NEW YORK, April 9, 2014 /PRNewswire/ -- BNY Mellon, a global leader in investment management and investment services, and OTC Markets Group Inc., operator of Open, Transparent and Connected financial marketplaces, today launched the OTCQX ADR 30 Index ("OTCQX30").
The new index is comprised of the top 30 OTCQX ADRs based on market capitalization, volume and liquidity, including such well-known global companies as AXA (OTCQX: AXAHY), Adidas AG (OTCQX: ADDYY), British Sky Broadcasting Group Plc (OTCQX: BSYBY), Danone (OTCQX: DANOY), and Roche Holding Ltd. (OTCQX: RHHBY).
The majority of sponsored depositary receipt programs are Level I facilities that trade OTC.
"We are pleased to be launching our second ADR index in cooperation with BNY Mellon," said R. Cromwell Coulson, president and CEO of OTC Markets Group. "OTCQX ADRs are among the most actively traded ADRs on our marketplaces and are required to meet high financial and disclosure standards. We look forward to the increased awareness the OTCQX 30 Index will bring to the high quality global companies trading on OTCQX."
"Leveraging the success of the OTCM ADR Index launched in 2012, we built the OTCQX30 in response to investor demand for more robust index products," said Christopher M. Kearns, CEO of BNY Mellon's Depositary Receipts business. "This new benchmark capitalizes on the transparency and liquidity of the OTCQX marketplace and reflects the commitment of DR issuers in this dynamic space."
OTCQX30 is a rules-based index that is market capitalization weighted, adjusted for free float, with various liquidity screens to ensure tradability. Pricing for the index is disseminated in real-time on all major financial platforms, enabling investors to easily monitor the performance of the largest OTCQX ADRs during U.S. trading hours.
OTC Markets Group Inc. (OTCQX: OTCM) operates Open, Transparent and Connected financial marketplaces for 10,000 U.S. and global securities. Through our OTC Link® ATS, we directly link a diverse network of broker-dealers that provide liquidity and execution services for a wide spectrum of securities. We organize these securities into marketplaces to better inform investors of opportunities and risks – OTCQX®, The Best Marketplace; OTCQB®, The Venture Stage Marketplace; and OTC Pink®, The Open Marketplace. Our data-driven platform enables investors to easily trade through the broker of their choice and empowers a broad range of companies to improve the quality and availability of information for their investors. To learn more about how we create better informed and more efficient financial marketplaces, visit www.otcmarkets.com.
OTC Link ATS is operated by OTC Link LLC, member FINRA/SIPC and SEC regulated ATS.
BNY Mellon acts as depositary for more than 2,700 American and global depositary receipt programs, acting in partnership with leading companies from 65 countries. BNY Mellon is committed to helping securities issuers access the world's rapidly evolving financial markets and delivers a comprehensive suite of depositary receipt services. Learn more at www.bnymellon.com/dr
BNY Mellon is a global investments company dedicated to helping its clients manage and service their financial assets throughout the investment lifecycle. Whether providing financial services for institutions, corporations or individual investors, BNY Mellon delivers informed investment management and investment services in 35 countries and more than 100 markets. As of Dec. 31, 2013, BNY Mellon had $27.6 trillion in assets under custody and/or administration, and $1.6 trillion in assets under management. BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Learn more at www.bnymellon.com, or follow us on Twitter @BNYMellon.
This release is for informational purposes only. BNY Mellon provides no advice nor recommendation or endorsement with respect to any company or securities. Nothing herein shall be deemed to constitute an offer to sell or a solicitation of an offer to buy securities. Depositary Receipts: Not FDIC, State or Federal Agency Insured; May Lose Value; No Bank, State or Federal Agency Guarantee. BNY Mellon provides no advice nor recommendations or endorsement with respect to any company, security or products based on any index licensed by BNY Mellon, and we make no representation regarding the advisability of investing in the same.
Joseph F. Ailinger Jr.
OTC Markets Group
SOURCE BNY Mellon; OTC Markets Group Inc.