MAYOR GIULIANI RINGS OPENING BELL AT AMERICAN STOCK EXCHANGE TO HELP LAUNCH DOW JONES' DIAMONDS
Proclaims January 20th As Dow Jones Day In New York City
Mayor Rudolph W. Giuliani today rang the opening bell at the American Stock Exchange and proclaimed January 20th as Dow Jones Day in New York City, helping Amex and Dow Jones launch DIAMONDS, a security that, for the first time, allows investors to buy and sell shares of a portfolio representing all 30 stocks in the Dow Industrial Average (DJIA).
Also in attendance were Richard F. Syron, Amex Chairman and Chief Executive Officer; Peter R. Kann, Chairman and Chief Executive Officer of Dow Jones & Company; and Joseph B. Stefanelli, Executive Vice-President of Derivative Securities at the Amex.
"This is a historic day for investors in New York City, and the rest of the nation," Mayor Giuliani said. "Today, the world’s most important market index is providing tens of thousands of potential investors with the opportunity to have a stake in the Dow.
"It used to be the case that for investors to become full participants in the Dow, they would have to buy shares of the common stocks of all 30 companies represented. Starting today, in just one simple transaction, an investor can buy one unit of DIAMONDS and get proportional shares of all 30 companies. What this means is that more and more people will have the opportunity to claim a stake in our country’s best companies. So it’s with great pleasure that I launch DIAMONDS, right here in New York City, the Financial Capital of the World," the Mayor concluded.
Established in 1896, the Dow Jones is America’s oldest continuing market index and represents 30 of the nation’s leading companies.
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