The fastest growing global index provider has licensed its
Morningstar US Healthcare Index to IMX Health, the first financial
futures exchange focused on the healthcare industry, as the basis
for its first index-based futures product
Morningstar, Inc. (Nasdaq: MORN), a leading provider of
independent investment insights, today announced that the
Intelligent Medicine Exchange (“IMX”), the first futures and
options exchange focused on the healthcare economy, has aligned
with Morningstar Indexes to offer its first futures product. The
IMX exchange was designated by the Commodity Futures Trading
Commission in January of this year.
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Healthcare represents nearly 20% of U.S. GDP but until IMX there
was no dedicated derivatives market specifically focused on
managing healthcare risk.
The new futures product from IMX Health will be based on the
Morningstar US Healthcare Index, which measures the performance of
approximately 170 U.S. public healthcare companies representing
biotechnology, pharmaceuticals, research services, home healthcare,
hospitals, long-term care facilities and medical equipment and
supplies. This market capitalization-weighted index is designed for
optimal tradability and liquidity. Among the largest current
holdings in the index are household names like UnitedHealth, Eli
Lilly, and Johnson & Johnson.
Amelia Furr, global head of sales for Morningstar Indexes, said:
“We are excited to offer a Morningstar index as the basis for
futures on IMX exchange. This new relationship represents another
step in the growth of our index-based derivatives products business
in recent years and is a great example of our expansion to a much
broader ecosystem of global investor audiences.”
Jim Plante, chief executive officer and co-founder of
IMX, said: “The Morningstar U.S. Healthcare Index is the ideal
underlying cash equities index on which to base our first futures
contract. Morningstar Indexes understands the importance of market
representation as well as liquidity and tradability when operating
in index-based futures and recognizes the important balance between
these two requirements when designing an index suited for our
market. We are delighted to have them as our first collaborator, as
we continue to develop our own proprietary indexes that will
complement theirs.”
IMX trading operations are expected to commence in the second
quarter of 2024.
About Morningstar, Inc.
Morningstar, Inc. is a leading provider of independent
investment insights in North America, Europe, Australia, and Asia.
The Company offers an extensive line of products and services for
individual investors, financial advisors, asset managers and
owners, retirement plan providers and sponsors, and institutional
investors in the debt and private capital markets. Morningstar
provides data and research insights on a wide range of investment
offerings, including managed investment products, publicly listed
companies, private capital markets, debt securities, and real-time
global market data.
Morningstar also offers investment management services through
its investment advisory subsidiaries, with approximately $264
billion in assets under advisement and management as of Sept. 30,
2023. The Company operates through wholly- or majority-owned
subsidiaries in 32 countries. For more information, visit
www.morningstar.com/company. Follow Morningstar on Twitter
@MorningstarInc.
About Morningstar Indexes
As the fastest-growing global index provider for the last two
years according to Burton-Taylor International Consulting,
Morningstar Indexes was built to keep up with the evolving needs of
investors—and to be a leading-edge advocate for them. Morningstar's
rich heritage as a transparent, investor-focused leader in data and
research uniquely equips Morningstar Indexes to support
individuals, institutions, wealth managers and advisors in
navigating investment opportunities across all major asset classes,
styles, and strategies. From assessing risk and return with
traditional benchmarks to helping investors effectively incorporate
ESG objectives into their investment process, our range of index
solutions spans an investment landscape as diverse as investors
themselves. We help investors answer today's increasingly complex
questions so that they can more easily reach tomorrow's goals.
Please visit indexes.morningstar.com for more information.
About IMX Health
IMX Health, LLC, also known as Intelligent Medicine Exchange
(IMX), is a subsidiary of holding company IMX, LLC. For more
information, visit www.imxhealth.com.
©2024 Morningstar, Inc. All Rights Reserved. The information,
data, analyses and opinions contained herein (1) include the
proprietary information of Morningstar, (2) may not be copied or
redistributed, (3) do not constitute investment advice offered by
Morningstar, (4) are provided solely for informational purposes and
therefore are not an offer to buy or sell a security, and (5) are
not warranted to be correct, complete or accurate. Morningstar has
not given its consent to be deemed an "expert" under the federal
Securities Act of 1933. Except as otherwise required by law,
Morningstar is not responsible for any trading decisions, damages
or other losses resulting from, or related to, this information,
data, analyses or opinions or their use. References to specific
securities or other investment options should not be considered an
offer (as defined by the Securities and Exchange Act) to purchase
or sell that specific investment. Past performance does not
guarantee future results. Before making any investment decision,
consider if the investment is suitable for you by referencing your
own financial position, investment objectives, and risk profile.
Always consult with your financial advisor before investing.
Indexes are unmanaged and not available for direct investment.
Morningstar indexes are created and maintained by Morningstar, Inc.
Morningstar® is a registered trademark of Morningstar, Inc.
MORN-P
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version on businesswire.com: https://www.businesswire.com/news/home/20240305493160/en/
Media: Morningstar Indexes: Tim Benedict, +1 203
339-1912 or newsroom@morningstar.com
IMX Health: Rich Myers, 347-774-1125 or
rmyers@profileadvisors.com
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