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ISE sector index futures to begin trading at US Futures Exchange

The US Futures Exchange (USFE) is to launch its initial derivatives products based on select International Securities Exchange (ISE) Sector Indexes on September 14, 2007. 

USFE's first products in conjunction with ISE include futures on the ISE Water Index (Ticker: HHO), ISE Homebuilders Index (Ticker: RUF), ISE Gold Index (Ticker: HVY), ISE-Revere Natural Gas Index (Ticker: FUM), and the ISE SINdex (Ticker: SIN), composed of alcohol, tobacco and gaming companies. 
'These new contracts allow investors to take a position on the performance of a defined industry or hedge their equity holdings to a sector benchmark,' says Satish Nandapurkar, CEO of USFE.  'They also highlight the demand for specialized derivatives and USFE's continuing commitment to offer unique and innovative products to brokers and customers.'
Credit Suisse and Tradelink are among the firms that will provide liquidity for the new markets.  Information detailing index composition can be found on ISE's website,  ISE currently trades options on the indexes.
Under the previously announced, multi-year agreement, USFE and ISE will co-market the new derivative products to their respective membership bases. The contracts will trade as traditional equity index futures with quarterly expiries. 

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