American Stock Exchange Lists SPDR(R) Lehman Municipal Bond ETF
14 September 2007 - 1:03AM
PR Newswire (US)
NEW YORK, Sept. 13 /PRNewswire/ -- The American Stock Exchange(R)
(Amex(R)) today announced that it has launched trading in the
SPDR(R) Lehman Municipal Bond ETF (AMEX:TFI) by State Street Global
Advisors (SSgA). "Amex is pleased to work with State Street as they
continue to grow their family of fixed income ETFs," said Scott
Ebner, Senior Vice President, Amex ETF Marketplace. "TFI gives
investors access to the US municipal bond market and provides
income that is exempt from federal income taxes." TFI seeks to
replicate the price and yield performance of the Lehman Brothers
Municipal Managed Money Index. The Index is a rules-based, market-
value weighted index engineered for the tax exempt bond market. All
bonds in the Index must be rated Aa3/AA or higher by at least two
of the following statistical ratings agencies: Moody's, S&P,
Fitch. Each index component must have an outstanding par value of
at least $7 million and be issued as part of transaction of at
least $75 million. The bonds must be fixed rate, have been issued
within the last five years, and must be at least one year from
their maturity date. Bonds subject to Federal alternative minimum
tax, hospital bonds, housing bonds, tobacco bonds, and airline
bonds, along with remarketed issues, taxable municipal bonds,
floaters, and derivatives are all excluded from the Index. Kellogg
Capital Group, LLC is the specialist for TFI. About the American
Stock Exchange The American Stock Exchange(R) (Amex(R)) offers
trading across a full range of equities, options and exchange
traded funds (ETFs), including structured products and HOLDRS(SM).
In addition to its role as a national equities market, the Amex is
the pioneer of the ETF, responsible for bringing the first domestic
product to market in 1993. Leading the industry in ETF listings,
the Amex lists 337 ETFs to date. The Amex is also one of the
largest options exchanges in the U.S., trading options on
broad-based and sector indexes as well as domestic and foreign
stocks. For more information, please visit http://www.amex.com/.
DATASOURCE: American Stock Exchange CONTACT: Bari Trontz of
American Stock Exchange, +1-212-306-8964, Web site:
http://www.amex.com/
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