Printer Friendly

PHLX CURRENCY OPTION, BANK INDEX TO BEGIN TRADING TODAY

 PHLX CURRENCY OPTION, BANK INDEX TO BEGIN TRADING TODAY
 PHILADELPHIA, Sept. 21 /PRNewswire/ -- A new currency option


contract and a first-ever option on an index of U.S. bank stocks will begin trading today at the Philadelphia Stock Exchange (PHLX).
 A bell-ringing ceremony hosted by PHLX President and Chief Executive Officer Nicholas A. Giordano will be held on the Exchange floor to mark the opening of both contracts.
 Volatile world currency markets and the French referendum on European monetary and currency union (the Maastricht Treaty) will focus market attention on the launch of the PHLX British pound/Deutsche mark cross rate option at 10 a.m. (EDT) today at the PHLX.
 This is the second cross rate option contract to be traded at PHLX. In November 1991, PHLX became the first U.S. securities exchange to begin trading an instrument settled in a currency other than the U.S. dollar when it began trading Deutsche mark/Japanese yen options.
 Also at 10 a.m., trading will begin on the Philadelphia Stock Exchange/Keefe, Bruyette & Woods, Inc. (PHLX/KBW) Bank Index.
 The PHLX/KBW Bank Index is a capitalization weighted index of 24 publicly traded banks, the same underlying banks as in the Keefe, Bruyette & Woods Index (KBWI) compiled and computed by KBW, one of Wall Street's leading investment houses specializing in the banking sector. With the PHLX/KBW Bank Index, investors will be able to protect their existing bank stock portfolios, or invest in a broad group with one transaction, rather than requiring a series of individual transactions.
 Founded in 1790, PHLX is the nation's oldest securities exchange and is a market leader in trading more than 2,200 equities and over 250 equity, index and currency options.
 /delval/
 -0- 9/21/92
 /CONTACT: Lynda Lucker of the PHLX, 215-496-5200, or Ian Colley of the Weiser Walek Group, 212-684-4440, for the PHLX/ CO: Philadelphia Stock Exchange; Keefe, Bruyette & Woods, Inc. ST: Pennsylvania IN: FIN SU: PDT


LJ-MK -- PH008 -- 1514 09/21/92 09:13 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Sep 21, 1992
Words:335
Previous Article:DAVIS WATER & WASTE REPORTS FIRST QUARTER RESULTS; EXPECTS PROFITABLE FISCAL 1993
Next Article:HEARX TO MAKE ACQUISITIONS ON FLORIDA WEST COAST
Topics:


Related Articles
PHLX TO BEGIN TRADING LEAPS(TM) ON SYNERGEN
PHLX TO DELIST FOUR PRIMARY ISSUES
PHLX SETS EQUITY AND CURRENCY OPTION TRADING RECORDS FOR 1992
PHILADELPHIA STOCK EXCHANGE RECEIVES MERGER PROPOSAL, SUSPENDS TRADING IN MEMBERSHIPS
PHLX TO CLOSE ALL MARKETS EARLY FRIDAY, NOVEMBER 25
PHLX TO BE OPEN FOR TRADING ON GOOD FRIDAY
PHLX Equities and Options Products Set 1996 Records
PHLX'S Options Volume Nearing All-Time Record Levels
PHLX Posts Increase in First Quarter Volume; Record Equity Options Volume
PHLX Equity Options Volume Continues Record-Breaking Pace; Volume Increases Over 45%

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters