The Markets January 24, 2009

Options Trading Starts on TARP Index

Whether you think the burgeoning government bailout packages are necessary, a necessary evil – or just plain evil – you now have a way to capitalize on those sentiments.
Reported by
On Friday, Nasdaq OMX Group, Inc. announced plans to launch options trading on its three-week old Government Relief Index, which tracks the performance of companies bailed out by U.S. taxpayers. According to Reuters, options will begin trading today on NASDAQ OMX PHLX, the options platform Nasdaq acquired in its takeover of the Philadelphia Stock Exchange last year.
The Government Relief Index, unveiled on January 8, includes 24 companies that received at least $1 billion from the Troubled Asset Relief Program, or TARP, and other government aid plans. The index began calculation with a value of 1000.00 on January 5, 2009 – it closed Friday with a value of 655.88.
“This index allows taxpayers and other investors to measure the performance of U.S. companies that are participating in the government’s financial relief plan,” said NASDAQ OMX Executive Vice President John Jacobs. “We believe the NASDAQ OMX Government Relief Index will be useful in helping investors evaluate the government’s investments and the impact of the relief plan on the economy during this period of historical significance.”
The new index, calculated in real time across the combined exchanges and disseminated in dollars, is accessible via NASDAQ with the ticker QGRI. A list of the companies included in the index is available at http://finance.yahoo.com/q/cp?s=%5EQGRI
Products January 24, 2009

Two New iShares ETFs Launch

Two new exchange-traded funds (ETFs) sponsored by Barclays Global Investors have been listed on the NASDAQ.
Reported by
Effective today, NASDAQ listed the following ETFs:
  • iShares S&P/Citigroup International Treasury Fund (ticker: IGOV), which, according to the announcement, seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the S&P/Citigroup International Treasury Bond Index Ex-US Index.
  • iShares S&P/Citigroup 1-3 Year International Treasury Bond Fund (ticker: ISHG) seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the S&P/Citigroup International Treasury Bond Index Ex-US 1-3 Year Index.
According to a press release, these are the first two iShares ETFs to list on NASDAQ in 2009, compared to eight iShares ETF listings in 2008 and 5 listings in 2007.
More information about the iShares S&P/Citigroup International Treasury Fund ETF and the iShares S&P/Citigroup 1-3 Year International Treasury Bond Fund ETF is online at http://us.ishares.com/product_info/fund/overview/IGOV.htm?qt=IGOV and http://us.ishares.com/product_info/fund/overview/ISHG.htm?qt=ISHG .

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