ATLANTA & NEW YORK--(BUSINESS WIRE)--Intercontinental Exchange (NYSE:ICE), a leading operator of global exchanges and clearing houses and provider of data and listings services, launched the NYSE FANG+™ Index futures contract on ICE Futures U.S.(R) on November 8, 2017. The new contract had over 2,000 contracts trade in the first week.
NYSE FANG+ Index futures were designed to offer hedging and exposure to a select group of highly-traded growth stocks of tech-enabled companies. The NYSE FANG+ Index contract is a cash settled quarterly futures contract based on the NYSE FANG+ Index, and offers the capital efficiency of futures.
“We’re pleased with the initial interest we’ve seen in this contract and are excited to be bringing more participation into the futures market,” said Trabue Bland, President of ICE Futures U.S. “This contract offers a cost-effective means of gaining or reducing exposure to a key basket of technology companies, and, by leveraging our product development, index solutions and global feeds, complements our equity index futures complex, and offers an innovative way to manage exposure to the equity markets.”
The NYSE FANG+ Index is equally weighted and includes the five core FANG 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 Global Index Feed under the symbol “NYFANG.”
Based on back-tested performance data, the combination of stocks in the NYSE FANG+ Index have returned a 29.1% annualized total return from September 19, 2014 to November 14, 2017, as compared to 15.9% for the NASDAQ-100®, 10.5% for the S&P 500® and 19.1% for the S&P 500® Information Technology Index. More information on the NYSE FANG+ Index’s performance, data and tradeable futures contract can be found at theice.com/fangplus.
ICE is offering several new incentive programs including a rebate program for ICE Clear US(R) Clearing Members. This program provides a viable coordination opportunity for brokers and their respective clearing firms. Please contact equities@theice.com for more information.
About Intercontinental Exchange
Intercontinental Exchange (NYSE:ICE) is a Fortune 500 company that operates a leading network of global futures, equity and equity options exchanges, as well as global clearing and data services across financial and commodity markets. The New York Stock Exchange is the world leader in capital raising, listings and equities trading.
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 www.intercontinentalexchange.com/terms-of-use.
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, 2016, as filed with the SEC on February 7, 2017.
Disclaimer
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.
SOURCE: Intercontinental Exchange
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