SSF Update

Discussion in 'Financial Futures' started by saico, Sep 9, 2002.

  1. shyhh


    CHICAGO, IL – Nov. 06, 2002 – OneChicago, LLC today announced that it has signed a license agreement with Dow Jones & Co., Inc. enabling OneChicago to offer futures contracts on the DIAMONDS exchange-traded fund (DIA). OneChicago intends to offer DIAMONDS futures subsequent to its launch on Nov. 8, pending regulatory approval.

    DIAMONDS are shares in an exchange-traded fund designed to track the performance of the Dow Jones Industrial Average (DJIA). Futures on DIAMONDS will provide investors exposure to the DJIA with the capital efficiencies and immediate execution benefits of security futures.

    OneChicago Chairman and Chief Executive Officer William J. Rainer said, “OneChicago is pleased to begin a business relationship with Dow Jones Indexes. The DIAMONDS will be a complementary product to our broad menu of security futures contracts as well as an important hedging tool for the fast growing DIAMONDS options and DJIA futures contracts listed at the Chicago Board Options Exchange and the Chicago Board of Trade, two of our joint venture partners.”

    David Moran, president of Dow Jones Indexes said, “Dow Jones Indexes is pleased that OneChicago will offer DIAMONDS futures on its state of the art platform for electronic derivatives trading. The Dow Jones Industrial Average is the most recognized equity market index in the world. We believe that this product will garner strong investor demand and complement the existing DJIA ETF (DIAMONDS), standardized cash options, options on DIAMONDS and DJIA futures family of products.

    OneChicago’s DIAMONDS contracts will represent shares of the underlying DIAMONDS Trust Series One. Like all of OneChicago’s products, the DIAMONDS will be physically settled at expiration, electronically traded on the CBOEdirect® match engine and accessible through the CBOEdirect and GLOBEX® platforms. The contracts can be traded out of either a securities or a futures account.

    #21     Nov 7, 2002
  2. shyhh


    Gee, one more day to go and still pending approval... :D
    #22     Nov 7, 2002
  3. If the volume of DJ futures itself is so low, I cannot see why they need another one.

    #23     Nov 7, 2002
  4. At least NQLX claims to already have approval

    Whether Pitt's resignation will affect approval of OneChicago I don't know

    I've kind of lost interest in SSF now that it seems they won't trade after hours anyhow
    #24     Nov 7, 2002