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AMEX LAUNCHES OPTIONS TRADING ON GROUPING OF TOP EUROPEAN STOCKS, EUROTOP 100 INDEX; EXCHANGE SCHEDULES EARLY MORNING TRADING SESSION

 AMEX LAUNCHES OPTIONS TRADING ON GROUPING OF TOP EUROPEAN STOCKS,


EUROTOP 100 INDEX; EXCHANGE SCHEDULES EARLY MORNING TRADING SESSION
 NEW YORK, Oct. 26 /PRNewswire/ -- The American Stock Exchange today launched options trading on the EUROTOP 100 Index (AMEX: EUR). Trading on the EUROTOP opened at 8:30 a.m., an hour before the start of the Exchange's official trading session.
 Comprised of 100 of the most actively traded stocks listed on nine European stock exchanges, the EUROTOP, also known as the E100 Index, was developed by Amsterdam's European Options Exchange (EOE) to measure the collective performance of the European stock market as a whole.
 "Options trading on the EUROTOP opens the door for American investors looking to participate in the highly active European market without having to buy each individual stock. Amex's E100 options also come at a time when American investors are particularly interested in hedging their current European stock portfolios," said American Stock Exchange Chairman James R. Jones.
 Amex options trading is based on one-half the value of the E100 Index. The Index is denominated in U.S. dollars, based on a valuation method in which component stock prices in European Currency Units (ECUs) are stated in dollars.
 EUR opened with strike prices of 395, 400, 405, 410, 415, 420 and 425. Initial expiration months are November and December of 1992 and January of 1993. At the start of today's trading, the Index level was at 417.11.
 The Index is weighted based upon the capitalization of each country's primary stock exchange and Gross National Product (GNP). Until 1994, each country's respective weighting in the Index is as follows: United Kingdom, 22 percent; Germany, 15 percent, France, 15 percent, Italy, 10 percent, Switzerland, 10 percent, Netherlands, 8 percent; Spain, 8 percent; Sweden, 8 percent and Belgium, 4 percent.
 The Amex trades a total of 296 stock options, including 81 options on over-the-counter stocks, as well as 34 LEAPS(TM) (Long-term Equity AnticiPation Securities). In addition, options are traded on five broad-market indexes-- the Major Market Index (XMI), the XMI LEAPS (TM) Index (XLT), the S&P MidCap 400 Index (MID), the Institutional Index (XII), and the Japan Index (JPN) -- as well as four industry based indexes -- the Oil Index (XOI), the Computer Technology Index (XCI), the Pharmaceutical Index (DRG) and The Biotechnology Index (BTK).
 -0- 10/26/92
 /CONTACT: Kathleen Fitzpatrick, manager-derivative securities communications of AMEX, 212-306-1697/ CO: American Stock Exchange ST: New York IN: FIN SU: PDT


SH -- NY053 -- 4731 10/26/92 11:25 EST
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Copyright 1992 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Oct 26, 1992
Words:419
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