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Article: The Bank of New York Appointed Trustee for Barclays Global Investors, N.A. Silver Trust.
- Article from:
- Business Wire
- Article date:
- April 28, 2006
CopyrightCOPYRIGHT 2006 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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NEW YORK -- The Bank of New York, a global leader in securities servicing, has been appointed trustee for Barclays Global Investors, N.A.'s silver shares, named iShares(R) Silver Trust. iShares(R) Silver Trust is the first U.S. exchange-traded basket product backed solely with silver, using an innovative process for equitizing a physical commodity. The shares trade on the American Stock Exchange under the symbol "SLV."
The trust, based on a proprietary process developed by The Bank of New York's Depositary Receipt (DR) Division, provides a cost-effective and convenient method to invest in silver. The investment objective of the trust is for the shares to reflect ...