Eurex, an international derivatives exchange, plans to extend its offering of futures and options on European size indices provided by Stoxx Ltd. Four futures and four options based on the Euro Stoxx and the three corresponding sub-indices Euro Stoxx Large, Mid and Small will be tradable as from July 28.
Eurex said that the new derivatives are expected to enhance the existing offering of four futures and four options based on the Stoxx Europe 600 Index and the three sub-indices Stoxx Europe Large 200, Stoxx Europe Mid 200 and Stoxx Europe Small 200.
Eurex added that the new futures will be settled in cash. The expiration dates will also be in March, June, September and December. An incentive program for market makers will be in place for several months to support sufficient liquidity from the outset. The new futures will be tradable between 8 a.m. and 10 p.m., and the options between 9 a.m. and 5.30 p.m. CET.
Eurex has been offering derivatives on the four Stoxx Europe 600 indices since 2005.
The Stoxx Europe 600 Index contains 600 companies from 18 European countries. The 600 index constituents are split into three groups of 200 according to their market capitalization, representing the three sub-indices Stoxx Europe Large 200, Mid 200 and Small 200.
Michael Peters, member of the Eurex executive board, said: “By extending our offering to include new Euro-denominated index derivatives, we will create additional investment and hedging opportunities for clients who want to gain exposure without currency risks on the basis of compact underlyings. The new Euro Stoxx index products will also complement our highly liquid future on the European blue-chip index Euro Stoxx 50.”