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AMEX TO INTRODUCE LEAPS ON S&P MIDCAP 400 INDEX

 NEW YORK, July 9 /PRNewswire/ -- The American Stock Exchange today announced that it will introduce LEAPS(TM)--Long-term Equity AnticiPation Securities(TM)--on the Standard & Poor's MidCap 400 Index (symbol: MID) on Monday, July 12. The MID LEAPS will feature initial expirations in June and December of 1994 (symbol: WDI) and 1995 (symbol: VDI).
 Consisting of a cross-section of 400 stocks from the industrial, utility, financial and transportation industries, the S&P MidCap Index is designed to track the performance of the middle capitalization sector of the U.S. stock market.
 MID LEAPS will trade in addition to regular options which were launched on the Index in February of 1992, under a licensing agreement from McGraw-Hill, Inc., parent company of Standard & Poor's Corporation. LEAPS have longer terms until expiration than regular options, usually up to three years.
 Hull Trading Company will be the specialist unit for the LEAPS.
 The Amex trades a total of 335 stock options, including 90 options on over-the-counter stocks, as well as 43 LEAPS. In addition, options are traded on six 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), the Japan Index (JPN) and the EUROTOP 100 Index (EUR)--as well as six industry based indexes--the Oil Index (XOI), the Computer Technology Index (XCI), the Pharmaceutical Index (DRG), the DRG LEAPS(TM) Index (DGL), The Biotechnology Index (BTK), and the BTK LEAPS(TM) Index (BKL).
 -0- 7/9/93
 /CONTACT: Kathleen Fitzpatrick, manager - derivative securities communications of American Stock Exchange, 212-306-1697/


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

SH -- NY030 -- 9885 07/09/93 11:47 EDT
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Publication:PR Newswire
Date:Jul 9, 1993
Words:279
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