The group will add Communication Services Sector futures contract to its platform on September 10, 2018.
CME Group, a derivatives marketplace, 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 CME’s marketplace. 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 second quarter of this year 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.
Commenting on the addition of the contract, Tim McCourt, CME Group Global Head of Equity Index Products and Alternative Investments said: "We are pleased to offer our customers precise exposure to the rapidly-changing communications sector through our suite of E-mini S&P Select Sector Index futures. We continue to see strong market demand for liquid, cost-effective and capital-efficient tools to track the same underlying indices as the most popular ETFs."
Planned revision of the Global Industry Classification Standard sectors
The addition of the futures comes just ahead of the planned revision of the S&P 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, a derivatives marketplace, 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 CME’s marketplace. 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 second quarter of this year 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.
Commenting on the addition of the contract, Tim McCourt, CME Group Global Head of Equity Index Products and Alternative Investments said: "We are pleased to offer our customers precise exposure to the rapidly-changing communications sector through our suite of E-mini S&P Select Sector Index futures. We continue to see strong market demand for liquid, cost-effective and capital-efficient tools to track the same underlying indices as the most popular ETFs."
Planned revision of the Global Industry Classification Standard sectors
The addition of the futures comes just ahead of the planned revision of the S&P 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.
EU Parliament Imposes €10,000 Cash Payment Limit in New Anti-money Laundering Legislation
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
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#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
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#fmas #fmas24 #fmevents #networking #finance #africa
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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