KBW Bank Index

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The cash-settled KBW Bank Index (BKX), traded on the International Securities Exchange and PHLX (BKXSM is a service mark of the Philadelphia Stock Exchange, Inc.), is a float-adjusted, modified market-cap index comprising 24 leading national money center banks and thrifts used used to hedge exposure to this sector.

A modified-capitalization-weighted index, it is evaluated at least annually by Keefe, Bruyette & Woods (KBW) to assure that the composition is highly representative of the banking industry. KBW is an institutionally oriented securities broker/dealer and full service investment bank that specializes in the financial services sector.

The BKX Bank Index captures over $1.2-trillion market capitalization of the U.S. banking industry. Citigroup, Bank of America, J.P. Morgan Chase, Wells Fargo, Wachovia, and the Bank of New York Mellon Corp. are a few of the banks covered in the Index.

Full ISE specifications: [[1]]

Full PHLX specifications: [[2]]


International Securities Exchange [[3]]

Philadelphia Stock Exchange [[4]]

Keefe, Bruyette & Woods [[5]]