NYSE Liffe, the derivatives market owned by exchange group NYSE Euronext, plans to introduce futures and options on the AMX-Index, the index for medium-sized Dutch companies.
The AMX-Index is one of Europe’s more successful indices, having risen by 70% since the end of 2008. The total value of AMX-Index component shares traded in 2011 was over €27 billion, while average daily turnover of mid-cap shares totalled €107 million across 15 million shares.
NYSE Liffe will launch its AMX-Index futures on 26 March, followed by AMX-Index options on 10 April. The exchange already offers options on individual AMX equities within the Amsterdam market, which traded 5.3 million during 2011.
“NYSE Euronext is committed to supporting medium-sized companies,” said Cees Vermaas, CEO of NYSE Euronext Amsterdam. “We continue to do everything we can to help these companies to grow. We believe that the introduction of futures and options onto the AMX-Index will have a positive influence on the liquidity of these mid-cap securities.”
NYSE Liffe confirmed that it plans to launch a range of new products in the Amsterdam derivatives market this year, of which the new futures and options are the first. 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.
In November, NYSE introduced measures to make it easier for small and medium enterprises (SMEs) to access capital markets and improve the visibility and liquidity of mid-sized companies listed on its European market. The exchange set up a strategic planning committee to give SMEs greater say in market governance across the B and C sections of its regulated market – which are geared toward the listing of small and medium sized companies – and its NYSE Alternext platform, which is dedicated to SMEs.