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AMEX LAUNCHES OPTIONS ON THE S&P MIDCAP 400 INDEX

 AMEX LAUNCHES OPTIONS ON THE S&P MIDCAP 400 INDEX
 NEW YORK, Feb. 13 /PRNewswire/ -- The American Stock Exchange today


opened put and call options on Standard & Poor's MIDCAP 400 Index (symbol: MID). Options trading in the new product opened briskly, with more than 2,000 contracts changing hands in the first half hour.
 To kick off trading in the new MidCap options, the Amex held an industry breakfast that included keynote presentations from Joseph L. Dionne, chairman and CEO of McGraw-Hill, Inc. (parent company of S&P), F. Martin Koenig, chairman and CEO of F. Martin Koenig Advisors, an investment firm specializing in the mid-cap market sector, and Amex Chairman James R. Jones.
 At the breakfast, Jones said, "The launch of the MidCap options on the exchange represents not only a fulfillment of a major strategic objective for our derivative securities area in 1992, but also a giant step toward our ultimate goal of being the recognized premier marketplace for growth companies and derivative products."
 Dionne noted, "In evaluating where the MidCap license should be awarded, the Amex had many pluses. For example, the exchange has been hospitable to non-traditional types of securities, has helped new products become accepted in the trading community, and has served as a forceful advocate of America's growth companies."
 In October of 1991, the Amex won an exclusive licensing agreement with Standard & Poor's to trade options on the MidCap Index. The MidCap Index is composed of 400 companies with a median market capitalization of about $754 million and total market value of about $425 billion. To date, institutional investors have indexed more than $2 billion in assets to the Index.
 Hull Trading is the specialist unit for the new options.
 The Amex trades a total of 267 stock options, including 78 options on over-the-counter stocks. In addition, options are traded on five broad market indexes -- the Major Market Index (XMI), XMI LEAPS(SM) (XLT), S&P MidCap 400 Index (MID), 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 27 LEAPS (TM) on leading stocks which have expirations up to almost three years.
 -0- 2/13/92
 /CONTACT: Shelly Wolfe of American Stock Exchange, 212-306-1641/ CO: American Stock Exchange ST: New York IN: FIN SU:


CK -- NY063 -- 9767 02/13/92 12:52 EST
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Publication:PR Newswire
Date:Feb 13, 1992
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