ISE Launches New FTSE 250 Index Options; Innovative `Mini' Structure Simplifies Trading
May 25 2006 - 8:03AM
Business Wire
The International Securities Exchange (NYSE: ISE) announced today
that on May 23, 2006, it launched index options trading on the FTSE
250 (Ticker: FTZ) through an innovative "Mini" contract structure
whereby the Mini FTSE 250 Index represents 1/10th of the full value
of the full-size FTSE 250 Index. The FTSE 250 Index is a
capitalization-weighted index of the most highly capitalized
companies listed on the London Stock Exchange outside the FTSE 100.
Constituents are selected quarterly as the 101st to 350th largest
companies listed on the exchange. This product was developed with
FTSE Group, the award-winning index provider. Timber Hill LLC
serves as the Primary Market Maker. This is the first time that
FTSE 250 options have traded electronically in the U.S., and
follows on ISE's introduction on May 5, 2006 of the "Mini"
contracts on the FTSE 100 index. These will be cash-settled index
options. "ISE is delighted to introduce the new electronically
traded "Mini" index options on the FTSE 250," said Bruce D.
Goldberg, ISE's Chief Marketing Officer. "With the increased demand
for global diversification and risk management trading strategies
by both retail and institutional investors alike, we believe this
product provides an innovative investment and trading strategy that
is both affordable and easy to use." Mark Makepeace, Chief
Executive of FTSE Group, commented, "In addition to the recently
launched FTSE 100 Mini-contracts, U.S. investors now have another
domestic opportunity to invest in the FTSE 250, the definitive
mid-cap measure of the UK market." Additional information about
this product, 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
(ISE) is an innovative securities market, founded on the principle
that technology and competition create better, more efficient
markets for investors. ISE is the largest equity options exchange
and is among the leading options exchanges in the world. ISE
developed a unique market structure for advanced screen-based
trading systems and in May 2000 launched the first fully electronic
US options exchange. The ISE Stock Exchange LLC will launch in the
third quarter of 2006 with strategic partners, offering an
innovative MidPoint Match platform, followed by a fully integrated
displayed Best Bid Offer (BBO) market in the fourth quarter. ISE is
also a majority owner of Longitude LLC, an innovative platform for
events markets trading, and offers enhanced market data products
for sophisticated investors. ISE continually enhances its trading
systems and develops new products, including index options and
market data, to provide investors with the best marketplace and
investment tools to trade smarter. For more information about ISE,
its options products and its technology, visit www.iseoptions.com
and for more information about the ISE Stock Exchange LLC, visit
www.isestock.com.
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