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.
Mary Meeker, 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
Covad
Exodus
InterNAP
MCI Worldcom
Internet Infrastructure
Cisco
Inktomi
Sun Microsystems
Verisign
Internet Consulting/Services
DoubleClick
Scient
Internet Portals
America Online
Excite@Home
Microsoft
Yahoo!
Internet Vertical Portals
Charles Schwab
CNET
Healtheon
Intuit
Internet Commerce
Amazon.com
eBay
Priceline.com
Internet/B2B Software
Ariba
Oracle
Vignette
B2B Commerce
Ventro
VerticalNet
Multi-Sector Internet Companies
CMGi
Internet Capital Group
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