The HGXSM, the latest addition to the 13 existing PHLX sectors index options, is a modified capitalization-weighted index composed of 22 stocks including seven building materials companies, 11 homebuilders, two manufactured housing companies and two mortgage insurance companies. TD Options, L.L.C. is the firm that will act as specialist in this new product.
The HGXSM recognizes the growth in the housing sector amid a broad market decline. During the first six months of the year, the housing sector has risen 14% while the S&P 500 Index has seen a decline of 14%. Up until now, investors have not had a widely disseminated, or tradable, financial product that allowed them to participate in the sectors' movement.
For more information, including contract specifications and component issues, visit the HGXSM Products page.
Time after time, the PHLX has introduced products ahead of investor need, having both recognized untapped market segments and anticipated investor need for quality investment and hedging instruments. The roster of such products is long: the PHLX Oil Service SectorSM (OSXSM), the PHLX Gold/Silver SectorSM (XAUSM), the PHLX Semiconductor SectorSM (SOXSM) and the PHLX/KBW Bank Sector (BKXSM) to name a few.
The Philadelphia Stock Exchange was founded in 1790. The PHLX trades nearly 2,200 stocks, over 1,200 equity options, 14 sectors index options and currency options. For more information about the PHLX and its products, visit www.phlx.com.
