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Wednesday, September 26, 2007

Are ETF Migrations the Beginning of an All ETF Exchange?

News summary by MFWire's editors

WisdomTree will begin migrating its ETFs from the NYSE to the NYSE-Arca exchange, beginning October 11. The NYSE group is of the opinion that "offering a single, harmonized platform for listing and trading ETFs will further improve efficiencies and market quality." If they get their way, look for many new ETF switches in the future.


NYSE Euronext (NYSE Euronext: NYX) today announced that WisdomTree Trust will begin the process of transferring its NYSE-listed exchange traded funds (ETFs) to the NYSE Arca listing and trading platform.

The first scheduled to migrate are the following 14 WisdomTree ETFs beginning on Oct. 11, 2007:

WisdomTree DEFA High-Yielding Equity Fund (DTH)
WisdomTree DEFA Fund (DWM)
WisdomTree Europe SmallCap Dividend Fund (DFE)
WisdomTree Japan SmallCap Dividend Fund (DFJ)
WisdomTree International MidCap Dividend Fund (DIM)
WisdomTree International SmallCap Dividend Fund (DLS)
WisdomTree International LargeCap Dividend Fund (DOL)
WisdomTree International Dividend Top 100 Fund (DOO)
WisdomTree Pacific ex-Japan Total Dividend Fund (DND)
WisdomTree Pacific ex-Japan High-Yielding Equity Fund (DNH)
WisdomTree Japan High-Yielding Equity Fund (DNL)
WisdomTree Japan Total Dividend Fund (DXJ)
WisdomTree High-Yielding Equity Fund (DHS)
WisdomTree Total Dividend Fund (DTD)


WisdomTree intends to transfer the remaining 18 NYSE-listed WisdomTree ETFs from the NYSE to NYSE Arca. The date of this transition will be announced shortly.

NYSE Arca’s all-electronic platform is the single largest liquidity pool for ETFs in the U.S. and presents a compelling value proposition for all market participants. In the first half of 2007, NYSE Arca handled 43% of all ETF shares traded in the U.S., representing an average daily volume of approximately 231.96 million shares per day.

All four existing NYSE ETF specialist firms are already acting as lead market makers in primary listings on NYSE Arca and will continue to provide value for investors and issuers while ensuring liquidity and reducing volatility. NYSE Group believes that offering a single, harmonized platform for listing and trading ETFs will further improve efficiencies and market quality.

About NYSE Euronext

NYSE Euronext, a holding company created by the combination of NYSE Group, Inc. and Euronext N.V., commenced trading on April 4, 2007 . NYSE Euronext (NYSE Euronext: NYX) operates the world’s largest and most liquid exchange group and offers the most diverse array of financial products and services. NYSE Euronext, which brings together six cash equities exchanges in five countries and six derivatives exchanges in six countries, is a world leader for listings, trading in cash equities, equity and interest rate derivatives, bonds and the distribution of market data. Representing a combined $30.8 trillion/€22.8 trillion total market capitalization of listed companies and average daily trading value of approximately $127.0 billion/€94.0 billion (as of June 29, 2007), NYSE Euronext seeks to provide the highest standards of market quality and integrity, innovative products and services to investors, issuers, and all users of its markets.

Cautionary Note Regarding Forward-Looking Statements This press release may contain forward-looking statements, including forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, but are not limited to, statements concerning NYSE Euronext's plans, objectives, expectations and intentions and other statements that are not historical or current facts. Forward-looking statements are based on NYSE Euronext's current expectations and involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such forward-looking statements. Factors that could cause NYSE Euronext's results to differ materially from current expectations include, but are not limited to: NYSE Euronext's ability to implement its strategic initiatives, economic, political and market conditions and fluctuations, government and industry regulation, interest rate risk and U.S. and global competition, and other factors detailed in NYSE Euronext’s reference document for 2006 ("document de référence") filed with the French Autorité des Marchés Financiers (Registered on June 6, 2007 under No. R.07-0089), 2006 Annual Report on Form 10-K, as amended, and other periodic reports filed with the U.S. Securities and Exchange Commission or the French Autorité des Marchés Financiers. In addition, these statements are based on a number of assumptions that are subject to change. Accordingly, actual results may be materially higher or lower than those projected. The inclusion of such projections herein should not be regarded as a representation by NYSE Euronext that the projections will prove to be correct. This press release speaks only as of this date. NYSE Euronext disclaims any duty to update the information herein.

There are risks involved with investing, including the possible loss of principal. Past performance does not guarantee future results. In addition to the normal risks of investing, international investing involves special risks, such as currency fluctuation or political uncertainty.

Investors should carefully consider the investment objectives, risks, charges and expenses of the Funds before investing. To obtain a prospectus containing this and other important information, please call 1-866-909-WISE (9473) or visit wisdomtree.com to view or download a prospectus online. Read the prospectus carefully before you invest.

WisdomTree Funds are distributed by ALPS Distributors, Inc. 

Edited by: Erin Kello


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