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Philadelphia Stock Exchange launches specialised sector indices

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The Philadelphia Stock Exchange has launched four new specialized sector indices, the PHLX Medical Device Index, PHLX Retail Index, PHLX Chemicals Index and PHLX Sports Index.
The Philadelphia Stock Exchange has launched four new specialized sector indices, the PHLX Medical Device Index, PHLX Retail Index, PHLX Chemicals Index and PHLX Sports Index.

The Medical Device Index is an equal-dollar weighted index composed of 17 companies engaged in the development and manufacturing of device-based therapies and surgical devices, while the Retail Index is composed of 30 companies engaged in general and specialty merchandise consumer sales, primarily in the US.

The Chemicals Index comprises 30 components engaged in the manufacturing and processing of specialty chemicals for agricultural, industrial and consumer use, and the Sports Index is made up of 13 companies engaged in consumer sports products, entertainment and fitness.

‘The expansion of the PHLX Sector Index family offers innovative benchmark indices for the creation of trading and investment products,’ says Daniel R. Carrigan, the exchange’s vice-president for new product development. ‘The PHLX Sports Index, for example, typifies our efforts to carve out new equity sectors in order to track existing and emerging companies.’

The Philadelphia Stock Exchange, founded in 1790, trades more than 7,000 stocks, 2,520 equity options, 17 sectors index options and currency options.

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