NYSE Euronext (NYX) today announced the listing of four Direxion Shares ETFs on NYSE Arca. The ETFs, which seek to provide three times the performance (or three times the inverse) of the daily performance of the indexes they are tied to, are the first Direxion Shares ETFs to list on NYSE Arca.
The Direxion Shares ETF Trust (“Trust”) is a registered investment company offering a number of separate exchange-traded funds (“Funds”). The Funds seek to provide daily investment results, before fees and expenses, that correspond to the performance of a particular index or benchmark. The Funds with the word “Bull” in their name (collectively, the “Bull Funds”) attempt to provide investment results that correlate positively to the return of an index or benchmark, meaning the Bull Funds attempt to move in the same direction as the target index or benchmark. The Funds with the word “Bear” in their name (collectively, the “Bear Funds”) attempt to provide investment results that correlate negatively to the return of an index or benchmark, meaning that the Bear Funds attempt to move in the opposite or inverse direction of the target index or benchmark. The correlations sought by the Bull Funds and the Bear Funds are generally a multiple of the returns of the target index or benchmark.
"We are thrilled to list the first Direxion Shares ETFs on NYSE Arca," said Lisa M. Dallmer, SVP, Global Index and Exchange Traded Products, NYSE Euronext. "Today's listing demonstrates NYSE Euronext's growing breadth of issuer relationships and commitment to bringing some of the most uniquely designed funds to market".
Name and ticker symbol of the 4 Direxion Shares ETF Trusts trading on NYSE Arca:
|Direxion Trust||Name of ETF||Symbol|
|Direxion Shares ETF Trust||Large Cap Bull 3x Shares||BGU|
|Direxion Shares ETF Trust||Small Cap Bull 3x Shares||TNA|
|Direxion Shares ETF Trust||Large Cap Bear 3x Shares||BGZ|
|Direxion Shares ETF Trust||Small Cap Bear 3x Shares||TZA|
Background on NYSE Arca-Listed ETFs and ETNs
Exchange traded products listed on NYSE Arca represent 61% of ETF and ETN assets under management in the U.S., nearly $304 billion, the most of any exchange. As the first fully electronic platform to utilize designated liquidity providers, NYSE Arca sets the national best bid and offer nearly 82% of the time, leading all U.S. exchanges. NYSE Arca remains an established leader in the ETF and ETN marketplace offering investors some of the industry’s fastest and most innovative trading tools to access liquidity. Including today’s listings, NYSE Arca has 427 primary ETF listings. Additionally, NYSE Arca lists 82 ETNs and 18 certificates and trades all other eligible ETFs on a UTP basis.
About NYSE Euronext
NYSE Euronext (NYX) is the world’s leading, most liquid and diverse exchange group. It offers a broad and growing array of financial products and services in cash equities, futures, options, exchange-traded products, bonds, market data, and commercial technology solutions, all designed to meet the evolving needs of issuers, investors and financial institutions. Spanning multiple asset classes and six countries, NYSE Euronext’s exchanges include the New York Stock Exchange, Liffe, Euronext and NYSE Arca. With more than 6,500 listed issues, more than any other exchange group, trading on NYSE Euronext’s equity markets represents more than one-third of the world’s cash equities volume. NYSE Euronext also manages the leading European derivatives exchange by value of 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.
Cautionary Note Regarding Forward-Looking Statements
This press release may contain forward-looking statements, including forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, but are not limited to, statements concerning NYSE Euronext’s plans, objectives, expectations and intentions and other statements that are not historical or current facts. Forward-looking statements are based on NYSE Euronext’s current expectations and involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such forward-looking statements. Factors that could cause NYSE Euronext’s results to differ materially from current expectations include, but are not limited to: NYSE Euronext’s ability to implement its strategic initiatives, economic, political and market conditions and fluctuations, government and industry regulation, interest rate risk and U.S. and global competition, and other factors detailed in NYSE Euronext’s reference document for 2007 (“document de référence”) filed with the French Autorité des Marchés Financiers (Registered on May 15, 2008 under No. R. 08-054), 2007 Annual Report on Form 10-K and other periodic reports filed with the U.S. Securities and Exchange Commission or the French Autorité des Marchés Financiers. In addition, these statements are based on a number of assumptions that are subject to change. Accordingly, actual results may be materially higher or lower than those projected. The inclusion of such projections herein should not be regarded as a representation by NYSE Euronext that the projections will prove to be correct. This press release speaks only as of this date. NYSE Euronext disclaims any duty to update the information herein.
Direxion Shares and Direxion Funds, managed by Rafferty Asset Management, LLC, offer leveraged index funds, ETFs and alternative-class fund products for investment advisors and sophisticated investors who seek to effectively manage risk and return in both bull and bear markets. Founded in 1997, the company has approximately $1.6 billion in assets under management. The company’s business model is built on continuous product innovation, exceptional customer service and a commitment to building strategic relationships with distribution partners. For more information, please visit www.direxionfunds.com or www.direxionshares.com.
To request more information on Direxion Shares 3x ETFs, or to speak to a member of the Direxion team, please contact Carol Graumann of JC Public Relations at 973-732-3521 or email@example.com.
An investor should consider the investment objectives, risks, charges, and expenses of Direxion Shares carefully before investing. The prospectus contains this and other information about Direxion Shares. To obtain a prospectus, please visitwww.direxionshares.com. The prospectus should be read carefully before investing.
Investing in index funds may be more volatile than investing in broadly diversified funds. The use of leverage by a mutual fund increases the risk to the fund. The more a fund invests in leveraged instruments, the more the leverage will magnify gains or losses on those investments. The risks associated with the funds are detailed in the prospectus. These include risks of market timing activity and high portfolio turnover; risk of tracking error; risks of aggressive investment techniques; leverage risk; counterparty risks; risks of non-diversification, interest rate changes and adverse market conditions; risks of shorting instruments; inverse correlation risk; risks of investing in equity securities; risks of investing in small- and mid-capitalization companies, credit risk, risks of investing in real estate instruments; risk of investing in technology companies; concentration risk and geographic concentration risk. Aggressive investing would include the use of futures, enhanced betas, and shorting securities. Shorting securities occurs when investors sell securities they don’t own and are committed to repurchasing eventually.
Direxion Shares are distributed by Foreside Fund Services, LLC.
Judy Shaw, 212-656-4290