New York, June 21, 2006 – JPMorgan Worldwide Securities Services, a leading global provider of securities services, today announced that ProShares has selected the firm to provide a full range of fund services including accounting, administration, transfer agency and custody services.
JPMorgan will be supporting ProShares in its launch of eight new exchange-traded funds (ETFs), which are based on key indexes such as the Standard & Poor’s 500, the Nasdaq 100 and the Dow Jones Industrial Average. The new ETFs include: Short QQQ ProShares (Amex: PSQ), Short S&P500 ProShares (Amex: SH), Short Midcap400 ProShares (Amex: MYY) and Short Dow30 ProShares (Amex: DOG), Ultra QQQ ProShares (Amex: QLD), Ultra S&P500 ProShares (Amex: SSO), Ultra MidCap400 Proshares (Amex: MVV), and the Ultra Dow30 ProShares (Amex: DDM), all of which begin trading today on the American Stock Exchange. ProShares is affiliated with ProFunds Group.
“ProShares selected JPMorgan to provide a full range of custody services because they have the people, technology and experience to help us make the launch of ProShares Exchange Traded Funds a success,” said Michael Sapir, CEO of ProShare Advisors LLC.
“JPMorgan Worldwide Securities Services is proud to help ProShares bring its ‘Short’ and ‘Ultra’ ETFs onto the American Stock Exchange,” said Phyllis Schroder, Vice President of New Business Development for JPMorgan Worldwide Securities Services. “JPMorgan has deep experience and a wide range of services for ETFs and mutual funds.”
JPMorgan has an established group of professionals dedicated to supporting all the needs of exchange traded funds. The firm offers custody, accounting and administrative services, portfolio trading, ETF sales, specialized ETF research and serve as an Authorized Participant for all major ETFs. Along with leading analytic trading and portfolio management technology and as a leader in equity derivatives, JPMorgan is well positioned to support clients’ research and execution needs.
For more information on JPMorgan and ETFs, go to
www.jpmorgan.com/visit/ETF.
About JPMorgan Worldwide Securities Services
JPMorgan Worldwide Securities Services, a division of JPMorgan Chase Bank, N.A., is a global industry leader with $11.7 trillion in assets under custody. JPMorgan provides innovative custody and securities products and services to the world's largest institutional investors and debt and equity issuers. JPMorgan Worldwide Securities Services leverages its scale and capabilities in more than 80 markets to help clients optimize efficiency, mitigate risk and enhance revenue through custody and investor services as well as securities clearance and trust services.
About JPMorgan Chase
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $1.3 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.
