AMEX BEGINS DISSEMINATING VALUE OF ITS PHARMACEUTICAL INDEX UNDER TICKER SYMBOL 'DRG'
AMEX BEGINS DISSEMINATING VALUE OF ITS PHARMACEUTICAL INDEX UNDER TICKER SYMBOL 'DRG' NEW YORK, April 29 /PRNewswire/ -- The American Stock Exchange today said that data on its newly created Pharmaceutical Index is now available over the facilities of the Consolidated Tape Association (CTA). The new information is available on market data machines under ticker symbol "DRG." In September of 1991, the Exchange filed with the Securities and Exchange Commission (SEC) for permission to trade options on the Pharmaceutical Index, which is based on 15 leading pharmaceutical stocks and American Depositary Receipts (ADRs). The components represent a cross section of widely held, highly capitalized companies involved in various areas of the pharmaceutical industry. The index comprises the following fifteen companies: Abbott Laboratories Pfizer Inc. American Home Products Corporation Rhone-Poulenc Rorer, Inc. Bristol-Myers Squibb Company Schering-Plough Corporation Eli Lilly and Company Johnson & Johnson Glaxo Holdings plc(ADR) Marion Merrell Dow, Inc. Merck & Co., Inc. SmithKline-Beecham Equity Units(ADR) Syntex Corporation Warner-Lambert Company Upjohn Company The Amex's Pharmaceutical Index is capitalization weighted, utilizing the U.S. primary market prices for component securities, and current shares outstanding. The Exchange expects to introduce options trading on the Pharmaceutical Index shortly after SEC approval is granted. In addition, the Amex is awaiting SEC approval to trade options on its Biotechnology Index, which is currently being disseminated on market data machines under ticker symbol "BTK." The Amex trades a total of 278 stock options, including 81 options on over-the-counter stocks. In addition, options are traded on five broad market indexes -- the Major Market Index (XMI), XMI LEAPS(TM) (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 33 LEAPS (TM) on leading stocks which have expirations up to almost three years. -0- 4/29/92 /CONTACT: Shelly E. Wolfe of American Stock Exchange, 212-306-1641/ CO: American Stock Exchange ST: New York IN: FIN SU:
SH -- NY064 -- 4456 04/29/92 14:05 EDT
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|Date:||Apr 29, 1992|
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