Philip M. Condit, Chairman and Chief Executive Officer of The Boeing Company-an S&P index component since 1934-rang the opening bell, joined by Hendrik J. Kranenburg, Executive Vice President, Standard & Poor's; and, from CME: Chairman Scott Gordon, President and Chief Executive Officer Jim McNulty, Chairman Emeritus and Senior Policy Advisor Leo Melamed and Special Policy Advisor Jack Sandner.
"We are enormously proud of the investment history that Standard & Poor's and Chicago Mercantile Exchange have made together over the course of the last 20 years," said Rik Kranenburg, Executive Vice President of Standard & Poor's. "Since its introduction 20 years ago, the futures contract on the S&P 500 has been one the most successful securities instruments ever developed, particularly with respect to tradeabilty, liquidity and relevance in the U.S. equity markets. A key ingredient in this success, and a key ingredient in Standard & Poor's index business, is our commitment to developing meaningful indices that lend themselves to the development of investable products."
"This 20th anniversary testifies to the significance of the S&P 500 stock price index as a benchmark of the U.S. equity market and to the truly extraordinary relationship that we have been privileged to enjoy with Standard & Poor's since we first worked together in launching this revolutionary product," said Gordon. "We are honored to be joined by Rik Kranenburg and Phil Condit and as we recognize the success of equity index futures and their significance for U.S. and global business.""Boeing is proud to have been an S&P Index name for more than 60 years and to celebrate the significance of this benchmark index and of stock index futures trading at the Chicago Mercantile Exchange," said Condit. "I am pleased to be here today to help commemorate the 20th anniversary of the CME's S&P 500 futures trading and to be part of the successful history of the S&P 500."
