7,956
edits
Line 1: | Line 1: | ||
The cash-settled KBW Bank Index (BKX), traded on the [[International Securities Exchange]] and [[PHLX]], is a float-adjusted, modified market-cap index comprising 24 leading national money center banks and thrifts used used to hedge exposure to this sector | The cash-settled KBW Bank Index (BKX), traded on the [[International Securities Exchange]] and [[PHLX]] (BKXSM is a service mark of the Philadelphia Stock Exchange, Inc.), is a float-adjusted, modified market-cap index comprising 24 leading national money center banks and thrifts used used to hedge exposure to this sector. | ||
A modified-capitalization-weighted index, it is evaluated at least annually by Keefe, Bruyette & Woods (KBW) to assure that the composition is highly representative of the banking industry. KBW is an institutionally oriented securities broker/dealer and full service investment bank that specializes in the financial services sector. | |||
The BKX Bank Index captures over $1.2-trillion market capitalization of the U.S. banking industry. Citigroup, Bank of America, J.P. Morgan Chase, Wells Fargo, Wachovia, and the Bank of New York Mellon Corp. are a few of the banks covered in the Index. | |||
'''Full ISE specifications''': [[http://www.ise.com/WebForm/options_product_indexDetails.aspx?categoryid=234&header0=true&menu2=true&link2=true&symbol=BKX]] | |||
'''Full PHLX specifications''': [[http://www.phlx.com/products/bkx.html#contract]] | |||
== Resources == | |||
International Securities Exchange [[http://www.ise.com/WebForm/options_product_indexDetails.aspx?categoryid=234&header0=true&menu2=true&link2=true&symbol=BKX]] | |||
Philadelphia Stock Exchange [[http://www.phlx.com/products/bkx.html]] | |||
Keefe, Bruyette & Woods [[http://www.kbw.com/about/index.html]] |
edits