ATLANTA & NEW YORK--(BUSINESS WIRE)--Intercontinental Exchange (NYSE:ICE), a leading operator of global exchanges and clearing houses and provider of data and listings services, announced the launch of the NYSE FANG+TM Index, an index that provides exposure to a select group of highly-traded growth stocks of next generation technology and tech-enabled companies. On November 8, 2017, ICE Futures U.S. plans to launch a quarterly futures contract based on the NYSE FANG+ Index, subject to regulatory review.
The NYSE FANG+ Index is equal-weighted and will initially consist of the five core FANG stocks, including Facebook, Apple, Amazon, Netflix and Alphabet’s Google, plus another five actively-traded technology growth stocks -- Alibaba, Baidu, NVIDIA, Tesla and Twitter. Starting today, the real-time NYSE FANG+ Index will be calculated and disseminated through the NYSE Global Index Feed under the symbol “NYFANG.”
The launch of the futures contract on ICE Futures U.S. is designed to offer hedging of and exposure to the NYSE FANG+ Index with the capital efficiency of futures, and will complement the exchange’s equity index futures complex.
“Given their size, performance and innovation, the FANG stocks are among the most widely traded stocks and we’re pleased to offer a capital efficient means of accessing and hedging these growth stocks in a cost-effective way,” said Trabue Bland, President of ICE Futures U.S. “We are leveraging our product development, index solutions and global feeds to develop, distribute and trade this new index future.”
Based on back-tested performance data, the combination of stocks in the NYSE FANG+ Index have returned a 28.44% annualized total return from September 19, 2014 to September 15, 2017, as compared to 14.89% for the NASDAQ-100®, 9.86% for the S&P 500® and 16.80% for the S&P 500® Information Technology Index. More information on the NYSE FANG+ Index’s performance, data and trading the futures contract can be found at https://www.theice.com/fangplus.
About Intercontinental Exchange
Intercontinental Exchange (NYSE:ICE) is a Fortune 500 company that operates a leading network of global futures, equity and equity options exchanges, as well as global clearing and data services across financial and commodity markets. The New York Stock Exchange is the world leader in capital raising, listings and equities trading.
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Apple® is a registered trademark of Apple, Inc.
Facebook® is a registered trademark of Facebook, Inc.
Amazon® is a registered trademark of Amazon Technologies, Inc.
Netflix® is a registered trademark of Netflix, Inc.
Google® is a registered trademark of Google, Inc.
Alibaba® is a registered trademark of Alibaba Group Holding Limited
Baidu® is a registered trademark of Baidu.com, Inc.
Nvidia® is a registered trademark of Nvidia Corporation
Tesla® is a registered trademark of Tesla, Inc.
Twitter® is a registered trademark of Twitter, Inc.
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SOURCE: Intercontinental Exchange