic value by implementing the investment principles of Benjamin Graham through a quantitative, objective process utilizing modern portfolio theory and statistical analysis. The following ETNs are linked to indexes that track a portfolio of U.S. stocks selected according to the Benjamin Graham Methodology:
Benjamin Graham Large Cap Value ELEMENTS (NYSE Arca: BVL )
Benjamin Graham Small Cap Value ELEMENTS (NYSE Arca: BSC )
Benjamin Graham Total Market Value ELEMENTS (NYSE Arca: BVT )
Benjamin Graham was a Columbia University Professor and well-known author in securities analysis. Considered by many to be one of the fathers of value investing, Benjamin Graham’s financial roots trace back to the New York Stock Exchange and stem from his career as a clerk and later a broker on the floor of the NYSE. Benjamin Graham died in 1976, but through his books and students his investing philosophies live on.
Deutsche Bank AG (NYSE: DB) will issue the ELEMENTS, Nuveen Hyde Park is the index sponsor and Nuveen Investments and Merrill Lynch & Co, Inc. (NYSE:MER ) will co-distribute the ETNs.
Background about ELEMENTS ETNs
ELEMENTS ETNs are designed to track the return of specific underlying market indexes and seek to provide convenient access to strategies and markets that traditionally have not been readily available to individual investors. ELEMENTS ETNs can be purchased or sold through brokers, financial advisors and most trading platforms. For more information about ELEMENTS, please visit www.ELEMENTSetn.com or call 1-877-ETN-ADVICE (1-877-386-2384).
As the first fully electronic platform to utilize designated liquidity providers, NYSE Arca sets the national best bid and offer nearly 85% of the time, leading all U.S. exchanges. NYSE Arca remains an established leader in the ETF and ETN market place offering investors some of the industry’s fastest and most innovative trading tools to access liquidity.
Including today’s listings, NYSE Arca has 270 primary ETF and 79 ETN listings and trades all other eligible ETFs on a UTP basis. As a leader in ETF and ETN listings and trading, such products listed on NYSE Arca represent 55% of ETF and ETN assets under management in the U.S., nearly $590 billion, the most of any exchange. In 2007, NYSE Arca added 122 new ETFs and ETNs to its roster of primary
listings, including a record 101 IPOs. For 2007, NYSE Arca was the primary listing exchange of choice with a total of 261 ETFs and ETNs listed.
About NYSE Euronext
NYSE Euronext (NYX) operates the world’s leading and most liquid exchange group, and seeks to provide the highest levels of quality, customer choice and innovation. Its family of exchanges, located in six countries, includes the New York Stock Exchange, the world's largest cash equities market; Euronext, the Eurozone's largest cash equities market; Liffe, Europe's leading derivatives exchange by value of trading; and NYSE Arca Options, one of the fastest growing U.S. options trading platforms. NYSE Euronext offers a diverse array of financial products and services for issuers, investors and financial institutions in cash equities, options and derivatives, ETFs, bonds, market data, and commercial technology solutions. As the world’s largest exchange group by number of listings and market capitalization, NYSE Euronext is home to nearly 4,700 listed issues representing a combined $26.7 / 17.1€ trillion (as of June 30, 2008) in total global market capitalization, more than four times that of any other exchange group. NYSE Euronext's equity exchanges transact an average daily trading value of approximately $157.0 /102.7€ billion (as of June 30, 2008), which represents more than one-third of the world's cash equities trading. NYSE Euronext is part of the S&P 500 index and the only exchange operator in the S&P 100 index. For more information and free real-time stock prices for all NYSE-listed securities, please visit www.nyx.com .
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 2007 (“document de référence”) filed with the French Autorité des Marchés Financiers (Registered on May 15, 2008 under No. R. 08-054), 2007 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.