The FTSE techMARK 100 index is designed to allow investors to track medium and small technology companies. It excludes the largest stocks of the techMARK All-Share Index such as Vodafone, Glaxo Wellcome, SmithKline Beecham, BT and AstraZeneca. The futures contract will therefore provide investors with the opportunity to gain exposure to the 'hi-tech stars' of tomorrow in a single transaction. This new index product has been added to the Exchange's existing suite of FTSE and MSCI index products as a result of demand from its customers for an innovative, technology-based futures product with which to hedge and trade exposure to the volatile underlying market.
The FTSE techMARK 100 Index Future will be launched and traded on LIFFE CONNECT™, the world's most advanced electronic derivatives trading system.
Commenting on the new listing, Hugh Freedberg, Chief Executive at LIFFE said: "The launch of the new techMARK 100 Index future is in response to our customers' demand for a product that reflects both the interest and volatility that exists in technology stocks at the moment. This builds on the success of LIFFE's technology-based equity options, and provides our customers with even greater choice."
Mark Makepeace, FTSE's Managing Director added: "The FTSE 100 tells you how the UK market is performing. The FTSE techMARK 100 tells you what is happening to technology stocks. Now you can trade them both - side by side - on LIFFE CONNECT™."
