MB
I received this via email earlier today. CNBS covered it a few minutes ago. I thought I would share it with the thread.
From: kcbt@kcbt.com (kcbt@kcbt.com)
Subject: news release
KCBT gets approval for new contract based on internet.com's ISDEX Internet
stock index;
trading to start June 1
Kansas City-March 25, 1999-The Kansas City Board of Trade has received
government approval to trade futures and futures options based on the ISDEX
index of Internet stocks.
ISDEX, The Internet Stock Index created by internet.com LLC, is the leading
and the oldest Internet stock index in the marketplace. The ISDEX contains
50 stocks representative of the diversity of publicly traded U.S. companies
that derive revenue primarily from the Internet, including stocks from the
software, hardware, content, commerce and communications/access sectors.
The KCBT filed to trade ISDEX futures and futures options in mid-December,
and now has received approval from the Commodity Futures Trading
Commission. Trading will begin June 1, 1999.
Using ISDEX contracts, investors will have the ability to hedge against
risk in the Internet stock sector or to speculate on its future.
"The increasing economic importance of the Internet, combined with the
sector's stock volatility and corresponding need for risk management, makes
ISDEX contracts a compelling financial instrument," said Michael Braude,
KCBT president. "KCBT ISDEX contracts will bring the risk transfer, price
discovery and financial strength of the futures industry to the Internet."
The Kansas City Board of Trade enters into the ISDEX contracts with a
strong background in stock index futures, having pioneered the very concept
worldwide with the launch of Value Line and Mini Value Line futures in 1982
and 1983, respectively. The KCBT's licensor in the venture, internet.com
LLC, has extensive expertise in the Internet arena. The internet.com
network includes 47 award-winning websites, 27 e-mail newsletters, more
than 19 online forums and 43 moderated e-mail discussion lists for Internet
industry and Internet technology professionals, Web developers and
sophisticated Internet users.
"Internet investors now have the opportunity to trade the most popular
Internet index," said Alan M. Meckler, chairman and chief executive officer
of internet.com LLC. "We are excited about our future relationship with the
Kansas City Board of Trade."
For more information on KCBT ISDEX futures and futures options, please
visit the KCBT's website at www.kcbt.com, and internet.com LLC's website at
www.isdex.com.
# # #
Shelia A. Summers
Assistant Vice President - Marketing
Regards
GB
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