Options in Mittal Steel N.V. started trading on the Amsterdam and Paris markets of Euronext.liffe today. A total of 872 contracts, each representing 100 shares in Mittal Steel, changed hands on a highly successful first day of trading.
“Mittal Steel shares have enjoyed brisk trading over the last year. Today’s option listing is expected to lead to even better liquidity in these shares, owing to the way the stock market and the options market interact within Euronext,” Joost van der Does de Willebois, Euronext CFO and member of the Managing Board said at noon, shortly before Mr Sudhir Maheshwari, Vice President, Head of Finance, M & A of Mittal Steel, sounded the gong on the Amsterdam floor to start trading.
Liquidity in Mittal Steel options is supported by 15 market makers. Mittal Steel options have initial lifetimes ranging from one month to twenty-four months and they expire on the third Friday of the contract month. Clearing is handled by LCH.Clearnet.
Mittal Steel options are available for trading on LIFFE CONNECT® via the highly successful central market model used in Amsterdam and Brussels and introduced in the Paris market later this month. The central market model provides investors with competitive prices throughout the trading day. Tradable bid and offer prices are displayed on screen continuously to enhance market quality and liquidity and add value for customers.
