Morgan Stanley Dean Witter
is launching the Morgan Stanley Internet Index
. The MOX will distinguish itself from the widely-followed Morgan Stanley High-Tech Index
(MSH) by investing only in those US companies currently involved in Internet businesses.
The MOX (a) focuses on the leading companies in the nine key Internet sectors, (b) includes B2B companies, and (c) it will be updated on an ongoing basis to include emerging companies.
Stocks in the MOX are selected based on market capitalization, liquidity, borrowability, demonstration of current leadership, business momentum and market share.
, managing director of MSDW said, "The MOX is designed to act as a tool for creating a liquid institutional trading, hedging and investment vehicle and to provide investors with an effective performance index for public Internet companies."
The Index is comprised of 28 actively traded, high market capitalization Internet stocks drawn from nine Internet subsectors -- Internet infrastructure services, Internet infrastructure, Internet consulting/services, Internet portals, Internet vertical
portals, Internet commerce, Internet/B2B software, B2B commerce and multi-sector Internet companies.
The number and types of companies in the Index will change as Internet-related businesses evolve. The Morgan Stanley Internet Index will be published on the American Stock Exchange on March 24th under the ticker symbol MOX. Options will begin trading by April 10th.
Morgan Stanley Dean Witter expects to license the Morgan Stanley Internet Index to third parties for use in the creation of various products linked to the index. State Street Global Advisors
intends to launch an exchange-traded fund tied to the MOX in the near future.
MOX Component Securities
Internet Infrastructure Services
Internet Vertical Portals
Multi-Sector Internet Companies
Internet Capital Group
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