Products November 18, 2009

BNY Mellon Launches Composite Depository Receipts Index

November 18, 2009 (PLANSPONSOR.com) - BNY Mellon has announced the launch of the BNY Mellon Composite Depositary Receipts Index.

Reported by

A press release said the new Index is an “all-encompassing measure of the depositary receipts universe.”

The BNY Mellon Composite Depositary Receipts Index comprises all American depositary receipts (ADRs), New York Shares, and Global Registered Shares that trade on the New York Stock Exchange (NYSE), NYSE Amex, NASDAQ and over-the-counter (OTC), as well as global depositary receipts (GDRs) that trade on the London Stock Exchange (LSE).  

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 The Index is the “umbrella index” for the company’s four existing DR indexes:

  • ADR Index  —  tracks all ADRs traded on the NYSE, NYSE Amex and NASDAQ;
  • GDR Index —  tracks all GDRs traded on the LSE;
  • DR Index —  tracks a  combination of the ADR Index and GDR Index; and
  • Classic ADR Index —  tracks all ADRs traded on the NYSE, NYSE Amex, NASDAQ and OTC.

 A company spokesperson said all of BNY Mellon’s DR-based indexes are 100% investable for institutional investors, and that “more and more ETFs are being hung on these indexes as U.S. investors look to international and emerging markets for greater portfolio diversification.”

More information is at www.bnymellondrindex.com .

Benefits November 18, 2009

Regions Reinstates Retirement Benefits

November 18, 2009 (PLANSPONSOR.com) – Regions Financial Corp. chief executive Dowd Ritter told employees the bank will restore its 401(k) matching contributions and restart its accruals on employees’ pension plans in January.

Reported by

In addition, Ritter said all associates will be eligible for a merit pay increase next year based on their individual performance, the Birmingham Business Journal reported. “Many economists believe that the worst part of this economic downturn is behind us, which is why we are reinstating these important benefits,” Ritter said in the letter, according to the news report.

When the bank announced the suspension of retirement benefits in February (see Regions Financial Trades Match for Jobs ), it said it was “making targeted expense cuts to save jobs.”

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