Small Exchange Adds Tech Index Future, Reports Global Investor Group
Global Investor Group
The Small Exchange in Chicago has launched a future based on its Small Technology 60 Index, known as STIX 60, which tracks the most active information, retail, media and biotechnology stocks. Speaking to Global Investor shortly after the launch on Monday, president and chief executive Don Roberts said the exchange felt the time was right to introduce the index future, which tracks 15 stocks over each of the four sectors.
"Technology is driving the equities markets at this time, and we feel that by launching this product we’re giving participants a new avenue to either hedge a portion of their portfolio, speculate on tech or create along-term investment for themselves," he said, "and we’ve done it on a smaller, standard and simple basis". Roberts continued "We’re a very small player in a land of giants," and "We don’t view the CME or the ICE or any of these large incumbent exchanges as being in direct competition to our exchange," Roberts said. "Competition across the board is terrific and our goal is truly to grow the pie and enhance the capabilities of futures traders".
The Small Exchange is making futures markets more accessible to more people with small, standard, and simple products that combine the best of futures and stocks.
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