ICE Introduces Russell 1000 Growth and Value Indexes

On May 3, 2010, ICE Futures U.S. will introduce the Russell 1000^® Growth Mini and Russell 1000^® Value Mini Index futures contracts.

As comprehensive and unbiased barometers of the large-capitalization growth and value segments of the U.S. equity universe, the Russell 1000 Growth and Russell 1000 Value Indexes are widely used by fund managers and institutional investors specializing in style investing. Both indexes are comprised entirely of members of the benchmark Russell 1000^® Index, which includes the largest thousand companies by market capitalization and represents approximately 92% of the investable U.S. equity market.

The Russell methodology allows companies with both growth and value characteristics to be included proportionally in a growth-style or value-style index — or both. As of March 2010, there were 621 stocks in the Russell 1000 Growth Index and 674 issues in the Russell 1000 Value Index. 295 stocks were included in both indexes. Proportional representation provides an unbiased and accurate depiction of the market, and allows the Russell 1000 Growth and Russell 1000 Value Indexes to function as a proxy for asset allocation purposes and an efficient vehicle for passive investment strategies.

Introduced in 1984, the Russell 1000 and the small- cap Russell 2000^® were the first float-adjusted equity indexes. Most stock indexes are based on market-capitalization, where the number of shares outstanding are multiplied by the current share price to determine a company's weighting in an index. Float-adjustment refines market capitalization weighting by counting shares available for purchase in public markets, rather than total shares outstanding. Because stocks with higher float and more liquidity are more heavily weighted, float-adjusted equity indexes more accurately reflect the investment opportunity in the market. All Russell indexes are reconstituted annually at the end of June to ensure accurate representation of the investable equity marketplace and to avoid style slippage. The 2010 reconstitution of the Russell Indexes will take place after the market closes on June 25, 2010.

Because of Russell Investments' leadership in developing style indexes that reflect relevant market segments, more than 97% of institutional U.S. style assets that use a benchmark are benchmarked to Russell products. Futures and options on futures based on Russell Investment’s industry-leading U.S. equity indexes, including the Russell 1000 and Russell 2000^® Indexes, have traded exclusively on ICE Futures U.S. since September 2008.

Information about Russell indexes, including construction methodologies and the top ten equities by capitalization in the Russell style indexes, is available at the Russell website. Contract specifications and an FAQ about the Russell 1000 Growth and Russell 1000 Value Index futures contracts are available on the ICE Russell Index homepage.