The NDX represents the 100 largest domestic and international non-financial companies listed on the Nasdaq Stock Market based on market capitalization. The MNX is based on 1/10th the value of the NDX.
ISE's listing of the NDX and MNX will mark the first time that options on these important barometers of the Nasdaq stock market are available on an all-electronic exchange.
“ISE is committed to bringing the same efficiencies to index options that it has to equity options. The NDX and MNX are an important addition to ISE's index options portfolio,” said Bruce D. Goldberg, ISE's Senior Vice President, Marketing.
"We are delighted that these index options will be listed on the ISE," said John Jacobs, CEO of NASDAQ Financial Products Services, Inc. "Investors will benefit from the electronic trading of these options, which are based on two of the world's most closely-watched barometers of market activity."
ISE expects to initiate trading in the NDX and MNX indexes in February 2005, pending Securities and Exchange Commission (SEC) approval. Subject to filing with the SEC, ISE also plans to charge customer, market maker, and firm orders the standard equity options execution and comparison fees currently charged for market maker and firm orders.
