The launch of this initiative follows the announcement of the listing of three new USFs based on Spanish stocks bringing the total to 11 Spanish USFs representing 77% by market capitalisation of the IBEX Index. The new USFs, based on Altadis SA, Banco Popular Espanol SA and Industria de Diseno Textil SA (Inditex) will be available from 27th October 2003.
Euronext.liffe already lists a total of 115 USFs and this will be expanded to 140 on 27th October.
Universal Stock Futures trading on Euronext.liffe has already shown strong growth in 2003. Year-to-date 5.06 million contracts have traded marking an 79% increase over the same period last year. These latest developments are part of Euronext.liffe's drive to be the leading exchange for cross-border equity derivatives trading in Europe.
Fraser Cowie, Executive Director of Marketing at Euronext.liffe said: "Spanish customers have responded extremely well to our Universal Stock Futures. To encourage further development of the Spanish-based contracts we are offering six months of free trading and clearing of Spanish-based USFs for all our customers. In addition we are launching three additional contracts based on the Spanish stocks that users have asked us to add and that will allow us to complete our coverage of all the components of the FTSEurofirst 80 Index. This should ensure that even more customers have the chance to trade Global blue chip stocks in a cheap, easy and efficient manner using Universal Stock Futures."
