THE PHILADELPHIA
STOCK EXCHANGE TO BEGIN TRADING OPTIONS ON iSHARES LEHMAN US TREASURY
EXCHANGE TRADED FUNDS
“ TRADING TO BEGIN ON FRIDAY, APRIL 15”
For more information, contact Barbara Sorid at 215-496-5200
or by e-mail
PHILADELPHIA – April 14, 2005 - The Philadelphia Stock Exchange
(PHLX) announced today that it will begin trading options on iShares
Lehman US Treasury Exchange Traded Funds (TLT, IEF, SHY, AGG and TIP)
on Friday, April 15. Options on TLT, IEF, and SHY, AGG and TIP will
trade on PHLX XL, the Exchange’s electronic trading platform,
along with 1,650 other equity options.
"Interest rate volatility has been a constant
headline since the Federal Reserve began raising rate short term
interest rates.
With the bond market having experienced a sharp sell off since mid-February,
PHLX wanted to bring interest rate trading tools to holders of securities
accounts.” said PHLX Vice President of New Products, Daniel
Carrigan. “Individual investors or institutional traders can
tailor-make hedging strategies to fit the term duration of their
Treasury portfolios by using options on iShares Lehman ETFs in their
option-approved stock trading accounts. Conversely, these products
can be used to create synthetic long Treasury portfolios,” Carrigan
added.
Lehman iShares 1-3 Year Treasury Bond Fund (SHY), Lehman iShares
7-10 Year Treasury Bond Fund (IEF), and Lehman 20+ Year Treasury
Bond Fund (TLT) have been allocated to Susquehanna Investment Group.
Lehman iShares Aggregate Bond Fund (AGG) and Lehman iShares TIPS
Bond Fund (TIP) have been allocated to LaBranche Structured Products
LLC.
About the PHLX
The Philadelphia Stock Exchange was founded in 1790. The PHLX trades
2,000 stocks, more than 1,650 equity options, 21 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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