THE PHILADELPHIA STOCK
EXCHANGE TO BEGIN TRADING OPTIONS ON THE PHLX WORLD ENERGY INDEXSM
(XWESM)
“ TRADING TO BEGIN ON OCTOBER 6”
For more information, contact Barbara Sorid at 215-496-5200
or by e-mail
PHILADELPHIA – Oct. 5 2005 - The Philadelphia
Stock Exchange (PHLX) announced today that it will begin trading options
on the PHLX World Energy Index (XWE) on October 6. Cash options on
XWE will trade on PHLX XL, the Exchange’s electronic trading
platform, along with 25 other PHLX proprietary indexes.
“The Energy industry has been marked by turbulent times of pricing
pressures from supply chain interruptions and reduced spare capacity
over the last twenty years.” said PHLX Vice President of New
Products, Daniel Carrigan. “Demand for energy of all types faces
rising demand from developing countries and is the lynchpin of the
U.S. economy. XWE provides investors with a global snapshot of energy
concerns in order to address their portfolio hedging and trading needs,”
added Carrigan.
“Energy price volatility impacts capital infrastructure
investments by firms on all sides of the energy-business spectrum,”
said Kevin Fischer, Assistant Vice President of Timber Hill, LLC.
“Business decisions made today to expand or improve production
and distribution have a profound effect on company operating results
– and with the volatile state of weather patterns, deliverability
problems are more pronounced today. Accordingly, the PHLX World Energy
Index can act as a directional indicator for the future state of the
global energy industry.”
The Philadelphia Stock Exchange was founded in 1790. The PHLX trades
2,000 stocks, 1,700 equity options, 26 sectors index options and currency
options and futures. For more information about the PHLX and its products,
visit www.phlx.com.
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