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Thursday, April 30, 2009

SSgA Suspends Creation Orders for an ETF

by: Armie Margaret Lee

The market movements in Taiwan have led State Street Global Advisors to suspend creation orders submitted today for the SPDR S&P Emerging Asia Pacific ETF, according to an SSgA spokeswoman. Boston-based SSgA continues to accept redemption orders.

The firm expects the ETF to resume operations tomorrow.

On Thursday, the Weighted Price Index of the Taiwan Stock Exchange jumped 378.51 points, or 6.74 percent, the largest percentage increase in 18 years, the Wall Street Journal reported. China Mobile's planned purchase of a stake in Far EasTone Communications fueled the rise.
Company Press Release

BOSTON--(BUSINESS WIRE)--State Street Global Advisors (SSgA), the investment management arm of State Street Corporation (NYSE: STT - News), today announced that it would exercise its right to deny creation orders submitted on April 30, 2009 for the SPDRŽ S&P Emerging Asia Pacific ETF (Symbol: GMF). Redemption orders for the SPDR S&P Emerging Asia ETF will continue to be accepted as described in the prospectus. The fund expects to resume operations tomorrow.

State Street Global Advisors is one of the largest ETF providers in the United States and globally. US assets under management for SPDR ETFs totaled more than $129.5 billion as of March 31, 2009.
 

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