NYSE Liffe expands range of Dutch products with the introduction of futures and options on the AMX-Index
NYSE Liffe, the European derivatives market of NYSE Euronext (NYX), is to introduce futures and options on the AMX-Index, the index for medium sized Dutch companies. AMX-Index futures will be launched on Monday 26 March 2012, followed by trading in AMX-Index options on Tuesday 10 April 2012.
The introduction of AMX-Index futures and options marks the further expansion of NYSE Liffe’s successful range of products within the Amsterdam market. The existing options on individual AMX equities are very popular, and in 2011 more than 5.3 million of them were traded. These products are particularly popular with retail investors, who account for 36% of all turnover in this market.
The AMX-Index includes well known Dutch companies such as Imtech, Nutreco and Vopak and has been one of the best performing mid-cap indices in Europe in recent years. The AMX-Index has risen by 70% since the end of 2008, and in 2011 average daily turnover of mid-cap shares totaled just under 15 million, for a value of EUR107 million. The total value of AMX-Index component shares traded in 2011 was over EUR27 billion.
According to Cees Vermaas, CEO of NYSE Euronext Amsterdam: “NYSE Euronext is committed to supporting medium-sized companies. We continue to do everything we can to help these companies grow by facilitating an environment where medium-sized companies can develop into the large caps of the future. We believe that the introduction of futures and options on the AMX-Index will have a positive influence on the liquidity of these mid-cap securities.”
Ade Cordell (pictured), Executive Director of Equity Derivatives at NYSE Liffe, says: “We are excited about the launch of these new mid-cap index futures and options contracts. For NYSE Liffe, this is the first of a range of new products planned for the Amsterdam derivatives market in 2012.”
The new mid-cap index futures and options expire on the third Friday of the contract month, and are initially offered with one, two and three month maturities.
Last year a total of 150 million index futures and options were traded on NYSE Liffe, of which 25% represented futures and options on the AEX-Index. The AEX-Index options account for 50% of the index option volume on NYSE Liffe. This makes AEX-Index options one of the most successful index options contracts in Europe.