Russell Investments launched a new index in December. The Russell UK Mid 150 Index is the first U.K.-dedicated index from the U.S.-based provider.
It is made up of 150 stocks from the midcap sector listed on the U.K. stock exchanges and denominated in sterling. The stocks are then all screened on a monthly basis according to their capacity to be traded in volume, which means that the index as a whole can be easily and quickly traded within an index-based portfolio.
Russell Indexes has also been working with NYSE Liffe on the development of futures based on the Russell UK Mid 150 Index. They are expected to be made available for trading on Bclear, the exchange’s trade administration and clearing service.