ICE Enhances NYSE FANG+™ Index Futures
August 18 2020 - 8:30AM
Business Wire
Reduces notional value of the contract to one
tenth of the current size
Intercontinental Exchange (NYSE: ICE), a leading operator of
global exchanges and clearing houses and provider of mortgage
technology, data and listing services, today announced it plans to
enhance the NYSE FANG+™ Index futures by reducing the contract size
to better match the needs of a wide range of investors.
The contract multiplier, which determines the notional value of
the contract, is expected to be reduced to $5 times the index from
the current $50, effective September 28, 2020, subject to
regulatory approval. With this change, the notional value of each
futures contract will be approximately $24,000, or one tenth the
current size.
“The NYSE FANG+™ Index has a proven track record of delivering
above-average returns and enabling investors to take positions and
manage risk in some of the best known and most actively traded
technology stocks,” said Trabue Bland, President of ICE Futures
U.S. “By significantly reducing the size of the contract, we’re
making it far more accessible to both retail and institutional
investors.”
NYSE FANG+™ Index futures are based on the NYSE FANG+™ Index,
and are designed to offer hedging, exposure and the capital
efficiency of futures to a select group of highly traded growth
stocks of tech-enabled companies. With a cumulative total return of
nearly 250% since the start of 2017 and a return of over 90% since
bottoming out in March 2020*, the NYSE FANG+™ Index has
consistently outpaced several other peer indices.
The NYSE FANG+™ Index is equally weighted and includes the five
core FAANG stocks - Facebook, Apple, Amazon, Netflix and Google
(Alphabet) - plus another five actively-traded technology growth
stocks - Alibaba, Baidu, NVIDIA, Tesla and Twitter. It is
calculated and disseminated through the ICE Data Consolidated Feed
under the symbol “NYFANG.”
For more information about NYSE FANG+™ Index Futures, please
visit: https://www.theice.com/fangplus.
* Returns as of August 14, 2020. The NYSE FANG+™ Index launched
on 09/26/2017. Prior performance (09/19/2014 to 09/25/2017) is
based upon backtested index calculations.
About Intercontinental Exchange
Intercontinental Exchange (NYSE: ICE) is a Fortune 500 company
formed in the year 2000 to modernize markets. ICE serves customers
by operating the exchanges, clearing houses and information
services they rely upon to invest, trade and manage risk across
global financial and commodity markets. A leader in market data,
ICE Data Services serves the information and connectivity needs
across virtually all asset classes. As the parent company of the
New York Stock Exchange, the company is the premier venue for
raising capital in the world, driving economic growth and
transforming markets.
Trademarks of ICE and/or its affiliates include Intercontinental
Exchange, ICE, ICE block design, NYSE and New York Stock Exchange.
Information regarding additional trademarks and intellectual
property rights of Intercontinental Exchange, Inc. and/or its
affiliates is located at
http://www.intercontinentalexchange.com/terms-of-use. Key
Information Documents for certain products covered by the EU
Packaged Retail and Insurance-based Investment Products Regulation
can be accessed on the relevant exchange website under the heading
“Key Information Documents (KIDS).”
Apple® is a registered trademark of Apple, Inc. Facebook® is a
registered trademark of Facebook, Inc. Amazon® is a registered
trademark of Amazon Technologies, Inc. Netflix® is a registered
trademark of Netflix, Inc. Google® is a registered trademark of
Google, Inc. Alibaba® is a registered trademark of Alibaba Group
Holding Limited. Baidu® is a registered trademark of Baidu.com,
Inc. Nvidia® is a registered trademark of Nvidia Corporation.
Tesla® is a registered trademark of Tesla, Inc. Twitter® is a
registered trademark of Twitter, Inc. S&P 500® is a registered
trademark of Standard & Poor's Financial Services LLC.
NASDAQ-100® is a registered trademark of NASDAQ, INC.
None of the foregoing entities are affiliated with, endorsed by,
or sponsored by Intercontinental Exchange, Inc., or any of its
subsidiaries or affiliates, and the inclusion of the entities on
our web site does not evidence a relationship with those entities
in connection with the Index, nor does it constitute an endorsement
by those entities of the Index or NYSE.
NYSE FANG+™ Index is a trademark of ICE Data Indices, LLC or its
affiliates ("ICE Data") and has been licensed for use in connection
with the NYSE FANG+™ Index Futures. The NYSE FANG+™ Index Futures
is not sponsored, endorsed, sold or promoted by ICE Data Indices,
LLC. ICE Data makes no representations or warranties (i) regarding
the advisability of investing in securities or futures contracts,
or (ii) that any such investment based upon the performance of the
NYSE FANG+™ Index particularly, or the ability of the NYSE FANG+
Index will track general stock market performance.
Safe Harbor Statement under the Private Securities Litigation
Reform Act of 1995 -- Statements in this press release regarding
ICE’s business that are not historical facts are "forward-looking
statements" that involve risks and uncertainties. For a discussion
of additional risks and uncertainties, which could cause actual
results to differ from those contained in the forward-looking
statements, see ICE's Securities and Exchange Commission (SEC)
filings, including, but not limited to, the risk factors in ICE's
Annual Report on Form 10-K for the year ended December 31, 2019, as
filed with the SEC on February 6, 2020.
ICE-CORP
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ICE Media Contact: Damon Leavell Damon.Leavell@theice.com
212-323-8587 ICE Investor Contact: Warren Gardiner
Warren.Gardiner@theice.com 770-835-0114
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