On June 12, 2008, Claymore Securities and The Bank of New York Mellon pioneered the only U.S.-listed frontier market ETF, known as Claymore/BNY Mellon Frontier Markets ETF (FRN). Two weeks after the launch of FRN, Claymore has announced a change to the underlying index meant to rebalance the markets. As a result of the change, The BNY Mellon New Frontier DR Index has added three more country markets to the mix, according to the Business Wire press release. The countries that have been added include Kuwait, Estonia, and Ukraine, which now brings the market exposure to 17 countries. According to Business Wire, the countries that now make up FRN are as follows: Bahrain, Chile, Columbia, Czech Republic, Egypt, Estonia, Georgia, Kazakhstan, Kuwait, Lebanon, Nigeria, Oman, Pakistan, Peru, Poland, Ukraine and United Arab Emirate. Christian Magoon, President of Claymore and Head of its ETF Group, states, "With its expanded 17 country-composition, FRN continues to provide frontier investors with access to this intriguing growth opportunity.