The American Stock Exchange next week will begin trading options for 18 software, computer consulting and outsourcing companies expected to be critical in solving the year 2000 problem.
The new de Jager Year 2000 Index is designed to help investors manage the risk associated with computer misreadings of the date change from 1999 to 2000, according to officials at the exchange in New York.
Amex officials developed the de Jager index along with IT consultancy de Jager & Co. Ltd. Trading is scheduled to begin March 18.
"This is the first and only investment vehicle based on market movements surrounding the potentially monumental global problems associated with the simple turn of the century," said Gary Gastineau, senior vice president of product development at Amex. "Investors in [de Jager Index] options have the ability to secure a position during a climate of uncertainty."
Costs associated with addressing the year 2000 problem have been estimated at $1 trillion worldwide.
Among the stocks listed on the index are Electronic Data Systems Corp., Computer Associates International Inc., PeopleSoft Inc., Platinum Technology Inc. and Dun & Bradstreet Corp.
More information is available at the Amex Web site at www.amex.com/.