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Tuesday, May 22, 2007

JPMorgan Intros Depositary Receipt Index Program

News summary by MFWire's editors

JPMorgan has launched its first Depositary Receipt Index program. The 12 new indexes will provide retail and institutional investors with new investable benchmarks for global equity performance. The indexes are made up of exchange-listed and traded American Depositary Receipts (ADRs) and Global Depositary Receipts (GDRs).


JPMorgan today announced the launch of its first Depositary Receipt Index program with a dozen indexes designed to provide retail and institutional investors with new investable benchmarks for global equity performance.

JPMorgan’s 12 new indexes are comprised of exchange-listed and traded American Depositary Receipts (ADRs) and Global Depositary Receipts (GDRs). The six regional, three sector and three composite indexes are calculated real-time by Standard & Poor’s and provide price return, as well as total return including dividend yield information. The indexes, which are the intellectual property of JPMorgan, are available through all major market data vendors and by using the JPDX prefix on Bloomberg. Standard & Poor’s provides the real-time daily calculation for these custom indexes.

“This is JPMorgan’s first Depositary Receipt Index program and we have designed these indexes to satisfy the growing demand for global investment products. Retail and institutional investors can now benchmark the performance of their international equity holdings against our indexes,” said Claudine Cardillo-Rivot, global head of JPMorgan’s Depositary Receipt business. “These indexes also provide investment opportunities for institutional investors and fund managers who are looking at developing new structured products.”

The indexes offer exposure to a broad range of companies in a variety of desirable sectors and markets. They are designed to be highly transparent to the investment community with rigorous screens to ensure their integrity. The indexes feature only highly liquid programs to ensure relevance and reliability.

”The calculation of these 12 new indexes exemplifies Standard & Poor’s ability to independently calculate real-time, custom solutions across all sectors and regions of the world,” said Tim Eisenhauer, Senior Director at Standard & Poor’s Index Services. “Through this agreement, Standard & Poor’s Custom Index group will be the calculator behind JPMorgan’s Depositary Receipt Index program which is expected to serve as the underlying basis of future structured products.”

The new JPMorgan Depositary Receipt Index program includes the following regional, sector and composite indexes:

Regional Indexes JP Morgan Depositary Receipt Emerging Markets 100 Index (JPDXEMI)

JP Morgan Depositary Receipt Brazil, Russia, India, China 50 Index (JPDXTOP)

JP Morgan Depositary Receipt Korea, Taiwan, India 25 Index (JPDXKTI)

JP Morgan Depositary Receipt Latin America 30 Index (JPDXLAT)

JP Morgan Depositary Receipt China 25 Index (JPDXPRC) JP Morgan Depositary Receipt Developed Markets 100 Index (JPDXDEV)

Sector Indexes JP Morgan Depositary Receipt Oil, Gas, and Mining (OGM) 25 Index (JPDXOGM)

JP Morgan Depositary Receipt Technology, Media, Telecom (TMT) Index (JPDXTMT)

JP Morgan Depositary Receipt Financial 25 Index (JPDXFIN)

Composite Indexes

JP Morgan Depositary Receipt Composite Index (JPDXCOM)

JP Morgan Depositary Receipt Emerging Markets Composite Index (JPDXEMC)

JP Morgan Global Depositary Receipt Composite Index (JPDXGDR)

For market information on Depositary Receipts (DRs) and international equities go to JPMorgan’s award-winning web site www.adr.com. For more information on JPMorgan’s Depositary Receipt services go to http://www.jpmorgan.com/visit/adr

DRs are securities that represent ownership in foreign corporations. These dollar-denominated securities typically trade on the U.S. and/or European markets and settle in accordance with those market standards.

JPMorgan recently celebrated the 80th anniversary of the ADR, having created and launched the first-ever ADR on April 29, 1927 for British retailer Selfridges. Today, more than 1,800 companies from over 75 countries sponsor over 2,200 DR programs in the form of ADRs that list on U.S. exchanges or GDRs, which typically list in London or Luxembourg.

The JPMorgan Depositary Receipts business is part of JPMorgan Worldwide Securities Services.

About JPMorgan Worldwide Securities Services JPMorgan Worldwide Securities Services, a division of JPMorgan Chase Bank, N.A., is a global industry leader with $14.7 trillion in assets under custody. JPMorgan provides innovative custody, fund accounting and administration and securities services to the world's largest institutional investors, alternative asset managers and debt and equity issuers. JPMorgan Worldwide Securities Services leverages its scale and capabilities in more than 90 markets to help clients optimize efficiency, mitigate risk and enhance revenue through a broad range of investor services as well as securities clearance, collateral management and alternative investment services.

About JPMorgan Chase JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $1.4 trillion and operations in more than 50 countries. The firm is a leader in investment banking, financial services for consumers, small business and commercial banking, financial transaction processing, asset and wealth management, and private equity. A component of the Dow Jones Industrial Average, JPMorgan Chase serves millions of consumers in the United States and many of the world’s most prominent corporate, institutional and government clients under its JPMorgan and Chase brands. Information about the firm is available at www.jpmorganchase.com.  

Edited by: Erin Kello


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