Average daily volume has grown to a record 8,423 contracts in August.
“The U.S. technology sector has had a standout year and there has been a lot of attention on the FAANG stocks and the NYSE FANG+™ Index”, said Caterina Caramaschi, Global Head of Equity Derivatives at ICE. “The Index’s equal weighted methodology, coupled with the strong performance of many of the index constituents, has resulted in a diversified, positive performance for the index. This, combined with the smaller, micro size of the futures contracts, has attracted more participants who want to gain exposure to, or manage their exposure from, these ten giants among technology-related stocks.”
MICRO NYSE FANG+™ Index futures are based on ICE’s NYSE FANG+™ Index, which provides exposure to the 10 highly-traded technology and technology-related companies Alibaba®, Amazon®, Apple®, Baidu®, Facebook®, Google® (Alphabet), Netflix®, NVIDIA®, Tesla®, and Twitter®. The NYSE FANG+™ Index has consistently outperformed many other U.S. indices, producing an annualized total return of 33.41%*.
To provide greater flexibility, cost efficiency and accessibility for a wider range of participants, ICE reduced the notional value of the NYSE FANG+™ Index futures contract in September 2020 by one tenth to a notional value of approximately $35,000 and renamed the index futures MICRO NYSE FANG+™ Index futures.
For more information about MICRO NYSE FANG+™ Index futures, visit https://www.theice.com/fangplus.
*Returns as of September 19, 2014 to July 31, 2021. The NYSE FANG+™ Index launched on 09/26/2017. Prior performance (09/19/2014 to 09/25/2017) is based upon backtested index calculations.