PHILADELPHIA -- The Philadelphia Stock Exchange is looking into creating new indices based on various foreign markets.
Joseph Rizzello, executive vice-president of the exchange, said at a recent meeting in Frankfurt that the exchange was looking at possibilities in Indonesia and Malaysia as well as in South America.
The exchange is talking with those in Hong Kong, Sydney, and Singapore about the possibility of trading currency derivatives.
The exchange also is considering introducing currency options for the Italian lira and the Spanish peseta.
Nearly 60% of the exchange's business now comes from Europe, Mr. Rizzello said, where both companies and pension funds are increasingly using options to manage their currency exposures.
Separately, the exchange is seeking added floor space for its currency products and is expected to decide by next June.
