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The Utilities HOLDRS will issue Depositary Receipts called Utilities HOLDRS representing an undivided beneficial ownership in the common stock of a group of specified companies that are involved in various segments of the utilities industry. The Bank of New York is the trustee. Utilities HOLDRS may be acquired, held or transferred in a round-lot amount of 100 Utilities HOLDRS or round-lot multiples. Utilities HOLDRS are separate from the underlying deposited common stocks that are represented by the Utilities HOLDRS. The Utilities HOLDRS Trust is not a registered investment company under the Investment Company Act of1940.
Exchange Traded Funds (ETFs) & iShares, Options & Futures Trading / Futures Contracts
Dow Jones Utilities Options Contracts DUX is the symbol for options based on the Dow Jones Utilities index (DUX, DJT, DU/DR). The DUX is a price-weighted index of 20 of the largest, most liquid NYSE and NASDAQ transportation related stocks. The Dow Jones Utilities index option contract is based on 1/100th (one-one-hundredth) of the current value of the Dow Jones Utilities index. So, for example, when DUX is at 250, the Dow Jones Transports level will be 2.5. The CBOT Dow Jones Utilities index futures trading contract allows a broad sector of market participants to hedge commodity and inflation exposure and achieve portfolio diversification through a standardized futures trading contract. Designed to be a highly liquid and diversified benchmark for commodities as an asset class, the Dow Jones Utilities index is a unique product that focuses on the utilities and energy sector of the US economy. Unlike other commodity indexes, the Dow Jones Utilities index index emphasizes the economic significance of its components. Calculation of the index relies primarily on liquidity data, as well as production data, to determine its component weightings.
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