ICE Changes Name of NYSE FANG+™ Index Futures to Reflect New Contract Size
September 10 2020 - 4:15PM
Business Wire
Contract will be called the MICRO NYSE FANG+™
Index Futures Contract
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 will
change the name of the NYSE FANG+™ Index Futures Contract to
reflect plans to change the contract size, which will lower the
notional value of the contract. The new name will be the MICRO NYSE
FANG+™ Index Futures Contract.
ICE plans to reduce the multiplier for the contract, which
determines the notional value of each futures contract, to $5 times
the index from the current $50, effective September 28, 2020. With
this change, the notional value of each futures contract will be
approximately $25,000, or one tenth the current size. This change
will allow the contract to better match the needs of a wide range
of investors.
MICRO NYSE FANG+™ Index futures are based on the NYSE FANG+™
Index, administered by ICE Data Indices, LLC, 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. The NYSE FANG+™ Index has had a cumulative total return
of over 269% since the start of 2017 and a return of over 100%
since bottoming out in March 2020*.
The NYSE FANG+™ Index is equally weighted and includes the five
core FAANG stocks - Facebook, Apple, Amazon, Netflix and Google
(Alphabet) - plus Tesla and four other actively-traded technology
growth stocks - Alibaba, Baidu, NVIDIA and Twitter. It is
calculated and disseminated through the ICE Data Consolidated Feed
under the symbol “NYFANG.”
For more information about MICRO NYSE FANG+™ Index Futures,
please visit: https://www.theice.com/fangplus.
*Returns as of September 9, 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 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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version on businesswire.com: https://www.businesswire.com/news/home/20200910005935/en/
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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