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With these new products, Eurex is responding to the great interest from investors. The new index products will replace the existing futures and options on the equity index NEMAX® 50, which will only be traded until 2004 at most. To enhance the attractiveness of the new products on the TECDAX® equity index, no transaction fees will be charged during the period from March 24 to June 20.
TECDAX® is Deutsche Börse's new benchmark index for the 30 largest technology stocks below the DAX® blue-chip equity index and will take the place of the NEMAX® 50 as the benchmark index for technology stocks. The NEMAX® 50 equity index will be calculated until the end of 2004 to ensure continuity in the futures and options and other products based on this index.
As in all options at Eurex, the options on the TECDAX® will be supported by professional market making. Moreover, until the end of September Eurex will offer Designated Market Making in futures on the TECDAX; in this case, the market makers quote bid and ask prices for the futures on a continuous basis in the order book to provide for the necessary liquidity in this product.
The world's Number One derivatives market is thus further expanding its portfolio of products on leading European benchmark indices. In addition to trading in individual options on TECDAX®, institutional and private investors can also trade the whole blue-chip index with the new products. This opens up a wide variety of trading strategies for investors. To move forward with the standardization of European benchmark index products, Eurex set the contract sizes of the futures and options on TECDAX® at 10 euros per index point.
