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ICE Announces That a Record 20,723 Micro NYSE FANG+™ Index Futures Traded on August 26
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Very Positive)
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Rhea-AI Summary
Intercontinental Exchange (NYSE:ICE) announced a record trading day for its MICRO NYSE FANG+™ Index futures on August 26, with 20,732 contracts traded. This marks an increase in average daily volume to 8,423 contracts for August. The NYSE FANG+™ Index includes major tech firms like Alibaba and Amazon, boasting an annualized return of 33.41%. The futures contracts were reduced in notional value to approximately $35,000 in September 2020, enhancing accessibility for a broader range of participants.
Positive
Record trading volume of 20,732 MICRO NYSE FANG+™ Index futures on August 26.
Average daily volume increased to 8,423 contracts for August.
The NYSE FANG+™ Index has an annualized return of 33.41%.
Negative
None.
NEW YORK--(BUSINESS WIRE)--
Intercontinental Exchange, Inc. (NYSE:ICE), a leading global provider of data, technology, and market infrastructure, today announced that a record 20,732 Micro NYSE FANG+™ Index futures traded on August 26, marking its highest volume day. Average daily volume has grown to a record 8,423 contracts in August.
“The U.S. technology sector has had a standout year and there has been a lot of attention on the FAANG stocks and the NYSE FANG+™ Index”, said Caterina Caramaschi, Global Head of Equity Derivatives at ICE. “The Index’s equal weighted methodology, coupled with the strong performance of many of the index constituents, has resulted in a diversified, positive performance for the index. This, combined with the smaller, micro size of the futures contracts, has attracted more participants who want to gain exposure to, or manage their exposure from, these ten giants among technology-related stocks.”
MICRO NYSE FANG+™ Index futures are based on ICE’s NYSE FANG+™ Index, which provides exposure to the 10 highly-traded technology and technology-related companies Alibaba®, Amazon®, Apple®, Baidu®, Facebook®, Google® (Alphabet), Netflix®, NVIDIA®, Tesla®, and Twitter®. The NYSE FANG+™ Index has consistently outperformed many other U.S. indices, producing an annualized total return of 33.41%*.
To provide greater flexibility, cost efficiency and accessibility for a wider range of participants, ICE reduced the notional value of the NYSE FANG+™ Index futures contract in September 2020 by one tenth to a notional value of approximately $35,000 and renamed the index futures MICRO NYSE FANG+™ Index futures.
*Returns as of September 19, 2014 to July 31, 2021. The NYSE FANG+™ Index launched on 09/26/2017. Prior performance (09/19/2014 to 09/25/2017) is based upon backtested index calculations.
About Intercontinental Exchange
Intercontinental Exchange, Inc. (NYSE: ICE) is a Fortune 500 company that designs, builds and operates digital networks to connect people to opportunity. We provide financial technology and data services across major asset classes that offer our customers access to mission-critical workflow tools that increase transparency and operational efficiencies. We operate exchanges, including the New York Stock Exchange, and clearing houses that help people invest, raise capital and manage risk across multiple asset classes. Our comprehensive fixed income data services and execution capabilities provide information, analytics and platforms that help our customers capitalize on opportunities and operate more efficiently. At ICE Mortgage Technology, we are transforming and digitizing the U.S. residential mortgage process, from consumer engagement through loan registration. Together, we transform, streamline and automate industries to connect our customers to opportunity.
Trademarks of ICE and/or its affiliates include Intercontinental Exchange, ICE, ICE block design, NYSE and New York Stock Exchange. Information regarding additional trademarks and intellectual property rights of Intercontinental Exchange, Inc. and/or its affiliates is located here. Key Information Documents for certain products covered by the EU Packaged Retail and Insurance-based Investment Products Regulation can be accessed on the relevant exchange website under the heading “Key Information Documents (KIDS).”
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 -- Statements in this press release regarding ICE's business that are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see ICE's Securities and Exchange Commission (SEC) filings, including, but not limited to, the risk factors in ICE's Annual Report on Form 10-K for the year ended December 31, 2020, as filed with the SEC on February 4, 2021.
Apple® is a registered trademark of Apple, Inc. Facebook® is a registered trademark of Facebook, Inc. Amazon® is a registered trademark of Amazon Technologies, Inc. Netflix® is a registered trademark of Netflix, Inc. Google® is a registered trademark of Google, Inc. Alibaba® is a registered trademark of Alibaba Group Holding Limited. Baidu® is a registered trademark of Baidu.com, Inc. Nvidia® is a registered trademark of Nvidia Corporation. Tesla® is a registered trademark of Tesla, Inc. Twitter® is a registered trademark of Twitter, Inc.
