NEW YORK , January 29, 2010 –- NYSE Euronext (NYX) announced that its wholly-owned subsidiary, NYSE Arca, today began trading theGrail McDonnell Intermediate Municipal Bond ETF(Ticker: GMMB),and theGrail McDonnell Core Taxable Bond ETF(Ticker: GMTB).For each of these actively managed ETFs, theinvestment manager is Grail Advisors LLC, and the sub-advisor is McDonnell Investment Management, LLC.
Grail Advisors LLC Lists Two McDonnell Bond ETFs on NYSE Arca
Grail McDonnell Intermediate Municipal Bond ETF
The ETF seeks a high level of current tax-exempt income and higher risk-adjusted returns relative to its benchmark by investing, under normal circumstances, at least 80% of its net assets (plus the amount of any borrowings for investment purposes) in debt securities with interest payments exempt from federal income taxes. The ETF will typically invest in municipal securities and will invest, under normal market conditions, primarily in tax exempt general obligation, revenue and private activity bonds and notes, which are issued by or on behalf of states, territories or possessions of the U.S. and the District of Columbia and their political subdivisions, agencies and instrumentalities (including Puerto Rico, the Virgin Islands and Guam).
Grail McDonnell Core Taxable Bond ETF
The ETF seeks a high level of current tax-exempt income and higher risk-adjusted returns relative to its benchmark by investing, under normal circumstances, at least 80% of its net assets (plus the amount of any borrowings for investment purposes) in debt securities. The ETF will invest primarily in investment-grade securities, including securities issued by the U.S. Government, its agencies and instrumentalities, municipal securities, mortgage-backed and other asset-backed securities, and corporate and bank obligations, including commercial paper, corporate notes and bonds.
Please refer to the prospectus covering these two ETFs at www.grailadvisors.com for more information.
Background on Exchange Traded Products (ETPs) on NYSE Euronext
NYSE Euronext operates the world's largest Exchange Traded Products marketplace, and is the leading venue for Exchange Traded Funds (ETFs), Exchange Traded Notes (ETNs), Exchange Traded Vehicles (ETVs) and Warrants and Certificates trading. NYSE Euronext's offering of these products provides investors access to regulated listings as well as fast and innovative trading tools to access liquidity. NYSE Arca, NYSE Euronext's US market for ETFs, has 752 primary ETF and 50 primary ETV listings. Additionally, NYSE Arca lists 90 ETNs, 182 Certificates, while trading all other eligible ETPs on an Unlisted Trading Privileges basis. On its European markets, NYSE Euronext has 497 primary ETFs, 74 ETVs, 5 ETNs, with a total number of 576 listings across the European markets. In addition, NYSE Euronext lists a total of 1,722 Certificates and Covered Warrants in Paris , Amsterdam , Brussels and Lisbon .
About Grail Advisors LLC
Grail Advisors LLC, an innovator in the creation and distribution of actively managed Exchange Traded Funds, partners with established asset managers, distributors, and related financial institutions to design and deliver actively managed ETFs. Grail Advisors was created to deliver ETFs using fully disclosed active portfolio management to the global investment community. More information is available at www.grailadvisors.com.(Source: Grail Advisors)
About NYSE Euronext
NYSE Euronext (NYX) is a leading global operator of financial markets and provider of innovative trading technologies. The company's exchanges in Europe and the United States trade equities, futures, options, fixed-income and exchange-traded products. With more than 8,000 listed issues, NYSE Euronext's equities markets – the New York Stock Exchange, NYSE Euronext, NYSE Amex, NYSE Alternext and NYSE Arca – represent nearly 40 percent of the world's equities trading, the most liquidity of any global exchange group. NYSE Euronext also operates NYSE Liffe, the leading European derivatives business and the world's second-largest derivatives business by value of trading. The company offers comprehensive commercial technology, connectivity and market data products and services through NYSE Technologies. NYSE Euronext is in the S&P 500 index, and is the only exchange operator in the S&P 100 index and Fortune 500. For more information, please visit: http://www.nyx.com.
NYSE Euronext and its affiliates do not recommend or make any representation as to possible benefits from any securities or investments, or third-party products or services. Investors should undertake their own due diligence regarding their securities and investment practices. This press release speaks only as of this date. NYSE Euronext disclaims any duty to update the information herein.