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AMEX CHANGES NAME OF LT-20 INDEX OPTIONS TO XMI LEAPS (SM); PROVIDES OPTIONS INVESTORS WITH STANDARDIZED NAME FOR LONG-TERM OPTIONS

AMEX CHANGES NAME OF LT-20 INDEX OPTIONS TO XMI LEAPS (SM); PROVIDES
 OPTIONS INVESTORS WITH STANDARDIZED NAME FOR LONG-TERM OPTIONS
 NEW YORK, Dec. 18 /PRNewswire/ -- The American Stock Exchange today announced that effective Monday, Dec. 23, it will change the name of its LT-20 Index options to XMI Leaps (sm) -- Long-Term Equity Anticipation Securities. The change is being made to conform to industry practice of utilizing the LEAPS(sm) name for longer term options. The exchange currently trades 22 long-term equity options using the LEAPS(sm) acronymn.
 XMI LEAPS(sm) (ticker symbol: XLT) are long-term options based on 1/10th the value of the Amex's Major Market Index (XMI). XMI is designed to measure the performance of the blue-chip sector of the stock market and is based on 20 actively traded stocks representing a broad range of industries. XMI LEAPS(sm) have expirations as far out as three years, providing investors with opportunities to seek profit or protection from broad stock market movements on a long-term basis.
 The Amex trades a total of 260 stock options, including 72 options on over-the-counter stocks. In addition, options are traded on four broad market indexes -- the Major Market Index (XMI), the LT-20 Index (XLT), the Institutional Index (XII) and the Japan Index (JPN) -- as well as two industry-based indexes -- the Oil Index (XOI) and the Computer Technology Index (XCI). CAPS -- capped options -- are traded on XMI and XII as well. The exchange also trades 22 long-term options on leading stocks which have expirations up to almost three years.
 -0- 12/18/91
 /CONTACT: Shelly Wolfe of Amex, 212-306-1641/ CO: American Stock Exchange ST: New York IN: SU:


KD-KW -- NY051 -- 3450 12/18/91 13:15 EST
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Publication:PR Newswire
Date:Dec 18, 1991
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