From november on, Fortis, Nutreco and ASM International equity options will no longer be traded on the exchange floor through open outcry. The pilot project, aimed at helping private and institutional investors to become acquainted with the full screen concept, will continue at least until February 2002. After this period other option classes will migrate phase by phase to full screen trading.
The changeover to screen trading in Amsterdam is part of Euronext's strategy for achieving a fully integrated screen-trading system for options and futures in Amsterdam, Brussels and Paris.
Five competitive market makers will be selected for the pilot project, with each having the right to 10% of an order after giving the best quote. However, they will also be required to provide continuous bid and ask prices so that investors have access to on-screen firm quotes at all times.
