ISE To Launch New Water Index
January 05 2006 - 10:00AM
Business Wire
The International Securities Exchange (NYSE:ISE) announced today
that it is launching the ISE-B&S Water Index (Ticker: HHO), a
new sector index option and benchmark for this emerging industry
which was developed with Boenning & Scattergood (B&S), one
of the oldest, independently operated securities firms
headquartered in the Mid-Atlantic region. The ISE-B&S Water
Index was developed in response to growing interest in water as a
scarce resource and comprises companies in the water
infrastructure, filtration, distribution, purification and
treatment industries. The index currently contains 20 stocks that
trade in the U.S. market, including such notable domestic industry
participants as Aqua America Inc. (NYSE: WTR), Watts Water
Technologies Inc. (NYSE: WTS), as well as international companies
that trade as Depositary Receipts, such as Companhia de Saneamento
Basico do Estado de Sao Paulo (NYSE: SBS). The index is the basis
for cash-settled index options, which will list and begin trading
today on ISE under the symbol HHO. "ISE is pleased to announce the
new ISE-B&S Water Index which capitalizes on the growing
interest in water as a precious commodity. We have been at the
forefront of developing and launching innovative indices to
anticipate market demand. This continues our record of innovation
in the options market and adds to ISE's portfolio of unique and
proprietary sector index options, which offer investors
sophisticated trading strategies to manage their equity
portfolios," said Bruce D. Goldberg, ISE's Chief Marketing Officer.
Harold Scattergood, Chairman of Boenning & Scattergood, said,
"We are very pleased to join with the International Securities
Exchange in the launch of this exciting new product. Boenning &
Scattergood has a focused research effort and professional staff
dedicated to identifying promising investment opportunities in the
Water industry and businesses that are improving the supply and
quality of water. This new product is certain to provide investors
with the ability to participate in this exciting new industry, as
well as serve as an excellent tool to control risk." ISE's index
methodologies for the sector indexes are rules-based, making the
rules for calculating and maintaining the indexes freely available
to everyone, and thus easily used to test the historic performance
of the indexes. Additional information about these indexes,
including methodology guides, component lists and weightings,
performance metrics and historical data is available on ISE's
website, www.iseoptions.com, on the Products Traded / Index Options
page. ISE Background The International Securities Exchange, the
world's largest equity options exchange, was founded on the
principle that technology fosters and infuses new efficiencies and
operational innovations into securities trading. After developing
an innovative market structure that integrated auction market
principles into an advanced screen-based trading system, ISE
launched the first fully electronic US options exchange in May
2000. ISE continually enhances its trading systems to provide
investors with the best marketplace to execute their options
orders. For more information about ISE, its products and its
technology, visit www.iseoptions.com. Forward Looking Statements
This press release contains "forward looking statements." These
statements relate to future events or our future financial
performance, and involve known and unknown risks, uncertainties and
other factors that may cause our actual results, levels of
activity, performance or achievements, to be materially different
from those contemplated by the forward looking statements. We
undertake no ongoing obligation, other than that imposed by law, to
update these statements. Factors that could affect our results,
levels of activity, performance or achievements and cause them to
materially differ from those contained in the forward looking
statements can be found in our filings with the Securities and
Exchange Commission, including our registration statement on Form
S-1, current reports on Form 8-K and quarterly reports on Form
10-Q, as amended.
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