The Bank of New York Mellon, asset management and securities servicing provider, has launched a new index that comprises a select group of depositary receipts (DRs) fromRussia. The Bank of New York Mellon Russia Select DR Index is a modified capitalization-weighted index that includes DRs trading on the London Stock Exchange and American depositary receipts (ADRs) trading on the New York Stock Exchange, American Stock Exchange and Nasdaq. The index is calculated on a continuous basis throughout the trading day and is adjusted for free-float, using Dow Jones’ current methodology.
“We developed this new DR index in response to today’s substantial market interest inRussia-based investment opportunities,” says Michael Cole-Fontayn, chief executive officer of The Bank of New York Mellon’s Depositary Receipt Division. “The Bank of New York Mellon Russia Select DR Index reflects our ongoing commitment to bringing the market a wide range of DR indices that allow investors to effectively benchmark their DR investments.”