The Philadelphia Stock Exchange (PHLX) announced today that it would begin trading broad-based index options on the Russell family of benchmark stock indexes. The first products to begin trading on Tuesday, February 20 will be cash settled options on the Russell 2000® (RUT) and Russell reduced value 2000® (RMN).
“PHLX is positioned to grow Russell broad-based index options as an investment and trading tool for retail and institutional accounts,” said PHLX vice president of new products, Daniel Carrigan. “Broad-based index options represent another product class offered on PHLX XL, the Exchange’s electronic trading platform, that may be traded against ETF and single equity options,” Carrigan said.
Citadel Derivatives Group, LLC will act as the specialist.
Russell Founder and Strategic Director Kelly Haughton says: "We are pleased to work with the Philadelphia Stock Exchange and offer individuals trading on the Exchange the opportunity to utilize these options products as part of their trading strategies."
ABOUT THE PHLX:
The Philadelphia Stock Exchange was founded in 1790. The PHLX trades more than 7,000 stocks, 2,308 equity options, 16 sectors index options and currency options. For more information about the PHLX and its products, visit www.phlx.com.
ABOUT RUSSELL:
Russell Investment Group, a global leader in multi-manager investment services, provides investment products and services in more than 35 countries. Russell manages more than $114 billion in assets and advises clients worldwide representing more than $1.8 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.
Russell Investment Group is a registered trade name of Frank Russell Company, a Washington, USA corporation, which operates through subsidiaries worldwide. Frank Russell Company is a subsidiary of The Northwestern Mutual Life Insurance Company.
