Heineken Holding N.V. is a holding company, controlling 50,005 % of the shares of Heineken. Heineken Holding N.V. is traded at an average montly volume of 2.9 mln shares, while Heineken N.V. is traded at a montly average of 17.9 mln shares. Because of differences in liquidity and visibility, Heineken Holding shares are trading at a discount to Heineken shares on the cash market of Euronext.
"Euronext .liffe is happy to welcome trade in options on Heineken Holding shares. This will offer greater choice and additional possibilities for anticipating stock price developments of Heineken and Heineken Holding shares. It will lead to an even larger liquidity in both option classes, leading to better prices for investors", said Alan van Griethuysen, Executive Director Continental Derivatives at Euronext.liffe, just before the first trade was done in Amsterdam this afternoon.
The launch of options on Heineken Holding marks the first product launch at the Amsterdam trading system Switch, after Euronext.liffe announced in December 2002 that it successfully transferred all Amsterdam futures and options from open outcry trading to screen trading. The migration led to a substantial rise in traded volumes. The number of contracts traded increased on average by 79% following the move from open outcry trading to screen trading.
The contract specifications for Heineken Holding N.V. share options are as follows:
|
Symbol |
HEH |
|
Contract size |
100 shares |
|
Unit of trading |
100 |
|
Pricing unit |
1 |
|
Currency |
Euro |
|
Option price |
Premium x unit of trading |
|
Minimum price move |
s 0.05 |
|
Trading hours |
9.00 a.m. – 17.25 p.m. CET |
|
Option style |
American |
|
Contract months |
Initial lifetime: 3, 6 and 9 months |
|
Cycle: January, April, July, October | |
|
Last day of trading |
Until 17.25 p.m. CET, the third Friday of each contract month, provided this is a business day. If it is not, the last day of trading shall be the last business day preceding the third Friday in the contract month. |
|
Settlement |
Delivery of 100 shares through Clearnet Amsterdam Branche |
|
Clearing organisation |
Clearnet S.A. |
|
Reporting level |
7.500 Contracts |
|
Margin percentage for the public |
10 % |
|
TIMS margin interval for clearing members |
7 % |
|
Security code |
00895 |
|
ISIN |
NL 0000008951 |
