02.06.2008 21:33:00
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NYSE Arca Options to Begin Trading Options on SPDR(R) Gold Trust
NYSE Euronext (NYX) and World Gold Trust Services LLC, a wholly-owned
subsidiary of the World Gold Council today announced that the U.S.
Securities and Exchange Commission (SEC) and the U.S. Commodity Futures
Trading Commission (CFTC) approved the launch of options contracts on
the SPDR® Gold Trust (NYSE Arca: GLD).
Effective Tuesday, June 3, 2008, NYSE Arca Options will begin trading
options on GLD. This is the first U.S. option offering for a
commodity-based exchange-traded product.
"It has been our privilege to work with the
World Gold Council since listing SPDR Gold Trust in 2004 as a
first-of-a-kind product that underscores our collective commitment to
raising the profile of gold as an investment alternative,”
said Lisa Dallmer, Senior Vice President, ETFs and Indexes, NYSE Arca.
"We are delighted that options on the SPDR
Gold Trust have been approved by the SEC and CFTC,”
said James Burton, CEO of World Gold Council, sponsor of the SPDR Gold
Trust. "At a time when interest in gold is at
a high, this announcement comes as good news for investors and marks
another important step in the success story of GLD.”
Ed Boyle, Senior Vice President, NYSE Arca Options added, "Participating
in another first by trading options on GLD demonstrates NYSE Euronext's
commitment to helping our issuers bring innovative products to the
broadest market possible and fits well with our investor friendly
price-time priority options market model."
Launched by World Gold Trust Services in November 2004, SPDR Gold Trust,
the first U.S. commodity-based exchange traded security, has emerged as
one of the fastest growing exchange traded products. State Street Global
Markets, LLC serves as marketing agent for GLD. As of May 29, 2008,
assets under management in the SPDR Gold Trust totaled approximately
$16.96 billion (597.73 tonnes), making it the sixth largest US ETF by
assets.
About World Gold Trust Services, LLC.
World Gold Trust Services, LLC is a wholly owned subsidiary of the World
Gold Council (WGC) which is a commercially-driven marketing organization
that is funded by the world’s leading gold
mining companies. A global advocate for gold, the WGC aims to promote
the demand for gold in all its forms through marketing activities in
major international markets. For further information, visit www.gold.org.
About State Street Global Advisors
State Street Global Advisors, the investment management arm of State
Street Corporation (NYSE: STT), delivers investment strategies and
integrated solutions to clients worldwide across every asset class,
investment approach and style. With $2 trillion in assets under
management at March 31, 2008, State Street Global Advisors has
investment centers in Boston, Hong Kong, London, Montreal, Toronto,
Munich, Paris, Singapore, Sydney, Tokyo and Zurich, and offices in 27
cities worldwide. For more information, visit State Street Global
Advisors at www.ssga.com.
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. NYSE Euronext's nearly 4,000 listed companies represent a
combined $30.9/ €19.8 trillion in total
global market capitalization (as of April 30, 2008), more than four
times that of any other exchange group. NYSE Euronext's equity exchanges
transact an average daily trading value of approximately $161.9 / €106.9
billion (as of April 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, please visit www.nyx.com.
The SPDR Gold Trust has filed a registration statement (including a
prospectus) with the SEC with respect to the SPDR Gold Shares. You
should read the prospectus in that registration statement and other
documents the SPDR Gold Trust has filed with the SEC for more complete
information about the SPDR Gold Trust and SPDR Gold Shares. You may get
these documents for free by visiting EDGAR on the SEC website at www.sec.gov.
Alternately, the SPDR Gold Trust or any Authorized Participant in
respect of the SPDR Gold Shares will arrange to send you the prospectus
if you request it by calling toll free at 1-866-320-4053 or contacting
State Street Global Markets, LLC, One Lincoln Street, Attn: SPDR Gold, 30th
Floor, Boston, MA 02111.
The prospectus contains material information about the SPDR Gold Trust
and its Shares which is material and/or which may be important to you.
You should read the entire prospectus, including "Risk
Factors” before making an investment decision
about the Shares.
Shareholders of the SPDR Gold Trust do not have the protections
associated with ownership of shares in an investment company registered
under the Investment Company Act of 1940 or the protections afforded by
the Commodity Exchange Act of 1936. The SPDR Gold Trust is not
registered as an investment company under the Investment Company Act of
1940 and is not required to register under such act. Neither World
GoldTrust Services, LLC nor the Trustee of the SPDR Gold Trust is
subject to regulation by the CFTC. Shareholders do not have the
regulatory protections provided to investors in CEA-regulated
instruments or commodity pools.
The "SPDR”
trademark is used under license from The McGraw-Hill Companies, Inc. No
financial product offered by World Gold Trust Services, LLC, or its
affiliates is sponsored, endorsed, sold or promoted by The McGraw-Hill
Companies, Inc. ("McGraw-Hill”).
McGraw-Hill makes no representation or warranty, express or implied, to
the owners of any financial product or any member of the public
regarding the advisability of investing in securities generally or in
financial products particularly or the ability of the index on which
financial products are based to track general stock market performance.
McGraw-Hill is not responsible for and has not participated in any
determination or calculation made with respect to issuance or redemption
of financial products. McGraw-Hill has no obligation or liability in
connection with the administration, marketing or trading of financial
products.
WITHOUT LIMITING ANY OF THE FOREGOING, IN NO EVENT SHALL McGRAW-HILL
HAVE ANY LIABILITY FOR ANY SPECIAL, PUNITIVE, INDIRECT, OR CONSEQUENTIAL
DAMAGES (INCLUDING, BUT NOT LIMITED TO, LOST PROFITS), EVEN IF NOTIFIED
OF THE POSSIBILITY OF SUCH DAMAGES.
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