CME Group, a , announced on Thursday that it would add Communication Services Sector futures contract to its suite of E-mini S&P Select Futures. The new futures will be available to trade from September 10, 2018.
The Communication Services Sector futures join the ten already existing Select Sector futures products on . Currently, the group offers E-mini S&P Select Sector future products in the technology, healthcare, utilities, consumer staples, finance, consumer discretionary, energy, materials, industrial, and real estate sectors.
According to the statement, for Select Sector futures more than 12,000 contracts were traded per day in the on CME’s platform. This was an increase of 71 percent year-on-year. To help rebalance the exposure between the new sector and existing Select Sector Index futures on its marketplace, the group will give customers a fee waiver for Basis Trade at Index Close (BTIC) transaction for the new contract.
Source: LinkedIn
Planned revision of the Global Industry Classification Standard sectors
The addition of the futures comes just ahead of the planned revision of the Dow Jones Indices and MSCI’s Global Industry Classification Standard sectors on September 21, 2018. The revision is for the information technology, consumer discretionary and telecommunications sectors.
Following this, the newly updated sector will be renamed to Communication Services. The sector will consist of 26 companies. This will include AT&T, Verizon, Facebook, Netflix, Google, and Disney.
CME Group Broadens its Suite of E-mini S&P Select Futures
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