Bank of NY Creates New GDR/ADR Emerging Indexes

The Bank of New York Mellon (BK) has launched The Bank of New York Mellon GDR Index and 30 global depositary receipt (GDR) sub-indexes.

The GDR Index covers all the global depository receipts traded on the London Stock Exchange. The sub-indexes cover broad market, regional and country GDR exposure, with country benchmarks the largest group, numbering 23 sub-indexes.

The original BNY Mellon ADR index was created 10 years ago, and features 56 sub-indexes.

BNY Mellon has also melded the new GDR index with its existing ADR Index to create a depository receipt index covering all issues on the major U.S. exchanges and the LSE.

The hybrid Bank of New York Mellon DR Index includes all American depositary receipts (ADRs) listed on the New York Stock Exchange, the American Stock Exchange and NASDAQ, as well as all the GDRs that trade on the LSE.

Sub-indexes have also been created based on the hybrid DR index-one broad market, four regional, and eight country sub-indexes. Existing DR indexes from BNY Mellon include the Russia Select DR Index, Frontier Select DR Index, and the New Frontier DR Index.

The GDR Index, DR Index, and their sub-indexes, are cap-weighted, calculated on a continuous basis throughout the trading day, and are free-float adjusted using Dow Jones' methodology.

The regional GDR sub-indexes cover:

• Eastern Europe
• Eastern Europe ex-Russia
• MENA
• Middle East
• Africa
• Emerging Markets 

The country GDR sub-indexes cover:

• Bahrain
• Croatia
• Egypt
• Estonia
• Georgia
• Hungary
• India
• Israel
• Kazakhstan
• Kuwait
• Lebanon
• Netherlands
• Nigeria
• Oman
• Pakistan
• Poland
• Romania
• Russia
• South Korea
• Taiwan
• Turkey
• UAE
• Ukraine

The GDR Index has the ticker BKGDR (Bloomberg and Reuters), or &BGDR (Reuters Station). The DR Index has the ticker BKDRX (Bloomberg and Reuters) and &BDRX (Reuters Station).

Comments

[nyka:]

Instead of playing games wlith acronyms, BK should focus on jackling up its share price. Standing alone as Mellon Bank, the stock was worthless; it's reputation has gone even further downhill after its ill-timed merger with Bank of NY.

2008 Oct 29 08:11 PM

[nyka:]

make that its (not it's) reputation.

2008 Oct 29 08:12 PM