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Futures contracts on the full-size Russell 1000 Index and the mini-size Russell 2000 Index will trade electronically at CFE, via CBOEdirect, the exchange's screen-based trading system. The two Russell indexes join three other products currently trading at CFE: futures on the CBOE Volatility Index (VIX), the CBOE S&P 500 Three-Month Variance futures and futures on the CBOE China Index. The selection process for the Designated Primary Market Maker (DPM) for both the Russell 1000 and Russell 2000 Index futures is underway and is expected to be announced soon.
The Russell 1000® Indexes are designed to measure the performance of the top 1,000 companies from a universe of the 3,000 largest stocks in the U.S. The Russell 2000® Index is designed to measure the performance of the bottom 2,000 companies from a universe of the 3,000 largest stocks in the U.S.
"CFE continues to gain traction in the marketplace, evidenced by our increasing number of market participants, expanding product set, and open interest that now stands at over 10,000 contracts," said Patrick Fay, Managing Director, CBOE Futures Exchange. "We are excited to offer futures on Russell indexes and expect to introduce additional new investment vehicles in 2005, many of which will be unique product offerings currently unavailable in the futures industry."
"We are proud that the world's newest futures exchange has decided to list products based on Russell's benchmark US stock indexes," said Kelly Haughton, strategic director for Russell indexes. "Trading index futures products via the CFE's all-electronic platform is a winning combination that ensures increased exposure and further growth in liquidity and volume among these products."
The newly formed CFE is a wholly-owned subsidiary of Chicago Board Options Exchange, Incorporated, offering an all-electronic, open access market model, with traders providing liquidity and making markets. CFE trades are cleared by the triple-A rated Options Clearing Corporation (OCC). The newest futures exchange in the world, CBOE Futures Exchange is regulated by the Commodity Futures Trading Commission (CFTC). More information on CFE and its products, including contract specifications, can be found at: http://www.cboe.com/CFE
CBOE, the world's largest options marketplace and the creator of listed options, is regulated by the Securities and Exchange Commission (SEC). For additional information about the CBOE and its products, visit the CBOE website at: http://www.cboe.com/.
Russell Investment Group, a global leader in multi-manager investment services, provides investment products and services in more than 35 countries. Russell manages more than $114 billion in assets and advises clients worldwide representing more than $1.8 trillion. Founded in 1936, Russell is a subsidiary of Northwestern Mutual and is headquartered in Tacoma, Wash., with additional offices in New York, Toronto, London, Paris, Singapore, Sydney, Auckland and Tokyo. Additional details on Russell's indexes are available at: http://www.russell.com/US/Indexes/US/
