Eurex will launch single stock futures on leading Canadian companies on 25 November 2010.
The new listings reflect customer demand for expanded offerings in the rapidly growing equity derivatives segment.
The futures contracts will be based on shares of Bank of Montreal, BCE, Canadian Imperial Bank of Commerce and Sun Life Financial.
“Single stock futures have quickly become one of our fastest growing product segments. The contracts give customers greater flexibility in executing trading strategies in more than 750 names in Europe and internationally. The new Canadian listings will provide members with further trading opportunities in the North American market,” says Michael Peters, member of the Eurex executive board.
Eurex first introduced single stock futures on companies included in the DAX, Euro Stoxx 50 and SMI indices in October 2005. Since then the product suite has expanded to include stocks in additional European countries, the US, and emerging markets Russia and Brazil.
The specifications of the new contracts will follow the US listings. Each contract represents 100 shares denominated in US dollar and is cash settled. They will have expiry dates up to three years for the next 13 calendar months, plus the two following annual contract months out of the December cycle. The Eurex Block Trade facility also is allowed for the Canadian single stock futures.