Borsa Italiana: SEC "No Action Letter" For Options On S&P/MIB, Now Tradeable Also In The United States - Trading And Clearing Fee Incentives On Stock Options And Stock Futures

The Securities and Exchange Commission (SEC), has recently published the no-action letter which authorises the offer and sale to U.S investors of Option contracts on the S&P/MIB and on the individual stocks that are listed and traded on IDEM, the Italian derivatives exchange.

Last September, the U.S Commodities Futures Trading Commission (CFTC), which controls the futures market gave its approval for the offer and sale - once again to U.S investors - of S&P/MIB Index futures and minifutures contracts.

These two authorizations will significantly help to increase volumes on the IDEM thanks to a greater participation from U.S investors.

The S&P/MIB Index futures traded a record high on Friday 8th. 19,560 futures contracts and 7,331 minifutures contracts were exchanged. Borsa Italiana has completed a range of initiatives to guarantee the success of the new S&P/MIB Index derivatives products.

Since June, Borsa Italiana has also introduced a new Block Trade Facility (BTF) which favours the use of large trades for all futures and options contracts. To promote this new functionality, Borsa Italiana has initiated a plan of commercial initiatives for intermediaries - valid until the end of the year on trading and clearing - for stock futures and stock options transactions above 1000 contracts .