Contract size for the Russell 1000 Value and Russell 1000 Growth will be $500 x Index with a minimum price fluctuation of $.05. The minimum tick value is $25.00 and the contracts are cash-settled.
Russell 1000 (Symbol R) futures and options contracts currently trade on NYBOT's NYFE.
The addition of the Russell "style" indexes opens new investment avenues for professional money managers who benchmark to the highly regarded Russell family of Indexes. Created in 1984, Russell's family of 21 U.S. indexes provide investors with objective measurements of the U.S. equities market, and are specifically designed and formulated for the professional money management industry.
NYBOT announced April 17, 2003, that it had entered into an agreement with Frank Russell Company, global leaders in multi-manager investing and owners of the Russell indexes, that allows for the right to trade futures and options contracts based on 21 Russell U.S. equity indexes. The Russell product suite at the NYBOT will feature a Value and a Growth companion component for seven Russell U.S. equity indexes.
Frank Russell Company, a global leader in multi-manager investment services, provides investment products and services in more than 35 countries. Russell manages $67 billion in assets and advises clients worldwide representing $1.6 trillion. Founded in 1936, Russell is a subsidiary of Northwestern Mutual and is headquartered in Tacoma, Wash., with additional offices in New York, Toronto, London, Paris, Singapore, Sydney, Auckland and Tokyo. For more information, go to www.russell.com.
The New York Board of Trade (NYBOT) is the parent company of the Coffee, Sugar and Cocoa Exchange, Inc. (CSCE) and the New York Cotton Exchange (NYCE). Through its two exchanges and their subsidiaries and divisions, NYBOT offers an expanding range of agricultural, currency and index products. Information about the New York Board of Trade can be found at www.nybot.com and www.nybotlive.com.
