Certain Commodity ProShares Affected by Shift to Daylight Saving Time on 3/8/2009

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March 22, 2009 9:43pm NYSE:GLD


Since daylight saving time is effective on different dates in London and New York, we need to temporarily change NAV calculation times and cutoff times for Authorized Participants (AP) to create/redeem shares for ProShares ETFs tied to three benchmarks: Silver, Gold, and the Dow Jones-AIG Commodity IndexSM.1

From March 8 through March 28, 2009, most NAV calculation times and AP cutoff times will move forward one hour. On March 29, 2009 when London also “springs” forward one hour our standard times will resume.

 ProShares ETF Ticker Symbol AP Create/Redeem Cutoff Time NAV Calculation Time
Standard 3/8–3/28/2009 Standard 3/8–3/28/2009
Ultra Silver
6:00 a.m. ET 7:00 a.m. ET 7:00 a.m. ET 8:00 a.m. ET
UltraShort Silver
Ultra Gold
9:00 a.m. ET 10:00 a.m. ET 10:00 a.m. ET 11:00 a.m. ET
UltraShort Gold
Ultra DJ-AIG Commodity
10:45 a.m. ET 11:45 a.m. ET 2:30 p.m. ET 2:30 p.m. ET
UltraShort DJ-AIG Commodity

NOTE: There will be another adjustment on October 25, 2009,  when London “falls back” to standard time one week before New York changes on November 1, 2009. For that one week, times will again shift one hour later than our standard times. A chart with the specific times will be posted in October.

1 Silver and Gold ETFs are based on pricing set in London. The DJ-AIG Commodity Index includes items traded on the London Metals Exchange (Aluminum, Nickel, Zinc).

Source: proshares.com

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