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To: TFF who wrote (10534)	9/23/2002 2:52:22 PM
From: TFF	Respond to of 12617

September 23:CME Launches S&P Tech And Finance SPCTR Indexes Trading will begin in S&P Technology and Financial SPCTR futures today, at 8:30am (Central time) on the GLOBEX electronic trading platform of Chicago Mercantile Exchange (CME). In addition, the listing of 13-week Treasury bills and one-month LIBOR contracts on GLOBEX during regular trading hours will enable customers to trade those interest rate products side-by-side electronically or via open outcry beginning today at 7:20am. The SPCTR futures will be the first S&P 500 sector indexes to trade on a futures exchange. The indexes are subsets of the benchmark S&P 500 Stock Price Index, which has traded on CME since 1982. The new contracts are structured to enable customers to manage the risk of particular sectors in their overall market exposure or increase their exposure to individual sectors. CME also has announced that it will begin trading Energy SPCTR pending regulatory approval. Each SPCTR contract is sized at $125 times the respective index price. The indexes are capitalization-weighted, with Technology representing 88 companies classified as part of either the Information Technology or Telecommunication Services sectors of the S&P 500, while the Financial Sector Index is composed of 81 equities as of August 31. The 10 sector indexes of the S&P 500 include Consumer Discretionary, Consumer Staples, Energy, Financials, Health Care, Industrials, Information Technology, Materials, Telecommunication Services and Utilities. CME will name additional sectors for trading in the future. Regular trading hours for S&P SPCTR futures on GLOBEX will be from 3:45pm Monday through Thursday ( 5:30pm on Sundays and holidays) until 3:15pm the following day. (All times are Central time.) The minimum tick size will be 0.10 index points equal to $12.50. The new S&P 500 Sectors futures contracts follow the Global Industry Classification Standard (GICS), developed jointly by Standard & Poor’s and Morgan Stanley Capital International. Source: RiskCenter.com