Euronext has expanded its Spotlight options offering with options on GrandVision. The new products follow the company’s successful IPO on Euronext Amsterdam in February and are available for trading with immediate effect.
The contracts will have short-term maturities of one, two and three months.
In addition, Euronext intends to promote the existing Spotlight option class Altice SA to the standard options segment as of 1 May 2015. The lifetime of these contracts will therefore be extended to 12 months. On 1 May, the September 2015, December 2015 and March 2016 expiry months will be added. The extension to longer maturities follows the lively trading in this option class. Since the successful launch of the Spotlight options on Altice SA in July 2014 almost 23,000 contracts have been traded.
Spotlight options are a special segment on the derivatives markets of Euronext Amsterdam and Euronext Brussels, dedicated to the development of new option classes requested by market participants. The Spotlight options on Euronext-listed underlying values have short-term maturities. The added liquidity and visibility will allow the classes to grow to become mature option classes. If these option classes take root, additional maturities will be introduced.
Adam Rose, Head of Financial Derivatives at Euronext, says: “It’s great to announce the expansion of our Spotlight segment with GrandVision options as well as the additional maturities of the Altice contracts, providing investors with new trading opportunities. We’re constantly adapting our product offering to the needs of the market, in order to serve our customers in the best possible way. We will keep on increasing this segment by introducing Spotlight options on other geographies and asset classes, responding to market demand.”
The Spotlight segment of Euronext now has 15 option classes available for trading. Spotlight options give more visibility to underlying assets such as newly listed stocks and medium and smaller sized companies through a unique combination of liquidity provider support and promotion by sponsoring brokers. Liquidity in the GrandVision options will be supported by Caerus and Susquehanna International Securities who will act as a Liquidity Providers.
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