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Van Eck Global transfers NYSE-listed ETFs

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NYSE Euronext has announced that Van Eck Global will transfer its NYSE-listed exchange-traded funds, the Market Vectors-Russia and Market Vectors-Global Alternative Energy ETFs, to the NYS

NYSE Euronext has announced that Van Eck Global will transfer its NYSE-listed exchange-traded funds, the Market Vectors-Russia and Market Vectors-Global Alternative Energy ETFs, to the NYSE Arca trading platform as of the opening of trading on Friday, December 14.

NYSE Arca’s all-electronic platform is the single largest public liquidity pool for ETFs in the USA. In the first half of 2007, NYSE Arca handled 43% of all ETF shares traded in the US, representing an average daily trading volume of approximately 231.96 million shares per day.

All four existing NYSE ETF specialist firms are already acting as LMMs in primary listings on NYSE Arca and will continue to provide value for investors and issuers while ensuring liquidity and reducing volatility. NYSE Group believes that offering a single, harmonized platform for listing and trading ETFs will further improve efficiencies and market quality.

The Market Vectors-Russia ETF’s objective is to replicate as closely as possible, before fees and expenses, the price and yield performance of the DAXglobal® Russia+ Index, a modified market-capitalization weighted index comprised of publicly traded companies domiciled in Russia. The Index includes common stocks and depository receipts of selected companies in Russia that are listed for trading on global exchanges.

The Market Vectors-Global Alternative Energy ETF’s objective is to replicate as closely as possible, before fees and expenses, the price and yield performance of the Ardour Global Index (Extra Liquid), a rules based, global capitalization-weighted, float adjusted index intended to give investors a means of tracking the overall performance of a global universe of listed companies engaged in the alternative energy industry.

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