Launch on 4 October 2010 / New listings are latest Eurex product
offering targeting the Asia-Pacific region
Bombay Stock Exchange (BSE), the Indian securities market operator
and Eurex, the international derivatives exchange, today announced
that they will launch futures and options on the SENSEX, the blue-
chip index of the BSE, on 4 October 2010 at Eurex. The SENSEX Index
tracks the daily performance of 30 of the largest and most actively
traded companies listed on the Bombay Stock Exchange. It is a value-
weighted index that represents approximately half of the float-
adjusted market capitalization of all stocks traded on BSE.
"We are committed to offering our members a diverse and truly global
product offering across key geographies and asset classes. The
SENSEX is the most widely recognized gauge for the Indian market and
complements our suite of leading equity index derivatives", said
Peter Reitz, member of the Eurex Executive Board. "By introducing
futures and options on this prominent benchmark, we also will
advance our efforts in the Asia-Pacific region by creating trading
opportunities for customers seeking access to this fast-growing
emerging economy."
Madhu Kannan, Managing Director and CEO of the BSE, commented, "We
are very pleased to be working with Eurex to develop a broader
international investor base focused on the SENSEX. The SENSEX will
now be trading during a larger portion of the global trading day,
which will increase its appeal and value. Moreover, we see the
growth of overseas liquidity in the SENSEX as helping us to broaden
and deepen the market for SENSEX products within India."
The new contracts will be denominated in US dollars and settled in
cash. The futures will have maturity dates of the three nearest
months, and the following March, June, September and December. Two
market-making schemes will be in effect until the end of December
2011 â one to support liquidity during the overlap of Indian and
European trading hours and one for European market hours. The
expiration dates of the options will be in the three nearest
calendar months, the next three quarters and two next semi-annual
expiries.
offering targeting the Asia-Pacific region
Bombay Stock Exchange (BSE), the Indian securities market operator
and Eurex, the international derivatives exchange, today announced
that they will launch futures and options on the SENSEX, the blue-
chip index of the BSE, on 4 October 2010 at Eurex. The SENSEX Index
tracks the daily performance of 30 of the largest and most actively
traded companies listed on the Bombay Stock Exchange. It is a value-
weighted index that represents approximately half of the float-
adjusted market capitalization of all stocks traded on BSE.
"We are committed to offering our members a diverse and truly global
product offering across key geographies and asset classes. The
SENSEX is the most widely recognized gauge for the Indian market and
complements our suite of leading equity index derivatives", said
Peter Reitz, member of the Eurex Executive Board. "By introducing
futures and options on this prominent benchmark, we also will
advance our efforts in the Asia-Pacific region by creating trading
opportunities for customers seeking access to this fast-growing
emerging economy."
Madhu Kannan, Managing Director and CEO of the BSE, commented, "We
are very pleased to be working with Eurex to develop a broader
international investor base focused on the SENSEX. The SENSEX will
now be trading during a larger portion of the global trading day,
which will increase its appeal and value. Moreover, we see the
growth of overseas liquidity in the SENSEX as helping us to broaden
and deepen the market for SENSEX products within India."
The new contracts will be denominated in US dollars and settled in
cash. The futures will have maturity dates of the three nearest
months, and the following March, June, September and December. Two
market-making schemes will be in effect until the end of December
2011 â one to support liquidity during the overlap of Indian and
European trading hours and one for European market hours. The
expiration dates of the options will be in the three nearest
calendar months, the next three quarters and two next semi-annual
expiries.
