NEW YORK, Sept. 25, 2007 (PRIME NEWSWIRE) -- Dow Jones Indexes, a leading global index provider, today launched 3-month forward versions of the Dow Jones-AIG Commodity Sector Sub-indexes and the Dow Jones-AIG Single Commodity Sub-Indexes. Dow Jones jointly markets the Dow Jones-AIG Commodity Index(sm) (DJ-AIGCI(sm)) with AIG Financial Products Corp. (AIG-FP), a leader in financial derivatives products and a wholly-owned subsidiary of American International Group, Inc. (AIG).
The new forward indexes have been licensed to ETF Securities Limited, a London-based provider of exchange-traded commodities (ETCs).
"The new Dow Jones-AIG Forward Sector and Single Commodity Sub-Indexes are designed to provide performance measurement of longer-dated futures contracts of individual commodities or by commodity sector," said Michael A. Petronella, president of Dow Jones Indexes. "As commodities as an asset class continue to enjoy widespread popularity among investors, it is important to deliver innovative benchmarks with which market participants can gauge their commodities exposure."
"Dow Jones and AIG-FP have a strong track record as innovators in developing new variations of the Dow Jones-AIG Commodity Index," said Joseph Cassano, President, AIG Financial Products Corp. "The commodity investment marketplace continues to develop and expand, and we believe the DJ-AIGCI will continue to serve as a premier and reliable benchmark for the commodities markets."
The new sub-indexes will provide market participants with benchmarks to track commodity investments in longer-dated commodity futures. With the expansion of commodity futures markets in recent years, trading volume in further-dated contracts has generally increased.
The new Dow Jones-AIG Commodity Forward Indexes are constructed according to the rules of the DJ-AIGCI and utilize futures contracts with maturities falling later than the futures contracts comprising the standard DJ-AIGCI. For example, in September 2007 the DJ-AIG 3-Month Forward Crude Oil Sub-Index(sm) includes those commodity futures contracts that are scheduled to be included in the standard DJ-AIG Crude Oil Sub-Index(sm) in December. Excess and total return versions of each of the new sub-indexes are available.
The new sub-indexes join the 48 other DJ-AIGCI related indexes and sub-indexes calculated daily by Dow Jones Indexes and AIG Financial Products Corp. The DJ-AIG Commodity Index 1 Month Forward(sm), the DJ-AIG Commodity Index 2 Month Forward(sm), and the DJ-AIG Commodity Index 3 Month Forward(sm), which are the forward versions of the Dow Jones-AIG Commodity Index(sm), were launched in July 2006.
The Dow Jones-AIG Commodity Index, a diversified and highly liquid benchmark for the commodities markets, is composed of futures contracts on 19 physical commodities and was introduced in 1998. As of June 30, 2007, there was approximately $38 billion invested in financial products tracking the DJ-AIGCI on a global basis. Index methodology and futures contracts used to calculate the index are published in the DJ-AIGCI Handbook. The handbook can be requested via www.djindexes.com or www.aigfp.com.
Journalists may e-mail questions regarding this press release to PR-Indexes@dowjones.com or contact Dow Jones Indexes/STOXX press office:
New York: +1-212-597-5720 Frankfurt: +49-69-29-725-290
Note to Editors:
About Dow Jones Indexes
A full-service index provider, Dow Jones Indexes develops, maintains and licenses indexes for use as benchmarks and as the basis of investment products. Best known for the Dow Jones Industrial Average, Dow Jones Indexes also is co-owner of the Dow Jones STOXX indexes, the world's leading pan-European indexes, and together with Wilshire Associates, provides the Dow Jones Wilshire Global Index family, which is anchored by the Dow Jones Wilshire 5000 and covers more than 12,000 securities in 59 markets. Beyond equity indexes, Dow Jones Indexes maintains a number of alternative indexes, including measures of the hedge fund and commodity markets. Dow Jones indexes are maintained according to clear, unbiased and systematic methodologies that are fully integrated within index families. www.djindexes.com
Dow Jones Indexes is part of Dow Jones & Company (NYSE:DJ) (dowjones.com), which is a leading provider of global business news and information services. Its Consumer Media Group publishes The Wall Street Journal, Barron's, MarketWatch.com, eFinancialNews and the Far Eastern Economic Review. Its Enterprise Media Group includes Dow Jones Newswires, Factiva, Dow Jones Client Solutions, Dow Jones Indexes and Dow Jones Financial Information Services. Its Local Media Group operates community-based information franchises. Dow Jones owns 50% of SmartMoney and 33% of STOXX Ltd. and provides news content to CNBC and radio stations in the U.S.
The Dow Jones Indexes logo is available at http://www.primenewswire.com/newsroom/prs/?pkgid=1289