Intercontinental Exchange, Inc. (NYSE:ICE), a leading global provider of data, technology, and market infrastructure, today announced that a record 27,876 Micro NYSE FANG+™ Index futures traded on January 4, 2022.
“2021 was a remarkable year for the U.S. technology sector and there has been a lot of attention on the FAANG stocks and the NYSE FANG+™ Index, including the recent addition of Microsoft® stock to the index,” said David Goone, Chief Strategy Officer at ICE. “It is great to see that 2022 has started with such strong activity in our MICRO NYSE FANG+™ Index futures, showing the continued importance of these stocks to the investor community.”
MICRO NYSE FANG+™ Index futures are based on ICE’s NYSE FANG+™ Index, an equal-dollar weighted index which provides exposure to 10 highly-traded technology and tech-related companies. The current stock constituents of the index are: Alibaba®, Amazon®, Apple®, Baidu®, Facebook® (Meta Platforms), Google® (Alphabet), Microsoft®, Netflix®, NVIDIA®, and Tesla®. The NYSE FANG+™ Index has consistently outperformed many other indices, producing an annualized gross total return of 31.93% from September 19, 2014 to December 31, 2021*.
To provide greater flexibility, cost efficiency and accessibility for a wider range of participants, ICE reduced the notional value of the MICRO NYSE FANG+™ Index futures contract in September 2020 by one tenth to a notional value of approximately $35,000 and saw steady growth in market participation in the contract throughout 2021.
For more information about MICRO NYSE FANG+™ Index futures, visit https://www.theice.com/fangplus.
*The NYSE FANG+™ Index launched on September 26, 2017. Prior performance (September 19, 2014 to September 25, 2017) is based upon back tested index calculations.
