Hong Kong Exchanges and Clearing Limited (HKEx) will introduce Dow Jones Industrial Average (DJIA) Futures for trading on Hong Kong Futures Exchange, a wholly-owned subsidiary of HKEx, on Monday, 6 May.
The DJIA is a widely recognised benchmark for the performance of the US stock market. The price-weighted index comprises 30 US blue-chip stocks traded on the New York Stock Exchange and Nasdaq. As of 28 March 2002, the 30 US stocks in the DJIA had a total market capitalisation of about US$3,453 billion (approximately $26,933 billion) and represented more than a fifth of the investable US stock market's value.
The contract multiplier for DJIA Futures is $10 per index point. Thus, if the index is at 10000, the value of one futures contract is $100,000.
The trading hours for DJIA Futures will be 9:00 am to 12:30 pm and 2:30 pm to 4:15 pm Hong Kong time.
"The Dow Jones Industrial Average is recognised around the world and widely used to track the performance of the US stock market," Kwong Ki-chi, Chief Executive of HKEx, said. "Dow Jones Industrial Average Futures expand our range of international benchmark products and they strengthen Hong Kong's position as an international financial centre."
"The introduction of Dow Jones Industrial Average Futures in Hong Kong will enable investors to respond quickly to corporate announcements or other market events before or after regular US trading hours," Mr Kwong added.
"The Dow Jones Industrial Average is the best known stock market index in the world. With the launch of this futures contract by our partners at the HKEx, investors in all the major regions of the world now have access to exchange products based on the DJIA. We are committed to furthering Asian investor access to additional exchange products based on Dow Jones' index family and are extremely pleased with our entry into Hong Kong," said David Moran, President of Dow Jones Indexes.
About HKEx
HKEx is the publicly listed holding company of The Stock Exchange of Hong Kong Limited, Hong Kong Futures Exchange Limited and their related clearing houses. The company provides a comprehensive range of pre- and post-trade investment services as well as market information services. HKEx's stock exchange is the second largest in Asia and the tenth largest stock exchange in the world. For more information, please visit HKEx's website at www.hkex.com.hk.
About Dow Jones Indexes and Dow Jones & Co, Inc.
Dow Jones Indexes is a premier global provider of investable indexes, including the Dow Jones Averages, the Dow Jones Global Titans 50, the Pan-European Dow Jones STOXX Indexes, the Dow Jones Asian Titans 50, the Dow Jones Sector Titans 30, the Dow Jones Country Titans Indexes. Dow Jones Indexes is part of Dow Jones & Company, which publishes the world's most vital business and financial news and information.
In addition to Dow Jones Indexes, Dow Jones & Company publishes The Wall Street Journal and its international and online editions, Barron's, SmartMoney and the Far Eastern Economic Review magazines and other periodicals, Dow Jones Newswires, and the Ottaway group of community newspapers. Dow Jones is co-owner with Reuters Group of Factiva, and with NBC of the CNBC television operations in Asia and Europe. Dow Jones also provides news content to CNBC and radio stations in the U.S.
Dow Jones & Company is listed on the New York Stock Exchange (NYSE:DJ) and its website is at www.dj.com.