IntercontinentalExchange Announces Launch of Russell 2000 Growth and Value
NEW YORK, April 17, 2013
NEW YORK, April 17, 2013 /PRNewswire/ -- IntercontinentalExchange (NYSE: ICE),
a leading operator of global markets and clearing houses, announced today it
will introduce two new Russell Index futures contracts. The contracts will be
based on the Russell 2000® Growth and Russell 2000® Value Indexes and will
begin trading on April 22, 2013, subject to regulatory review.
"These contracts provide additional tools for institutional customers,
including equitizing cash balances, hedging style exposures and implementing
overlay strategies," said Patrick Fay, director of listed derivatives at
Russell Indexes. "We are extremely pleased that the ICE is expanding its
offering of Russell Index-based futures contracts."
"The Growth and Value style indexes offer an expanded range of futures
products tied to the Russell 2000®, the widely recognized U.S. small cap
equity benchmark," said ICE SVP and Chief Strategic Officer David Goone. "We
are listing these contracts based on feedback from our institutional customers
and believe they will be viable complements to their index trading programs."
Additionally, beginning on trade date April 22, all of ICE's Russell contracts
will be eligible for Trade at the Index Close (TIC) trading. The TIC order
type allows market participants to place bids or offers during the course of
the day at a price differential to the closing price of the underlying stock
index. TIC Trading FAQ
Russell Indexes is a pioneer and leader in global indexes and is the
index-of-choice for professional investors, with 99% of all small cap U.S.
institutional assets benchmarked to Russell Indexes. Nine of the top ten
institutional benchmarks for the U.S. market are Russell Indexes and more than
97% of U.S. institutional "style" assets are linked to the Russell Indexes.
Approximately $3.9 trillion in assets are benchmarked to the Russell Indexes.
The contracts will be listed by ICE Futures U.S. and cleared at ICE Clear U.S.
ICE Futures U.S. is the exclusive trading venue for futures and futures
options based on Russell U.S. equity indexes. More Info
IntercontinentalExchange (NYSE: ICE) is a leading operator of regulated
exchanges and clearing houses serving the risk management needs of global
markets for agricultural, credit, currency, emissions, energy and equity index
products. ICE serves customers in more than 70 countries. www.theice.com
The following are trademarks of IntercontinentalExchange, Inc. and/or its
affiliated companies: IntercontinentalExchange, ICE, ICE and block design, ICE
Futures Europe, ICE Clear Europe, ICE Clear Canada, ICE Clear US, ICE Clear
Credit, ICE Futures U.S., and ICE OTC. All other trademarks are the property
of their respective owners. For more information regarding registered
trademarks owned by IntercontinentalExchange, Inc. and/or its affiliated
companies, see https://www.theice.com/terms.jhtml
Safe Harbor Statement under the Private Securities Litigation Reform Act of
1995 - Statements in this press release regarding IntercontinentalExchange'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, 2012, as
filed with the SEC on February 6, 2013.
Russell Investments is a Washington, USA Corporation, which operates through
subsidiaries worldwide and is a subsidiary of The Northwestern Mutual Life
Insurance Company. Russell Investments is the owner of the trademarks,
service marks and copyrights related to the Russell Indexes. Indexes are
unmanaged and cannot be invested in directly. "Russell 2000" "Russell 2000
Growth" and "Russell 2000 Value" are trademarks and service marks of Russell
Investments used under license.
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770 857 2532, Melanie.firstname.lastname@example.org
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