- Effective Tuesday 15th December 2011
- Weekly MIBO options on FTSE MIB index will be traded on IDEM, Borsa Italiana’s Derivative Market
The new expiry date of MIBO options allows operators to invest in Italian FTSE MIB index , providing a further opportunity to trade during periods of market volatility, as well as allowing short term coverage on equity portfolio.
Nicolas Bertrand, Head of Equity and Derivatives markets of London Stock Exchange Group said:
“The introduction of these new weekly options, confirms the ongoing innovation that characterises the IDEM market We are pleased to welcome Interactive Brokers (UK), Optiver e Tibra Trading Europe, as market makers on this new product”
Until January 31, 2012 weekly MIBO options will be free from trading and clearing fees.
The liquidity of the new contracts will be assured by a new scheme, under which Designated Primary Market Makers and Designated Specialists will have the obligation to trade on an ongoing basis and on all listed expiry dates, in order to facilitate an efficient price- discovery process.
Weekly MIBO options will be traded every Thursday, with the exception of the second Thursday of each month, and the expiry date will coincide with the Friday of the following week. Timetable and procedures for trading are in accordance with the terms of those on the IDEM Market.
Through the introduction of weekly MIBO option contracts, Borsa Italiana completes its offer for index options, allowing institutional and retail investors to take positions with a minimum expiry of 8 days up to a maximum of 5 years.
