The Pacific Exchange and Russell to Offer Trading on Russell ETF Options.Business Editors TACOMA, Wash.--(BUSINESS WIRE)--Dec. 17, 2002 The Pacific Exchange (PCX (1) A bitmapped graphics file format that handles monochrome, 2-bit, 4-bit, 8-bit and 24-bit color and uses RLE to achieve compression ratios of approximately 1.1:1 to 1.5:1. Images with large blocks of solid colors compress best under the RLE method. See PC Paintbrush. ) and Frank Russell Frank Russell may refer to the following people:
See Exchange Traded Fund. ETF See exchange-traded fund (ETF). options contracts based on the family of 12 Russell index iShares. Effective Wednesday, Dec. 18, PCX will initiate trading by listing the first of these ETFs: iShares Russell 1000, iShares Russell 1000 Value, and iShares Russell 2000 Value. "Russell's U.S. indexes offer investors an ideal tool for use as the underlying benchmark for options and a wide range of exchange traded fund Exchange Traded Fund Similar to an index mutual fund, these tracking stocks trade continuously. Two popular ETFs are the Standard and Poor's depositary receipt (SPDR) launched in 1993 and the NASDAQ-100 Index Tracking Stock (QQQ) which was launched in 1999. products," said Kevin Lohman, global sales manager sales manager n → gerente m/f de ventas sales manager n → directeur commercial sales manager sale n → of Russell indexes Russell Indexes US equity index widely used by pension and mutual fund investors that are weighted by market capitalization and published by the Frank Russell Company of Tacoma, Washington. . "We're particularly pleased to sign this agreement with the Pacific Exchange, which will use its top-notch electronic options trading systems for these products." The agreement comes at a time of growing popularity for ETFs such as Russell index iShares, which offer investors a basket of securities designed to generally track an index yet trade like a single stock. Options on ETFs offer an opportunity to either capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. an expected market move or to protect holdings in the underlying index-based instrument. "This agreement gives us the opportunity to offer investors yet another set of powerful investment tools," Jonathan B. Werts, PCX Vice President for Business and Product Development. "We are very pleased to extend our relationship with Russell, and look forward to working with the firm in the future." The 12 exchange-traded funds known as Russell iShares are managed by Barclay's Global Fund Advisors, a subsidiary of Barclays Global Investors Barclays Global Investors is a subsidiary of British-based Barclays Bank which is in the investment management industry. It is the largest corporate money manager in the world, with over £936 billion (US$1.77 trillion) under management as of March 2006[1]. , N.A., the largest manager of indexed products in the world. These ETFs include iShares Russell 1000, iShares Russell 1000 Value, iShares Russell 1000 Growth, iShares Russell 2000, iShares Russell 2000 Value, iShares Russell 2000 Growth, iShares Russell 3000, iShares Russell 3000 Value, iShares Russell 3000 Growth, iShares Russell MidCap, iShares Russell MidCap Value, and iShares Russell MidCap Growth. About Russell Indexes More than $1 trillion in assets are currently benchmarked to Russell's family of 21 unmanaged U.S. indexes, and more than 25 percent of institutional U.S. equity products now rely on these indexes as performance benchmarks. In addition, passive investments in index funds benchmarked on Russell indexes surged to a record $214 billion in 2001 and $250 billion in 2002. Russell indexes were developed in 1984 to provide objective and transparent market transparent market A market in which current quotation and trade information is readily available to the public. benchmarks for investors and investment managers. The indexes and their methodology are continuously evaluated, including review by the Russell Index Client Advisory Board, which is comprised of fund sponsors and brokers as well as active and passive managers. To ensure transparency, Russell indexes are listed publicly to avoid market uncertainties when a company is added or deleted from a Russell index at annual reconstitution. Russell indexes are used by institutional investors and mutual funds as quantitative benchmarks for evaluating investment manager and fund manager performance. Russell indexes are calculated, distributed and serviced by Russell/Mellon Analytical Services. About The Pacific Exchange Founded in 1882, the Pacific Exchange is the leading source of technological innovation for U.S. securities markets. The PCX is the nation's fourth largest options exchange, with a traditional trading floor in San Francisco San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden . Earlier this year, the PCX moved its equities trading operations to the Archipelago Exchange (ArcaEx), a fully electronic stock market for listed and Nasdaq securities. ArcaEx operates as a regulated facility of the Pacific. About Russell Frank Russell Company, a global leader in multi-manager investment services, provides investment products and services in more than 35 countries. Russell manages $70 billion in assets and advises clients worldwide representing US$1.8 trillion. Founded in 1936, Russell is a subsidiary of Northwestern Mutual and is headquartered in Tacoma, Wash., with additional offices in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , Toronto, London, Paris, Singapore, Sydney, Auckland and Tokyo. For more information, go to www.russell.com. Frank Russell Company, a Washington, USA corporation, operates through subsidiaries worldwide. |
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