ISE Mini Indexes

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Included in the 31* ISE index options are options on four "mini" indexes: the FTSE 250 (FTZ), FTSE 100 (UKX), Nasdaq 100 (MNX), and Russell 2000 (RMN).

Options on some of the larger-sized indexes -- Russell 1000, Russell 2000 and Nasdaq 100 are also listed on ISE, as well as on other exchanges. The larger-sized FTSE Index option, however, is not listed on ISE. Capitalization varies by index. Some are capitalization weighted, and others are modified market capitalization weighted. Each are offered for trading from 9:30 A.M. - 4:15 P.M. Eastern Time (New York time), and each uses European exercise.

  • The Mini FTSE 250 Index option (JIF) is based on 1/10th of the value of the full-size FTSE 250 Index. (The FTSE 250 Index is a cap-weighted index of the most highly capitalized companies listed on the London Stock Exchange outside the FTSE 100.)
  • The Mini FTSE 100 Index option (UKX) is based on 1/10th of the value of the full-size FTSE 100 Index. (The FTSE 100 Index is a cap-weighted index representing the most highly capitalized blue-chip companies listed on the London Stock Exchange, representing about 80% of the UK market.)
  • The Mini-Nasdaq-100 Index option (MNX) is based on 1/10th the value of the Nasdaq-100 Index (NDX). (The Nasdaq-100 Index is a "modified market capitalization-weighted" index representing 100 of the largest non-financial domestic and international issues listed on the Nasdaq Stock Market. The index was created in 1985 with a base value set to 250. The index level was cut in half in January 1994 after reaching a level of nearly 800 on December 31, 1993.)
  • In addition to offering trading in the full-sized Russell 1000 Index and Russell 2000 Index option, ISE lists options on the Mini-Russell 2000 Index option, which is based on 1/10 of the full-sized Russell 2000 Index (RUT). (The cap-weighted Russell 2000 measures performance of the bottom 2,000 companies from a universe of the 3,000 largest stocks in the U.S. traded on major stock exchanges. The Russell 2000 Index is adjusted in June each year to reflect changes in rankings and shares outstanding.)


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