OneChicago to Start Trading Single Stock Futures on the SPDR(R) Gold Trust
June 02 2008 - 1:40PM
PR Newswire (US)
CHICAGO, June 2 /PRNewswire/ -- OneChicago, LLC, the only US based
exchange for trading Single Stock Futures (SSF), a synthetic stock
lending and financing tool, today announced that it will launch for
trading on Tuesday, June 3, 2008, a SSF contract on the Exchange
Traded Funds ("ETFs") shares of the SPDR(R) Gold Trust (Sym: GLD).
This action comes after the issuance of an Exemptive order for this
product by the Commodity Futures Trading Commission ("CFTC") on May
30, 2008. The SPDR(R) Gold Trust listing will add to OneChicago's
growing roster of SSFs on ETFs, which includes the DIAMONDS(R)
Trust Series 1 (Sym: DIA), the Sector Select SPDR(R) Fund (Sym:
SPY), the PowerShares QQQ(R) (Sym: QQQQ) and the iShares Russell
2000(R) (Sym: IWM). (Logo:
http://www.newscom.com/cgi-bin/prnh/20020911/ONECHICAGOLOGO)
"Adding these unique products where underlying trading is highly
liquid continues OneChicago's strategy of anticipating and meeting
our customers needs," commented David G. Downey CEO of OneChicago.
He further applauded the "creativity and ingenuity of both the CFTC
and the Securities and Exchange Commission by providing a
regulatory framework for resolving certain jurisdictional issues in
their March 11, 2008 Principles Governing the Review of Novel
Derivative Products addendum to their Memorandum of Understanding.
This is the first product approval under the MOU and we appreciate
the agencies cooperative spirit." Recently OneChicago launched its
powerful Comparison Calculator, which enables users to compare the
costs of buying stocks on margin against the returns for using
equivalent SSF positions. The Comparison Calculator can be found at
http://www.onechicago.com/. About OneChicago: The Exchange lists
almost 800 futures on single stocks and 35 Exchange Traded Funds.
OneChicago is a joint venture of IB Exchange Corp., the Chicago
Board Options Exchange Incorporated(R) (CBOE(R)), and CME
Group(TM). All products are electronically traded on the
CBOEdirect(R) match engine and accessible through the CBOEdirect(R)
and CME Globex(R) platforms. Security futures can be traded out of
either securities or futures accounts. For more information about
OneChicago and its products, please access the OneChicago Web site.
http://www.newscom.com/cgi-bin/prnh/20020911/ONECHICAGOLOGO
http://photoarchive.ap.org/ DATASOURCE: OneChicago CONTACT:
OneChicago, +1-312-424-8500 Web site: http://www.onechicago.com/
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