IDEM: 13 new pan-European stock futures

Starting 20^TH December, 13 new Pan-European Stock Futures will be traded on IDEM

IDEM, Borsa Italiana derivatives market, carries on its process of enlargement of products negotiable on the new SOLA® platform, introducing as from 20^th December, 13 new pan-European stock futures, confirming its international vocation.

The newly available pan-European futures’ underlying are: Ahold Kon, Akzo Nobel, Banco Bilbao Vizcaya Argentaria, Banco Santander, Heineken Nv, Iberdrola Sa, ING Groep, Koninklijke Kpn Nv, Philips, Repsol, Royal Dutch Shell Plc(A), Telefonica, Unilever.

Other pan-European stock futures may be admitted to trading, at the request of the operators, but only on condition that they belong to primary financial indices.

The new stock futures are cash settled; in order to meet costumers’ needs, eventually, it will be possible also to bring in physical settled pan-European stock futures.

Tradable expiries will be six: four quarterly (March, June, September and December) and two nearest monthly terms, as it is for FTSE MIB stocks futures. Expiry date coincides with the third Friday of the expiry month and trading ends at 5.40 p.m.

Timetable and procedures for trading are those provided on IDEM, continuous trading runs from 9:00 am to 5:40 pm.

Also similarly to what expected for existing traded futures, the liquidity of the new financial instruments will be assured by the presence of Primary Market Makers and Specialists. In particular, MM are Banca IMI, operating on Dutch stock futures, and BPN Paribas – Milan Branch, operating on Spanish stock futures.

Starting from 20^th December, also seven new Italian stock futures (Azimut Holding, Banca Carige, Benetton Group, Cattolica Assicurazioni, Enel Green Power, Recordati, Tod’s) and two new stock options on Saras and Enel Green Power will be available for trading on IDEM. Again, the liquidity of the new financial instruments will be assured by the presence of Primary Market Makers. Aletti & C. Banca di Investimento Mobiliare will operate on the new Italian stock futures, Banca IMI and The Kyte Group on the new italian stock options.

Nicolas Bertrand, Head of Equity and Derivatives Markets of London Stock Exchange Group, said: “Thanks to the introduction of these new derivatives on single stocks, IDEM innovates and extends the offer to its costumers, who will have at their disposal 45 stock options and 67 stock futures contracts, 54 of whom on italian stocks and 14 on foreign stocks. These add to the already existing stock futures and stock options on FTSE MIB and futures on FTSE MIB dividend”.

As for all traded instruments on IDEM, CC&G will provide its CCP services to all these new contracts.

Anna Mascioni           Media Relations +39 02 72426.211

                                        media.relations@borsaitaliana.it 

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