The American Stock Exchange and Singapore Exchange to Begin Trading ETFs and HOLDRS(SM) in Singapore on May 4

Apr 05, 2001, 01:00 ET from The American Stock Exchange

    NEW YORK, April 5 /PRNewswire/ -- The American Stock Exchange(R) (Amex(R))
 and Singapore Exchange (SGX) today announced Amex-listed exchange-traded funds
 (ETFs) and HOLDRS(SM) will begin listing and trading on SGX Securities Trading
 (SGX-ST) on May 4th.
     Today's announcement is the result of the agreement signed last June
 between Amex and SGX to create a joint venture for the trading of ETFs in the
 Asian time zone.  Under the agreement, a Singaporean joint venture company
 owned equally by both exchanges is being created to promote the listing and
 trading of ETFs and HOLDRS.
     "This launch will mark the first global and fungible ETF trading network.
 It will provide both retail and institutional investors with their first
 opportunity to trade ETFs across the North American and Asian time zones,"
 said Salvatore F. Sodano, Amex chairman and chief executive officer.
     Thomas A. Kloet, chief executive officer of SGX said, "ETFs will benefit
 investors in the Asia-Pacific region with a low-cost and efficient way to
 access the important market and sector indices of global and regional
 interest.  The offering of such a diverse and exciting array of products is in
 line with our strategy of diversifying our product range."
 
     SGX will list and trade the following products:
 
     -- S&P 500 SPDRs(R)
     -- DJIA DIAMONDS
     -- iShares(SM) S&P 500 Index Fund
     -- iShares(SM) MSCI Singapore Index Fund
     -- iShares(SM) S&P Europe 350 Index Fund
     -- iShares Dow Jones U.S. Technology Sector Index Fund
     -- Internet Architecture HOLDRS(SM)
     -- Biotech HOLDRS(SM)
     -- Europe 2001 HOLDRS(SM)
 
     Clearing and Settlement Arrangements
     The products will be cleared and settled through the coordinated efforts
 of the Depository Trust Company and the Central Depository (Pte) Limited,
 SGX's subsidiary responsible for securities clearing, settlement and
 depository services.  The Amex and SGX ETF trading network is fungible,
 meaning that an investor can buy an ETF or HOLDRS in Singapore and sell it in
 the US, and vice versa.  The Central Depository (CDP), maintains an account
 with its counterpart in the US, the Depository Trust Company (DTC),
 facilitating the cross-border transfers of ETFs or HOLDRS between CDP and DTC
 Participants.  The settlement period for ETFs is T+3.
     ETFs and HOLDRS are indexed funds or baskets of stocks that trade
 throughout the day in the same way as individual stocks and are designed to
 closely track the performance of a specific index or basket of stocks.  They
 can be liquid and cost-effective investment vehicles.  Retail or institutional
 investors buy a single share of a specific ETF or HOLDRS which track the
 movement of the index, whole business sector, national economy or region on
 which the fund is based.
     The American Stock Exchange pioneered the concept of ETFs in the U.S. in
 1993 with the introduction of SPDRs(R) -- Standard & Poor's Depositary
 Receipts(R), an exchange-traded unit investment trust based on the Standard &
 Poor's 500 Index(R).  There are now 97 ETF products trading on the Amex, with
 assets currently totaling nearly $70 billion.  In the fourth quarter of 2000,
 net new asset investment in ETFs exceeded inflows into equity mutual funds,
 according to a report published by Strategic Insight, a New York-based
 research firm.
     In February 2001, Amex announced plans to create a joint venture with
 Euronext, the first pan-European exchange, to cross list and trade U.S.,
 European and other internationally sourced ETFs.
 
     The American Stock Exchange
     The American Stock Exchange(R), a subsidiary of the National Association
 of Securities Dealers, Inc. (NASD(R)), is the only primary exchange that
 offers trading across a full range of equities, exchange-traded funds (ETFs),
 HOLDRS(SM), structured products and options.  In addition to its role as a
 national equities market, the Amex is the leader in ETF listings (DIAMONDS(R),
 FORTUNE 500(R) Index Tracking Stock, FORTUNE e-50(TM) Index Tracking Stock,
 iShares(SM), MidCap SPDRs(TM), Nasdaq-100 Index Tracking Stock(SM), Select
 Sector SPDRs(R), SPDRs(R) and streetTRACKS(SM) and is the second largest
 options exchange in the U.S., trading options on broad-based and sector
 indexes as well as domestic and foreign stocks.  For more information, visit
 http://www.amex.com.
 
     Singapore Exchange Ltd
     Singapore Exchange Ltd (SGX) was inaugurated on 1 December 1999, as Asia
 Pacific's first demutualised and integrated securities and derivatives
 exchange, following the merger of two established and well-respected financial
 institutions -- the Stock Exchange of Singapore (SES) and the Singapore
 International Monetary Exchange (SIMEX).  Leveraging on the combined strengths
 of the former entities, and through its innovative approach, broad range of
 products, strong international alliances and the best of technology, SGX aims
 to establish itself as a leading integrated exchange, expanding its presence
 in the global financial marketplace.  The exchange is a founding member of the
 GLOBEX(R) Alliance, the world's largest derivatives trading link.  It is also
 set to launch a cross trading link for securities with the Australian Stock
 Exchange (ASX).  On 23 November 2000, SGX became the first exchange in Asia
 Pacific to be listed via a public offer and a private placement. SGX is listed
 on its own Mainboard.  For more information, visit us at http://www.sgx.com.
     For more complete information and prospectuses, including potential risks,
 for SPDRs(R), MidCap SPDRs(TM) and DIAMONDS(R) (each sponsored by PDR Services
 LLC), Nasdaq-100 Index Tracking Stock(SM) (sponsored by Nasdaq-Amex Investment
 Products Services, Inc.) and Select Sector SPDRs(R) (sponsored by State Street
 Bank and Trust Company through its State Street Global Advisors division),
 call 1-800-THE-AMEX or visit http://www.amex.com; and for iShares(SM)
 (sponsored by Barclays Global Investors N.A.), call 1-800-iShares or visit
 http://www.ishares.com.  For HOLDRS (sponsored by Merrill Lynch & Co., Inc.)
 visit http://www.HOLDRS.com.  With respect to ETFs and HOLDRS listed on the
 SGX, as required under the Companies Act of Singapore, a statement including a
 prospectus will be available in Singapore for each product.  Read a prospectus
 carefully before you invest.  Exchange Traded Funds are subject to risks
 similar to those of stocks.  Investment returns may fluctuate and are subject
 to market volatility, so that an investor's shares, when redeemed or sold, may
 be worth more or less than their original cost.  Investments in foreign
 investments may incur unique and greater risks than domestic investments.
 Past performance is no guarantee of future results. ALPS Distributors, Inc., a
 registered broker-dealer, is distributor for the DIAMONDS(R), MidCap SPDR(TM),
 Nasdaq-100 Index Tracking Stock(SM) and SPDR(R) Trusts, all unit investment
 trusts, and the Select Sector SPDR Trust, an index fund.  iShares(SM) are
 distributed by SEI Investments Distribution Co.  Barclays Global Fund Advisors
 serves as an advisor to iShares and is a subsidiary of Barclays Global
 Investors, N.A., neither of which are affiliated with SEI Investments
 Distribution Co.  HOLDRS are distributed by Merrill Lynch, Pierce, Fenner &
 Smith Incorporated.
 
 

SOURCE The American Stock Exchange
    NEW YORK, April 5 /PRNewswire/ -- The American Stock Exchange(R) (Amex(R))
 and Singapore Exchange (SGX) today announced Amex-listed exchange-traded funds
 (ETFs) and HOLDRS(SM) will begin listing and trading on SGX Securities Trading
 (SGX-ST) on May 4th.
     Today's announcement is the result of the agreement signed last June
 between Amex and SGX to create a joint venture for the trading of ETFs in the
 Asian time zone.  Under the agreement, a Singaporean joint venture company
 owned equally by both exchanges is being created to promote the listing and
 trading of ETFs and HOLDRS.
     "This launch will mark the first global and fungible ETF trading network.
 It will provide both retail and institutional investors with their first
 opportunity to trade ETFs across the North American and Asian time zones,"
 said Salvatore F. Sodano, Amex chairman and chief executive officer.
     Thomas A. Kloet, chief executive officer of SGX said, "ETFs will benefit
 investors in the Asia-Pacific region with a low-cost and efficient way to
 access the important market and sector indices of global and regional
 interest.  The offering of such a diverse and exciting array of products is in
 line with our strategy of diversifying our product range."
 
     SGX will list and trade the following products:
 
     -- S&P 500 SPDRs(R)
     -- DJIA DIAMONDS
     -- iShares(SM) S&P 500 Index Fund
     -- iShares(SM) MSCI Singapore Index Fund
     -- iShares(SM) S&P Europe 350 Index Fund
     -- iShares Dow Jones U.S. Technology Sector Index Fund
     -- Internet Architecture HOLDRS(SM)
     -- Biotech HOLDRS(SM)
     -- Europe 2001 HOLDRS(SM)
 
     Clearing and Settlement Arrangements
     The products will be cleared and settled through the coordinated efforts
 of the Depository Trust Company and the Central Depository (Pte) Limited,
 SGX's subsidiary responsible for securities clearing, settlement and
 depository services.  The Amex and SGX ETF trading network is fungible,
 meaning that an investor can buy an ETF or HOLDRS in Singapore and sell it in
 the US, and vice versa.  The Central Depository (CDP), maintains an account
 with its counterpart in the US, the Depository Trust Company (DTC),
 facilitating the cross-border transfers of ETFs or HOLDRS between CDP and DTC
 Participants.  The settlement period for ETFs is T+3.
     ETFs and HOLDRS are indexed funds or baskets of stocks that trade
 throughout the day in the same way as individual stocks and are designed to
 closely track the performance of a specific index or basket of stocks.  They
 can be liquid and cost-effective investment vehicles.  Retail or institutional
 investors buy a single share of a specific ETF or HOLDRS which track the
 movement of the index, whole business sector, national economy or region on
 which the fund is based.
     The American Stock Exchange pioneered the concept of ETFs in the U.S. in
 1993 with the introduction of SPDRs(R) -- Standard & Poor's Depositary
 Receipts(R), an exchange-traded unit investment trust based on the Standard &
 Poor's 500 Index(R).  There are now 97 ETF products trading on the Amex, with
 assets currently totaling nearly $70 billion.  In the fourth quarter of 2000,
 net new asset investment in ETFs exceeded inflows into equity mutual funds,
 according to a report published by Strategic Insight, a New York-based
 research firm.
     In February 2001, Amex announced plans to create a joint venture with
 Euronext, the first pan-European exchange, to cross list and trade U.S.,
 European and other internationally sourced ETFs.
 
     The American Stock Exchange
     The American Stock Exchange(R), a subsidiary of the National Association
 of Securities Dealers, Inc. (NASD(R)), is the only primary exchange that
 offers trading across a full range of equities, exchange-traded funds (ETFs),
 HOLDRS(SM), structured products and options.  In addition to its role as a
 national equities market, the Amex is the leader in ETF listings (DIAMONDS(R),
 FORTUNE 500(R) Index Tracking Stock, FORTUNE e-50(TM) Index Tracking Stock,
 iShares(SM), MidCap SPDRs(TM), Nasdaq-100 Index Tracking Stock(SM), Select
 Sector SPDRs(R), SPDRs(R) and streetTRACKS(SM) and is the second largest
 options exchange in the U.S., trading options on broad-based and sector
 indexes as well as domestic and foreign stocks.  For more information, visit
 http://www.amex.com.
 
     Singapore Exchange Ltd
     Singapore Exchange Ltd (SGX) was inaugurated on 1 December 1999, as Asia
 Pacific's first demutualised and integrated securities and derivatives
 exchange, following the merger of two established and well-respected financial
 institutions -- the Stock Exchange of Singapore (SES) and the Singapore
 International Monetary Exchange (SIMEX).  Leveraging on the combined strengths
 of the former entities, and through its innovative approach, broad range of
 products, strong international alliances and the best of technology, SGX aims
 to establish itself as a leading integrated exchange, expanding its presence
 in the global financial marketplace.  The exchange is a founding member of the
 GLOBEX(R) Alliance, the world's largest derivatives trading link.  It is also
 set to launch a cross trading link for securities with the Australian Stock
 Exchange (ASX).  On 23 November 2000, SGX became the first exchange in Asia
 Pacific to be listed via a public offer and a private placement. SGX is listed
 on its own Mainboard.  For more information, visit us at http://www.sgx.com.
     For more complete information and prospectuses, including potential risks,
 for SPDRs(R), MidCap SPDRs(TM) and DIAMONDS(R) (each sponsored by PDR Services
 LLC), Nasdaq-100 Index Tracking Stock(SM) (sponsored by Nasdaq-Amex Investment
 Products Services, Inc.) and Select Sector SPDRs(R) (sponsored by State Street
 Bank and Trust Company through its State Street Global Advisors division),
 call 1-800-THE-AMEX or visit http://www.amex.com; and for iShares(SM)
 (sponsored by Barclays Global Investors N.A.), call 1-800-iShares or visit
 http://www.ishares.com.  For HOLDRS (sponsored by Merrill Lynch & Co., Inc.)
 visit http://www.HOLDRS.com.  With respect to ETFs and HOLDRS listed on the
 SGX, as required under the Companies Act of Singapore, a statement including a
 prospectus will be available in Singapore for each product.  Read a prospectus
 carefully before you invest.  Exchange Traded Funds are subject to risks
 similar to those of stocks.  Investment returns may fluctuate and are subject
 to market volatility, so that an investor's shares, when redeemed or sold, may
 be worth more or less than their original cost.  Investments in foreign
 investments may incur unique and greater risks than domestic investments.
 Past performance is no guarantee of future results. ALPS Distributors, Inc., a
 registered broker-dealer, is distributor for the DIAMONDS(R), MidCap SPDR(TM),
 Nasdaq-100 Index Tracking Stock(SM) and SPDR(R) Trusts, all unit investment
 trusts, and the Select Sector SPDR Trust, an index fund.  iShares(SM) are
 distributed by SEI Investments Distribution Co.  Barclays Global Fund Advisors
 serves as an advisor to iShares and is a subsidiary of Barclays Global
 Investors, N.A., neither of which are affiliated with SEI Investments
 Distribution Co.  HOLDRS are distributed by Merrill Lynch, Pierce, Fenner &
 Smith Incorporated.
 
 SOURCE  The American Stock Exchange