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Intercontinental Exchange launches NYSE FANG+TM Index

First Published 26th September 2017

ICE Futures U.S. plans to launch a quarterly futures contract based on the NYSE FANG+ Index, subject to regulatory review

NYSE FANG+TM Index is an index that provides exposure to a group of highly-traded growth stocks of technology and tech-enabled companies.

The NYSE FANG+ Index is equal-weighted and will initially consist of the five core FANG stocks, including Facebook, Apple, Amazon, Netflix and Alphabet's Google, plus another five actively-traded technology growth stocks -- Alibaba, Baidu, NVIDIA, Tesla and Twitter. Starting immediately, the real-time NYSE FANG+ Index will be calculated and disseminated through the NYSE Global Index Feed under the symbol "NYFANG."

The launch of the futures contract on ICE Futures U.S. is designed to offer hedging of and exposure to the NYSE FANG+ Index with the capital efficiency of futures, and will complement the exchange's equity index futures complex.

"Given their size, performance and innovation, the FANG stocks are among the most widely traded stocks and we're pleased to offer a capital efficient means of accessing and hedging these growth stocks in a cost-effective way," said Trabue Bland, President of ICE Futures U.S. "We are leveraging our product development, index solutions and global feeds to develop, distribute and trade this new index future."

Based on back-tested performance data, the combination of stocks in the NYSE FANG+ Index have returned a 28.44% annualized total return from September 19, 2014 to September 15, 2017, as compared to 14.89% for the NASDAQ-100®, 9.86% for the S&P 500® and 16.80% for the S&P 500® Information Technology Index.