Trading on the Value Line stock index futures at the Kansas City Board of Trade began on Feb. 24, 1982. The Value line stock index contract for the first time extended to stockholders the same price protection principles used by agricultural interests for more than a century. The Value Line contract was also the first to bring together the investment opportunities of the stock market and the leverage of the futures market. Specifically, the Value Line Index is the broadiest-based of the major stock indexes with futures contracts. Its approximately 1,650 stocks are about 83% industrials, 9% utilities, 5% banks or savings and loans and 3% insurance stocks. About 70% of Value line issues are traded on the New York Stock Exchange, 5% on the American Stock Exchange, 22% on the NASDAQ and 3% on Canadian exchanges. Virtually all S&P 500 and all 30 Dow industrial stocks are included in the Value Line Index. Each Value Line Futures Contract is equal to $500 times the level of the Value Line Index.