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ISE will list the Mini FTSE 100, the Micro FTSE 100, the Mini FTSE 250 and the Micro FTSE 250. The FTSE 100 is comprised of the most highly capitalized blue chip companies, representing approximately 80% of the market capitalization in the United Kingdom. The FTSE 250 is comprised of mid-capitalized companies, not covered by the FTSE 100, representing approximately 18% of UK market capitalization.
The Mini FTSE 100 and Mini FTSE 250 represent 1/10th of the full value of the FTSE 100 and FTSE 250, respectively. The Micro FTSE 100 and the Micro FTSE 250 represent 1/100th of the full value FTSE 100 and FTSE 250.
“ISE is pleased to initiate its association with FTSE. The addition of options on the FTSE 100 and the FTSE 250 to ISE's existing portfolio of index products represents the first international indexes to be listed on ISE,” said Bruce D. Goldberg, ISE's Senior Vice President, Marketing.
Mark Makepeace, Chief Executive, FTSE Group said, “FTSE Group is an independent global index provider, which works with leading financial institutions worldwide. Working with ISE is another important step forward in providing a range of products for the US investment community.”
Jerry Moskowitz, Managing Director, FTSE Americas added, “FTSE is committed to offer innovative solutions for investors through key partnerships, and we are delighted that our collaboration with ISE will give the US market more choices by which to integrate FTSE indexes into their investment strategy.”
In 2003, ISE implemented the technological and regulatory foundation to trade index options, a product line in which ISE has recently started to compete. ISE's index options strategy has a number of elements including licensing new index products, creating proprietary indexes and seeking to end the license exclusivity that certain exchanges enjoy with respect to certain indexes. ISE will list options on the FTSE indexes pending SEC approval.
