NO 241 – MARCH 2013
The Future is Social

WFE Focus March 2013
New products

BME lists warrants on IBEX 35 leverage indices

BME, the Spanish exchanges, has admitted to trading the first ETP linked to the daily performance of the IBEX 35 Triple Leverage Net, IBEX 35 Triple Short, IBEX 35 Leverage Net X5 and IBEX 35 Short X5 indices. They offer triple and quintuple exposure to the daily performance of the IBEX 35 Net Return, incorporating a financing component in order to reach the desired level of leverage.

BM&FBOVESPA launches new interest rate derivatives contracts

On 1 March 2013, BM&FBOVESPA started trading a new financial derivatives contract referenced to the average rate of one-day repurchase agreements, backed by federal securities.

CBOE launches mini-options

On 18 March 2013, the Chicago Board Options Exchange and C2 Options Exchange launched trading in “mini-options” that are one-tenth the size of standard options on five popular stocks and ETFs. Mini-options will offer investors the ability to hedge their positions and trade options more economically than with standard-sized options.

Eurex Exchange lists new index derivatives

Eurex Exchange listed new derivatives on global MSCI indices on 11 March 2013 with futures and options based on the MSCI World, MSCI Europe, MSCI All Countries Asia Pacific ex-Japan and futures on the MSCI Frontier Markets. Other derivatives on regional and country-specific MSCI emerging markets indices will be launched in July this year.

ICE to launch credit index futures contracts

IntercontinentalExchange will introduce four credit index futures contracts based on the Markit CDX and Markit iTraxx indices in May 2013. They are subject to review by the Commodity Futures Trading Commission.

Moscow Exchange adds instruments eligible for inter-contract spread credits

Starting from 13 March 2013, Moscow Exchange expanded the list of its derivatives market’s instruments eligible for an initial margin benefit when opposite positions in these contracts are taken (inter-contract spreads). These new eligible instruments are: an inter-contract spread for opposite positions in the RTS Index futures and RTS Standard Index futures will be improved to add the MICEX Index futures; and an inter-contract spread for opposite positions in the 2-year, 4-year and 6-year government bonds futures will be introduced.

NYSE Liffe lists new derivatives product

NYSE Liffe has extended its suite of derivatives based on MSCI indices to the London Central Order Book and trading started 1 March 2013. It is the first of a range of products linked to MSCI indices that will be made available on the Central Order Book.

Singapore Exchange to introduce Asian currency futures

In the third quarter of 2013, the Singapore Exchange will add Asian foreign exchange futures to its derivatives market, subject to regulatory approval. The proposed FX futures suite will include deliverable and non-deliverable Asian currencies cleared in currencies such as the US dollar, Japanese yen and Singapore dollar. SGX will initially offer four currency pairs: the AUD/USD, AUD/JPY, INR/USD and USD /SGD.

Stock Exchange of Thailand lists ThaiDEX SET100 ETF

On 21 February 2013, the Stock Exchange of Thailand listed the ThaiDEX SET100 ETF. It is an open-end ETF which tracks the movement of the SET100 Index calculated from the stock prices of the top 100 listed companies on SET.

Vienna Stock Exchange starts trading Istanbul traded index futures

Trading in euro futures on the Istanbul Traded Index (IBTX) started on the Vienna Stock Exchange. The joint index of the stock exchanges of Istanbul and Wien has been calculated since September 2012 and enjoys wide international recognition. The underlyings of the IBTX are the prices of the twenty most actively trading shares listed on the Istanbul Stock Exchange.