The Bank of New York has been chosen by Claymore Securities to be the service provider of five new exchange-traded funds, including the first ETF to focus on the emerging market countries of Brazil, Russia, India and China (BRIC).
The additional ETFs are the Claymore/Zacks Yield Hog ETF (CVY), Claymore/Zacks Sector Rotation ETF (XRO), Claymore/Sabrient Insider ETF (NFO) and Claymore/Sabrient Stealth (STH) have also been launched on the American Stock Exchange.
“The Bank of New York was the natural choice for our new ETFs, based both upon the tenure of our mutually beneficial partnership and the Bank’s acknowledged position as a leader in ETF services and the ADR index arena,” says David C. Hooten, chairman and CEO of Claymore.
“We launched our BRIC Select ADR Index this year to provide investors with exposure to carefully chosen ADRs in sought-after emerging market countries,” says Christopher Sturdy, executive vice president and head of The Bank of New York’s depositary receipt division. “We are delighted that Claymore has chosen to build an ETF around the index, expanding the market’s access to ADRs from these high-potential regions.”
The Bank of New York’s BRIC Select ADR Index is a group of American depositary receipts from Brazil, Russia, India and China. The Index is a division of the bank’s ADR IndexSM, the only index that can track and trade depository receipts, New York shares and global registered shares on the New York Stock Exchange, American Stock Exchange and NASDAQ.