Five members have joined the new platform: BG Bank A/S, Danske Bank A/S, Nykredit Bank A/S, Sydbank A/S and Unibank A/S.
It has been decided to start using the new systems on 27 November 2000 with the introduction of the products mentioned below:
- Futures on the KFX Index Expiration in December 2000, January, February, March, and June 2001. In connection with the December expiration a new contract expiring in September 2001 will be opened.
- Options on the KFX futures contract Expiration in December 2000, January, February, March, and June 2001. In connection with the December expiration a new contract expiring in September 2001 will be opened.
- American style options with physical delivery on the following Danish shares: Danske Bank, Danisco, Group 4 Falck, Tele Danmark, Carlsberg B, Novo Nordisk B, ISS, GN Great Nordic, Vestas Wind Systems, NEG Micon; Expiration in December 2000, March, and June 2001. In connection with the December expiration new contracts expiring in September 2001 will be opened.
It is not possible to transfer positions from the current clearing system to the new one. Therefore, in order to close positions, both the Electra system and the FUTOP system will be open for trading and clearing, respectively, also after 27 November 2000. It will, however, only be possible to trade ID codes in which open positions exist on the evening of Friday 24 November 2000. The final expiration day in the current clearing system will be 27 December 2000 after which both Electra and the FUTOP system will be closed down. Thus, the new and the current systems will all be in operation for a short period of time.
For further information, please contact Ms Kirsten Thaarup: Phone (+45) 3377 0410, e-mail kt@xcse.dk. .
