Euronext Launches Southern European Banks Index NR

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Amsterdam, 11 September 2014: Euronext today announced the launch of the Euronext® Southern European Banks Index NR(SEBI), an index reflecting the banking sector of Southern Europe. The index will serve as the  underlying for new index futures which will be available for trading on Euronext Amsterdam as of 2nd October, followed by the launch of index options on 9th October. Euronext is the first exchange to provide investors with the opportunity to trade derivatives on an index based on the banking sector across Southern Europe.

With the new products Euronext is responding to recent market demand following volatility in this region. The Euronext Southern European Banks Index NR (Net Return) is initially composed of 20 stocks from Spain, Portugal, Italy and France from the financial sector (excluding insurance companies). Over recent years volatility in this sector has been high due to economic factors, and is expected to continue through 2014 as banks develop their business models ahead of the European Central Bank’s stress test in October/November.

The index is composed of financial companies with a market capitalisation between EUR 1 billion and EUR 25 billion. Three variants will be launched, besides the mentioned Net Return, a Price Return and a Gross Return variant will be published. For a complete overview of the constituents, see attached document.¹

Adam Rose, Head of Financial Derivatives at Euronext, said: “It is a great pleasure to announce these new products today, as part of our strategy to grow our derivatives business. This index is the first to track institutions at the heart of the financial industry in Southern Europe, providing investors the opportunity to hedge or trade equity movements in this sector. This initiative illustrates our efforts and commitment to work closely with our clients and members in order to quickly respond to the market’s needs.”

The new index futures (ticker symbol: FSB) will expire on the third Friday of the contract month, and are initially offered with three, six and nine month maturities. The new, European-style index options (ticker symbol: OSB) will expire on the third Friday of the contract month and will have maturities up to nine months.

The index is an addition to Euronext’ broad range of indices that are managed and calculated by Euronext, which totals 430 indices (third-party indices included). Index derivatives have proven to be very popular. Of the total turnover in derivatives products on Euronext’s markets, 44% accounts for index options and futures². The new SEBI index futures and options will further grow Euronext’s existing derivatives offering, and build on this year’s launch of an enhanced stock futures franchise and the launch of Spotlight options. In total, Euronext now offers almost 500 product classes in derivatives.

CONTACTS EURONEXT

Caroline Nico (Europe) :  +33 1 49 27 10 74; cnico@euronext.com   

Alice Jentink (Amsterdam) : +31 20 550 4488; ajentink@euronext.com

Jean-Yves Daxhelet (Brussels) : +32 2 213 13 00; jean-Yves.Daxhelet@interelgroup.com

Sandra Machado (Lisbon) : +351 217 900 029; smachado@euronext.com

Aichata Tandjigora (Paris) : +33 1 49 27 10 82; atandjigora@euronext.com

 

1.        List of constituents

2.        Figures August 2014

1.        List of constituents Euronext® Southern European Banks Index NR (SEBI)

 

Isin Code

Name

Country

IT0003487029

UNIONE DI BANCHE ITA

IT

ES0113860A34

BANCO DE SABADELL

ES

ES0113790226

BANCO POPULAR ESPANO

ES

IT0000064482

BANCA POP DI MILANO

IT

IT0000064516

CREDITO VALTELLINESE

IT

IT0000062957

MEDIOBANCA SPA

IT

ES0168675009

LIBERBANK SA

ES

IT0000066123

BANCA POP D EMILIA R

IT

IT0003211601

BCA CARIGE

IT

FR0000120685

NATIXIS

FR

IT0000784196

BANCA POPOLARE DI SO

IT

IT0004984842

BANCA MONTE DEI PASC

IT

ES0113679I37

BANKINTER SA

ES

ES0113307021

BANKIA SA

ES

IT0001031084

BCA GENERALI

IT

PTBCP0AM0007

BCP

PT

PTBPI0AM0004

BANCO BPI

PT

IT0005002883

BANCO POPOLARE SC

IT

IT0003261697

AZIMUT HOLDING SPA

IT

IT0004998065

ANIMA HOLDING SPA

IT

 

Read more: https://www.euronext.com/en/list-products/euronext-indices-for-product-creation

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