ICE Futures U.S. launched the NYSE FANG+™ Index Futures contracts on November 8 designed to offer hedging and exposure to a select group of highly-traded growth stocks of tech-enabled companies. The NYSE FANG+ Index contract is a cash settled quarterly futures contract based on the NYSE FANG+ Index, and offers the capital efficiency of futures.
In the last week, NYSE FANG+ Index futures maintained a tight on screen bid/offer spread and traded over 2,000 contracts.
The NYSE FANG+ Index is equally weighted and includes the five core FANG stocks - Facebook, Apple, Amazon, Netflix and Google (Alphabet) - plus another five actively-traded technology growth stocks - Alibaba, Baidu, NVIDIA, Tesla and Twitter. It is calculated and disseminated through the ICE Data Global Index Feed under the symbol “NYFANG.”
Based on back-tested performance data, the combination of stocks in the NYSE FANG+ Index have returned a 29.1% annualized total return from September 19, 2014 to November 14, 2017, as compared to 15.9% for the NASDAQ-100®, 10.5% for the S&P 500® and 19.1% for the S&P 500® Information Technology Index.
ICE is offering several FANG+ fee reduction programs including a rebate program for ICE Clearing Members. This program provides a viable coordination opportunity for brokers and their respective clearing firms.
NYSE FANG+ Index is a trademark of ICE Data Indices, LLC or its affiliates (“ICE Data”) and has been licensed for use in connection with the NYSE FANG+ Index Futures.
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