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.
SOURCE OneChicago