Bank of America Merrill Lynch Announces 2013 Composition and Weights for the Merrill Lynch Commodity Index eXtra(SM)

Fri Dec 21, 2012 10:00am EST

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LONDON--(Business Wire)--
Bank of America Merrill Lynch today announced the 2013 composition and weights
for the Merrill Lynch Commodity index eXtraSM (MLCX). The MLCX is designed to
provide a liquid, consistent, representative and cost-efficient benchmark for
commodity market performance and for investment in commodities as an asset
class. The MLCX contains the following six market sectors: Energy, Base Metals,
Precious Metals, Grains & Oil Seeds, Livestock, and Soft Commodities & Others. 

Bank of America Merrill Lynch constructs the MLCX based on the liquidity of the
constituent futures contracts and the value of the global production of each
underlying commodity. The MLCX also seeks to avoid redundant contracts and
includes only the most liquid contract per commodity which is determined by
volume and price. Based on these rules, the MLCX will include Brent crude oil
and remove WTI crude oil for 2013. No other commodities have been added or
removed. The commodity weights, which are determined by the Bank of America
Merrill Lynch Commodities group pursuant to the MLCX Handbook, are listed

 Commodity                2012                  2013                       Change          
 Brent                    0.00%                 34.19%                     34.19%          
 Gasoil                   12.61%                12.38%                     (0.23)%         
 Gasoline (RBOB)          12.19%                11.83%                     (0.36)%         
 Corn                     5.57%                 6.15%                      0.57%           
 Wheat                    5.86%                 5.37%                      (0.49)%         
 Copper                   5.28%                 5.10%                      (0.17)%         
 Gold                     3.50%                 4.39%                      0.89%           
 Soybean                  2.99%                 3.34%                      0.35%           
 Aluminium                3.05%                 2.87%                      (0.18)%         
 Sugar                    2.95%                 2.81%                      (0.15)%         
 Live Cattle              1.96%                 1.99%                      0.03%           
 Cotton                   2.45%                 1.65%                      (0.80)%         
 Natural Gas              2.58%                 1.60%                      (0.98)%         
 Soybean Oil              1.42%                 1.51%                      0.09%           
 Coffee                   1.28%                 1.29%                      0.01%           
 Lean Hogs                1.04%                 1.01%                      (0.03)%         
 Nickel                   1.13%                 0.92%                      (0.21)%         
 Zinc                     0.87%                 0.81%                      (0.06)%         
 Silver                   0.66%                 0.79%                      0.13%           
 Crude Oil (WTI)          32.63%                0.00%                      (32.63)%        
 Sector                   2012                  2013 Target                Change          
 Energy                   60.00%                60.00%                     0.00%           
 Grains                   15.85%                16.37%                     0.53%           
 Base metals              10.32%                9.70%                      (0.61)%         
 Softs                    6.67%                 5.74%                      (0.93)%         
 Precious metals          4.16%                 5.18%                      1.02%           
 Livestock                3.00%                 3.00%                      0.00%           

Calculations by BofA Merrill Lynch Global Commodity Research Group; due to
rounding, the change may not be equal to the difference between the figures

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