Russell Investment Group will add 27 recent IPOs to its broad market Russell 3000 index after the stock market closes on Dec. 21. Two of the IPOs — Clear Channel Outdoor Holdings Inc. and CBOT Holdings Inc. — will also be added to the large-cap Russell 1000 index. The additions include seven firms in the financial services sector, six in technology and four in health care.
"Bringing the CBOT in really reflects the fact that this new sector is growing up before our eyes within the financial services industry," said Kelly Haughton, strategic director of Russell Indexes, noting that Chicago Mercantile Holdings Inc., parent of the Chicago Mercantile Exchange, has been a strong stock since going public in 2002.
In addition to the 27 stocks being added to the Russell 3000, 25 IPOs will be added to the Russell Microcap index. Mr. Haughton said there is some overlap between the IPOs going into the 3000 and the microcap.
The complete list of IPOs scheduled to be added is available at www.russell.com/us/indexes/us/ipos.asp.