The QQQ is an exchange-traded fund (ETF) that represents an interest in the portfolio of equity securities comprising the NASDAQ 100 Index, but trades like a stock. The NASDAQ 100 Index is comprised of shares in the 100 largest and most actively traded non-financial companies listed on NASDAQ.
Nasdaq Liffe Markets Chief Executive Officer, Tom Ascher, said, "With QQQ daily trading volume in the cash market regularly surpassing 100 million shares, offering futures on the QQQ, which physically settle into the equity security, provides a new vehicle to market participants. That our first ETF futures contract is born from one of our parents, NASDAQ, makes it all the more appropriate. We look forward to launching this new product on Friday."
The NASDAQ Stock Market's John Jacobs, CEO of NASDAQ Financial Products, said, "Securities futures bring an efficient new tool to the market and are a natural extension of the NASDAQ line of market-leading investment vehicles. Futures on the QQQ are the first in a range of products that we look forward to offering with our partners at Nasdaq Liffe."
For more information about QQQ, including risks, fees, and expenses, please see: www.nasdaq-100.com for a prospectus. Please read the prospectus carefully before investing. ALPS Distributors, Inc. is the distributor for the NASDAQ -100 Trust, a unit investment trust.
NQLX is a fully electronic, federally regulated exchange formed as a joint venture between The Nasdaq Stock Market Inc.® and LIFFE (London International Financial Futures and Options Exchange). It will initially list single stock futures on the largest U.S. companies as well as exchange traded fund futures through LIFFE's electronic trading platform, LIFFE CONNECT™. For more information on NQLX, visit: www.nqlx.com
