The Philadelphia Stock Exchange announced today that it will offer cash-settled options on the NASDAQ-100 Index®. Launched in January 1985, the NASDAQ-100 Index® represents the largest and most active non-financial domestic and international issues listed on The NASDAQ Stock Market® based on market capitalization. The index is calculated under a modified capitalization-weighted methodology. The methodology is expected to retain in general the economic attributes of capitalization-weighting while providing enhanced diversification.
Timber Hill LLC will be the specialist in both the full value options (NDX) and reduced-value options (MNX).
"NASDAQ-100® options deliver new broad-based index trading opportunities against options on bellwether PHLX sector indexes," said Daniel R. Carrigan, PHLX’s vice president of new product development. “Both full value options (NDX) and reduced-value options (MNX) will be offered to fit the needs of institutional and retail investors,” added Carrigan.
About the PHLX
The Philadelphia Stock Exchange was founded in 1790. The PHLX trades more than 7,000 stocks, 2,600 equity options, 17 sectors index options, options on all major currencies, and futures through its subsidiary, The Philadelphia Board of Trade (PBOT). For more information about the PHLX and its products, visit www.phlx.com.
About NASDAQ OMX Global Financial Products
NASDAQ OMX Global Financial Products (NOGFP) is engaged in the design, development, calculation, licensing, and marketing of NASDAQ OMX indexes. NOGFP specializes in the development of indexes focusing on NASDAQ OMX’s brand themes of innovation, technology, growth, and globalization. NOGFP also provides custom index services and design solutions as a third-party provider to selected financial organizations. For more information about NASDAQ OMX indexes, visit www.nasdaq.com/indexes.
About NASDAQ OMX
The NASDAQ OMX Group, Inc. is the world's broadest and most diverse exchange company. It delivers trading, exchange technology, and public company services across six continents, and with over 3,900 companies, it is number one in worldwide listings among major markets. NASDAQ OMX offers multiple capital raising solutions to companies around the globe, including its U.S. listings market; the OMX Nordic Exchange, including First North; and the 144A PORTAL Market. The company offers trading across multiple asset classes including equities, derivatives, debt, commodities, structured products, and ETFs. NASDAQ OMX technology supports the operations of over 60 exchanges, clearing organizations and central securities depositories in more than 50 countries. OMX Nordic Exchange is not a legal entity but describes the common offering from Nasdaq OMX exchanges in Helsinki, Copenhagen, Stockholm, Iceland, Tallinn, Riga, and Vilnius. For more information about NASDAQ OMX, visit www.nasdaqomx.com.