NEW YORK - Katten Muchin Rosenman LLP is pleased to have served as legal counsel to FocusShares in the recent launch of four new exchange traded funds (ETFs) on the NYSE Arca. The ETFs, which track the performance of indexes developed by the International Securities Exchange (ISE), are desgned to monitor the most highly capitalized publicly traded companies in specific industry sectors. They are the first products to be listed by FocusShares for trading.

The FocusShares ETFs include:

• FocusShares ISE Homebuilders Index Fund, which tracks the performance of the ISE Homebuilders Index, measuring stocks of residential construction companies and prefabricated house manufacturers.
• FocusShares ISE SINdex Fund, which tracks the performance of the ISE SINdex, measuring the broad based equity market performance in operators of casinos and gaming facilities, producers of beer and malt liquors, distillers, vintners and producers of other alcoholic beverages, and manufacturers of cigarettes and other tobacco products.
• FocusShares ISE-CCM Homeland Security Index Fund, which tracks the ISE-CCM Homeland Security Index, measuring the performance of companies primarily engaged in the business of contractual work with the department of Homeland Security, law enforcement agencies, or providing products or services for the following efforts: intelligence and warning; border and transportation security; domestic counterterrorism; protection of critical infrastructure; defense against catastrophic threats; and emergency preparedness and response.
• FocusShares ISE-REVERE Wal-Mart Supplier Index Fund, which tracks the performance of the ISE-Revere Wal-Mart Supplier Index, made up of stocks of companies that derive a substantial portion of revenue from Wal-Mart Stores Inc.

“We are pleased to have assisted FocusShares in the launch of these four ETFs, which enable investors to more efficiently target their own investment objectives,” said Kathleen H. Moriarty, lead counsel for FocusShares and a New York-based partner in Katten’s Financial Services Practice. Other members of Katten’s legal team included partner Peter J. Shea, and associate Gregory E. Xethalis.

Katten’s efforts on behalf of FocusShares involved working closely with the Securities and Exchange Commission (SEC) and NYSE Arca, as well as the FocusShares Trust's advisor, sub-advisor, distributor, accountants, auditors, administrators, custodians, transfer agents and compliance personnel. Among other responsibilities, the Firm applied for, negotiated and obtained formal regulatory relief from the SEC under various U.S. securities laws that allowed the funds to function as ETFs and not as traditional mutual funds; registered the Trust and the shares of the ETFs for sale to the public with the SEC under the Securities Act of 1933 and the Investment Company Act of 1940; completed the listing application process for the ETFs' shares to trade on NYSE Arca; and organized the Trust and the ETFs, including advising the Trust's board of trustees, negotiating service provider contracts and constructing the Trust's formal compliance regime necessary to function within the requirements of federal securities laws.

Katten’s Financial Services Practice represents a large number of the world’s premier hedge funds and money managers, major investment and commercial banks, leading firms and insurance companies, and several international exchanges. The Firm’s more than 60 financial services attorneys regularly address the latest innovations in financial products and business strategy and the latest changes in the regulatory environment. This depth of experience with both institutional users of the markets and financial intermediaries allows the Firm’s financial services attorneys to provide creative ideas while being responsive to the practical and economic needs of their clients.