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AMEX TO INTRODUCE QUARTERLY EXPIRATIONS ON ITS MAJOR MARKET, INSTITUTIONAL AND S&P MIDCAP 400 INDEX OPTIONS

 NEW YORK, Feb. 18 /PRNewswire/ -- The American Stock Exchange today announced on Monday, Feb. 22, it will introduce Quarterly Expiration Index (QIX) options on the Major Market, Institutional and S&P MidCap 400 Indexes. QIX options will trade in addition to options with monthly and longer term expirations on the same indexes.
 The new quarterly expirations are being listed on the Indexes to create a sufficient hedging mechanism to coincide with quarterly and year-end portfolio valuations. QIX options provide an additional way for institutional investors and portfolio managers to tailor index options to meet their risk-management needs.
 QIX options will have similar strike prices and position limits as those for regular options on the same underlying indexes and will be cash settled, just like other index options. The last day for trading QIX options will be the last business day of the expiring calendar quarter. Settlement of the options will be based on the closing index value on the last trading day.
 QIX Major Market Index options will trade under ticker symbol "XQM," QIX Institutional Index options under "XQI" and QIX S&P MidCap 400 Index options under "MQD."
 The specialist unit for XQM will be SLK Index Specialists, L.P. Hull Trading Company will be the specialist unit for XQI and MQD.
 The Amex trades a total of 304 stock options, including 84 options on over-the-counter stocks, as well as 35 LEAPS(tm) (Long-term Equity AnticiPation Securities). 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 four industry based indexes-- the Oil Index (XOI), the Computer Technology Index (XCI), the Pharmaceutical Index (DRG) and The Biotechnology Index (BTK).
 -0- 2/18/93
 /CONTACT: Kathleen Fitzpatrick, Manager, Derivative Securities Communications of the American Stock Exchange, 212-306-1697/


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

LR -- NY071 -- 7999 02/18/93 14:55 EST
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Publication:PR Newswire
Date:Feb 18, 1993
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