Intercontinental Exchange (NYSE: ICE), a leading operator of global exchanges and clearing houses and provider of mortgage technology, data and listing services, today announced it will change the name of the NYSE FANG+™ Index Futures Contract to reflect plans to change the contract size, which will lower the notional value of the contract. The new name will be the MICRO NYSE FANG+™ Index Futures Contract.

ICE plans to reduce the multiplier for the contract, which determines the notional value of each futures contract, to $5 times the index from the current $50, effective September 28, 2020. With this change, the notional value of each futures contract will be approximately $25,000, or one tenth the current size. This change will allow the contract to better match the needs of a wide range of investors.

MICRO NYSE FANG+™ Index futures are based on the NYSE FANG+™ Index, administered by ICE Data Indices, LLC, and are designed to offer hedging, exposure and the capital efficiency of futures to a select group of highly traded growth stocks of tech-enabled companies. The NYSE FANG+™ Index has had a cumulative total return of over 269% since the start of 2017 and a return of over 100% since bottoming out in March 2020*.

The NYSE FANG+™ Index is equally weighted and includes the five core FAANG stocks - Facebook, Apple, Amazon, Netflix and Google (Alphabet) - plus Tesla and four other actively-traded technology growth stocks - Alibaba, Baidu, NVIDIA and Twitter. It is calculated and disseminated through the ICE Data Consolidated Feed under the symbol “NYFANG.”

For more information about MICRO NYSE FANG+™ Index Futures, please visit: https://www.theice.com/fangplus.

*Returns as of September 9, 2020. The NYSE FANG+™ Index launched on 09/26/2017. Prior performance (09/19/2014 to 09/25/2017) is based upon backtested index calculations.