Thread Alert for Index players:
ICX:
Friday February 5, 1:19 am Eastern Time
Nasdaq-Amex launches e-commerce index
NEW YORK, Feb 4 (Reuters) - The Nasdaq-Amex said it will start calculating an e-commerce index, set up in association with online news provider TheStreet.com, that will track 15 companies that sell goods on the Internet starting Friday.
The Amex said on Thursday that investors will also be able to
trade options on the index starting February 17.
The 15 companies all derive either all or a significant part of
their revenue from online commerce. Among them: bookseller
Amazon.com Inc. (Nasdaq:AMZN - news), brokerage firm Ameritrade Holding Corp. (Nasdaq:AMTD - news), bookseller Barnes & Noble Inc. (NYSE:BKS - news), and software producer BroadVision Inc. (Nasdaq:BVSN - news).
Also included will be musicseller CDnow Inc. (Nasdaq:CDNW - news), broker E*Trade Group Inc.(Nasdaq:EGRP - news), auctioneer eBay Inc. (Nasdaq:EBAY - news), computer-products seller Egghead.com Inc. (Nasdaq:EGGS - news), and Hollywood Entertainment Corp.(Nasdaq:HLYW - news). Microsoft co-founder Paul Allen holds interests in Hollywood Entertainment, which operates Internet movie seller Reel.com.
Others are Micro Warehouse Inc. (Nasdaq:MWHS - news), which sells microcomputer software and related accessories, music retailer N2K Inc. (Nasdaq:NTKI - news), grocer Peapod Inc. (Nasdaq:PPOD - news), and Preview Travel Inc. (Nasdaq:PTVL - news). Retailer ONSALE Inc (Nasdaq:ONSL - news) and National Media Corp. (NYSE:NM - news) will also be in the index. National Media is the only of the 15 companies that is not traded on the Nasdaq. It trades on the New York Stock Exchange.
The index will trade under the symbol ''ICX'' (^ICX - news).
The index will use ''equal-dollar weighting'' so each security is represented in about equal dollar value. The index will be updated quarterly.
The options will have ''European style'' expiration and cash settlement, meaning options may be exercised on the last business day prior to expiration.
The specialist unit for the new index options will be Susquehanna Investment Group.
|
