The International Securities Exchange (ISE) has begun trading options on four FocusShares exchange traded funds (ETFs) that track the performance of four of ISE’s proprietary indexes. The four ETFs are: FocusShares ISE-CCM Homeland Security Index Fund, FocusShares ISE SINdex Fund, FocusShares ISE Homebuilders Index Fund and FocusShares ISE-Revere Wal- Mart Supplier Index Fund. Timber Hill serves as the primary market maker for all four of these new options.
"Through our partnership with FocusShares, we are providing investors with exciting new products that enable them to trade their views on specialised and emerging market sectors," says Kris Monaco, ISE’s director of new product development.
Erik Liik, CEO of FocusShares, adds, "ISE’s innovative indexes include only companies that derive a substantial portion of their revenues from a specific industry. The FocusShares ETFs based on these benchmarks provide investors with targeted exposure to each specific sector, and as our products gain momentum we are pleased that investors can now trade options on our ETFs as part of their trading strategy."
The FocusShares ETFs that the options are based on started trading on NYSE-Arca on 30 November 2007.