NEW YORK (HedgeWorld.com)–The two exchanges that will light the candle on single-stock futures on Friday are preparing ceremonies for the occasion.
At the Nasdaq-Liffe Market, its chief executive, Tom Ascher, along with the chief executive of Euronext.liffe, Hugh Freedberg, and the executive vice president of Nasdaq, William R. Harts, will hold a ceremony marking the occasion at the Nasdaq MarketSite broadcast studio just moments before the opening.
The initial listing will include futures on the following stocks: Chevron Texaco, Exxon Mobil, Ford Motor, General Electric, General Motors, Honeywell International, IBM, Intel, Microsoft, and Oracle. “These companies represent the innovation, determination and leadership that embody American capitalism at its finest,” said Mr. Ascher in a statement on Wednesday. “We look forward to developing NQLX to a point where it enhances the efficiency of the U.S. capital markets.”
The NQLX will also list futures on four exchange-traded funds: the Russell 1000 iShares, Russell 2000 iShares, Russell 3000 iShares, and the Nasdaq-100 Index tracking stock.
How Much Volume
Officials of both exchanges decline to estimate first-day volume. They say they’re in for the long haul, and first-day numbers can’t signify either success or failure.