BEIJING, Oct. 26 /Xinhua-PRNewswire/ -- Xinhua FTSE Index (XFI) announced
that the Philadelphia Stock Exchange (PHLX) has begun trading options on the
iShares Xinhua/FTSE China 25 Index Fund on October 19. This is the first time
investors in the United States and abroad will be able to track the
performance of the largest and most widely traded Chinese stocks by mirroring
the Xinhua/FTSE China 25 Index, which captures the top 25 Chinese stocks
available to international investors by total market capitalization.
"This is the first time that the investor on Main Street to the trader on
Wall Street can trade the direction of the Chinese economy," said Daniel
Carrigan, vice president of new products at the PHLX. Carrigan said the PHLX
provides deep, liquid and transparent markets for the fund iShares Xinhua/FTSE
China 25 ETF on PHLX XL, the Exchange's electronic trading platform.
Mark Makepeace, Chairman of FTSE Group and Xinhua FTSE Index said, "The
Xinhua/FTSE China 25 is an ideal tool for international investors to track the
China market. We're delighted that the PHLX has created options on the new
ETF."
Fredy Bush, CEO of Xinhua Finance and Director of XFI, said, "we are
excited to be an integral part of this investment vehicle, in which we
contribute our China expertise while FTSE provides its proven international
index methodology ensuring the index design is most relevant and investible as
a China investment tool."
The index is a product of Xinhua/FTSE Index, a unique joint venture
company that combines the expertise in international indexing of FTSE with the
local Chinese market knowledge and data capabilities of Xinhua Finance. The
first four trading days showed a cumulated volume of approximately 90
contracts, according to PHLX, an encouraging start for the options on the
iShares FTSE/Xinhua 25.
For more information please contact:
Beijing
Jean Li, Xinhua FTSE Index +86-10-6515-9265, jean.li@xinhuafinance.com
Hong Kong
Carol Chung, FTSE Asia Pacific, + 852 2230 5801, carol.chung@ftse.com
Joy Tsang, Xinhua Finance, +852-948-64364, joy.tsang@xinhuafinance.com
Notes to Editors
About Philadelphia Stock Exchange
Philadelphia Stock Exchange was founded in 1790. The PHLX trades 2,000
stocks, 15,00 equity options, 17 sectors index options and currency options
and futures. For more information about the PHLX and its products, visit
http://www.phlx.com.
About Xinhua/FTSE China 25 Index
Xinhua/FTSE China 25 Index is a real-time, tradable index designed for use
as the basis for both on-exchange and OTC derivative products, mutual funds
and ETFs. The Index includes the top 25 Chinese companies including H share
and Red Chip by total market cap. The index is designed to meet fund
regulatory requirements worldwide, with constituent weightings capped to avoid
over-concentration in any one stock.
About Xinhua FTSE Index
Established in late 2000, Xinhua FTSE Index (XFI), a joint venture between
Xinhua Finance Limited and FTSE, came into being to facilitate the creation of
real-time indices for the Chinese market. The indices can be used as a basis
for the trading of derivatives, index-tracking funds, Exchange Traded Funds
and as performance benchmarks. The combination of FTSE's expertise in
international indexing with Xinhua Finance's strong presence and capabilities
in China creates a level of expertise in the Chinese market that is
unprecedented. Providing the combined coverage for the Shanghai and Shenzhen
exchanges, all of the Xinhua/FTSE indices are designed according to
internationally proven index methodology to ensure products are transparent,
clear and consistent. For daily data and further information, please visit
http://www.xinhuaftse.com.
About FTSE Group
FTSE Group is a world leader in the creation and management of indices.
Their indexes are used extensively by investors worldwide for investment
analysis, performance measurement, asset allocation, portfolio hedging and for
creating a wide range of index tracking funds. Independent committees of
senior fund managers, derivatives experts, actuaries and other experienced
practitioners review all changes to the indices to ensure that they are made
objectively and without bias.
FTSE calculates and manages the FTSE Global Equity Index series, which
includes indexes ranging from the FTSE All-World Index, the socially
responsible investment-driven FTSE4Good series, the prestigious FTSE 100, and
the recently launched FTSE Hedge Index and Global Small Cap Index series.
In the US, FTSE has partnered with several notable financial industry
leaders to create and manage products for the investment community-including
Dow Jones Indexes to build a new, global industry classification system, named
the International Classification Benchmark (ICB); Rockville, MD-based
Institutional Shareholder Services (ISS) to create corporate governance
benchmark indexes; and the American Stock Exchange (Amex) to assist in the
creation of ETFs for the U.S. marketplace. In other markets, FTSE also has
collaborative arrangements with the Athens, Cyprus, Euronext, Johannesburg,
London, Luxembourg, and Madrid exchanges, as well as with Nikkei of Japan
(Nihon Keizai Shimbun, Inc), and Xinhua Financial Network of China. With
offices in London, Frankfurt, Hong Kong, Madrid, Paris, New York, San
Francisco and Tokyo, FTSE Group services clients in 77 countries worldwide.
Real-time FTSE indices are calculated on systems managed by Reuters. Prices
and FX rates used are supplied by Reuters.
About Xinhua Finance Limited
Xinhua Finance Limited is an independent financial services and media
company providing financial news and information, as well as a broad array of
financial products and services unique to the China markets. Xinhua Finance
provides real time coverage of Chinese and Asian equity markets, delivering an
integrated platform of China-specific indices, financial news, ratings, and
investor relations services to global financial institutions and re-
distributors via leased line, internet, and satellite technology.
Founded in 1999, Xinhua Finance is owned by a group of international
shareholders and managed by a team of experienced business professionals
recognized for their industry knowledge and pioneering role in accelerating
efficiencies and transparency within China's rapidly expanding capital
markets. Headquartered in Hong Kong, Xinhua Finance has offices around the
world, including Beijing, Shanghai, Shenzhen, Taipei, Tokyo, Seoul, Singapore,
and New York, Washington D.C., Chicago, London. For more information, see
http://www.xinhuafinance.com.
SOURCE Xinhua FTSE Index
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Related links:
http://www.phlx.com
http://www.xinhuaftse.com http://www.xinhuafinance.com
CONTACT:
Beijing: Jean Li of Xinhua FTSE Index
+86-10-6515-9265, jean.li@xinhuafinance.com; or Hong Kong: Carol
Chung of FTSE Asia Pacific, +852-2230-5801, carol.chung@ftse.com;
or Joy Tsang of Xinhua Finance, +852-948-64364,
joy.tsang@xinhuafinance.com
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