UNITED STATES: ICE Launches Biotechnology Index Futures and Semiconductor Index Futures Contracts

Tuesday March 22 2022

On 21^st March 2022, Intercontinental Exchange, Inc. (NYSE:ICE) announced that it had launched two new thematic equity index futures contracts: the ICE Biotechnology Gross Total Return (GTR) Index and the ICE Semiconductor GTR Index futures contracts.

The ICE Biotechnology GTR Index futures contract is cash-settled with a notional value equal to $100 times the ICE Biotechnology Index closing gross total return index value (Index symbol: ICEBIOT). The ICE Semiconductor GTR Index futures contract is also cash-settled and has a notional value equal to $50 times the ICE Semiconductor Index closing gross total return index value (Index symbol: ICESEMIT). Both contracts trade on ICE Futures U.S. The ICE Futures U.S. contract symbols are IUT for the ICE Biotechnology GTR Index futures and IUS for the ICE Semiconductor GTR Index futures contracts.

Both the ICE Biotechnology Index and the ICE Semiconductor Index are rules-based, modified float-adjusted market capitalization-weighted indices that track the performance of qualifying U.S. listed biotechnology companies and the thirty largest U.S. listed semiconductor companies respectively. These indices comprise stocks listed on major U.S. exchanges and are constructed using sector and industry classifications from the ICE Uniform Sector Classification Schema.

In addition to these futures contracts, the indices serve as the benchmark for investment products. In June 2021, the iShares Biotechnology­­­ ETF (IBB) and the iShares Semiconductor ETF (SOXX) began tracking the ICE Biotechnology Index and the ICE Semiconductor Index, respectively. To learn more about ICE’s indices, please visit: https://www.theice.com/market-data/indices.

Click on the above link for further information