NASDAQ announces annual re-ranking of NASDAQ-100 Index
Sunday, 14 December 2008
NEW YORK, Dec 13: The NASDAQ OMX Group, Inc. announced Friday the annual re-ranking of the NASDAQ-100 Index(r), effective with the market opens Monday, December 22, 2008, according to Internet.
"The NASDAQ-100 Index is a globally recognised brand that includes 100 of the world's most dynamic non-financial companies," said NASDAQ OMX Executive Vice President John L Jacobs.
"Through an objective, transparent re-ranking process, the NASDAQ-100 Index continues its evolution as a relevant, investable benchmark. The NASDAQ-100 represents a diverse range companies and provides investors with a key measure of the performance of the world's leading large-cap growth companies."
The NASDAQ-100 Index is composed of the 100 largest non-financial stocks on The NASDAQ Stock Market(r) and dates to January 1985, when it was launched along with the NASDAQ Financial-100 Index(r), which is comprised of the 100 largest financial stocks on NASDAQ(r).
These indexes were originally designed to segment NASDAQ into two major industry groups to support media coverage and to act as benchmarks for financial products such as options, futures, and funds.
The NASDAQ-100 is re-ranked each year in December, timed to coincide with the quadruple witch expiration Friday of the quarter.
On a cumulative price return basis, the NASDAQ-100 Index has returned 797 per cent since inception, although past performance is not indicative of future performance.
The NASDAQ-100 Index is the basis of the PowerShares QQQ Trust, which aims to provide investment results that, before expenses, correspond with the NASDAQ-100 Index performance.
In addition, options, futures and structured products based on the NASDAQ-100 Index and the PowerShares QQQ Trust trade on various exchanges.
"The NASDAQ-100 Index is a globally recognised brand that includes 100 of the world's most dynamic non-financial companies," said NASDAQ OMX Executive Vice President John L Jacobs.
"Through an objective, transparent re-ranking process, the NASDAQ-100 Index continues its evolution as a relevant, investable benchmark. The NASDAQ-100 represents a diverse range companies and provides investors with a key measure of the performance of the world's leading large-cap growth companies."
The NASDAQ-100 Index is composed of the 100 largest non-financial stocks on The NASDAQ Stock Market(r) and dates to January 1985, when it was launched along with the NASDAQ Financial-100 Index(r), which is comprised of the 100 largest financial stocks on NASDAQ(r).
These indexes were originally designed to segment NASDAQ into two major industry groups to support media coverage and to act as benchmarks for financial products such as options, futures, and funds.
The NASDAQ-100 is re-ranked each year in December, timed to coincide with the quadruple witch expiration Friday of the quarter.
On a cumulative price return basis, the NASDAQ-100 Index has returned 797 per cent since inception, although past performance is not indicative of future performance.
The NASDAQ-100 Index is the basis of the PowerShares QQQ Trust, which aims to provide investment results that, before expenses, correspond with the NASDAQ-100 Index performance.
In addition, options, futures and structured products based on the NASDAQ-100 Index and the PowerShares QQQ Trust trade on various exchanges.