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AMEX FLEX OPTIONS TOTAL MORE THAN $59 MILLION IN UNDERLYING CASH VALUE IN FIRST WEEK OF TRADING

 NEW YORK, Sept. 20 /PRNewswire/ -- The total underlying dollar value of trading in the American Stock Exchange's FLEXible Exchange Index Options (FLEX) climbed over the $59 million mark after the first full week of trading. The dollar value of FLEX trades reported last week on the exchange's Major Market Index (ticker symbol: XMI) totaled $36.7 million, while $22.8 million traded on the Institutional Index (XII). The exchange began trading FLEX Options on the XMI, XII and the S&P MidCap 400 Index (ticker symbol: MID) on Sept. 10, 1993.
 FLEX Options allow investors, primarily institutional, to customize key contract terms of exchange-traded options, such as exercise price and style (American, European, or Capped), expiration date and settlement value. By comparison, most exchange-traded options have set characteristics.
 FLEX Options have position limits of 200,000 contracts. All FLEX transactions are cleared through The Options Clearing Corporation, a AAA credit-rated company.
 Designed to measure the performance of the U.S. blue-chip market, the Major Market Index is a key indicator of the movement of large capitalization stocks. The Institutional Index is a barometer of institutional portfolio holdings.
 A leading U.S. options exchange, the Amex is home to over 346 stock options, including 98 options on over-the-counter stocks, as well as 43 LEAPS(R) (Long-term Equity AnticiPation Securities)(R). In addition, options are traded on six broad market indexes and six industry-based indexes.
 -0- 9/20/93
 /CONTACT: Kathleen Fitzpatrick, manager-derivative securities communications of American Stock Exchange, 212-306-1697/


CO: American Stock Exchange ST: New York IN: FIN SU:

CK -- NY077 -- 3732 09/20/93 13:53 EDT
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Publication:PR Newswire
Date:Sep 20, 1993
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