Futures On Individual Stocks To Be Launched On The Warsaw Stock Exchange

On January 22, 2001, the Warsaw Stock Exchange will launch its new derivative product – individual stock futures.

Futures on stocks of the following three companies: Telekomunikacja Polska SA, Polski Koncern Naftowy ORLEN SA and Elektrim SA will be introduced. These are all actively traded and highly capitalised equities.

Contracts with three expiry dates, i.e. two nearest calendar months plus the nearest month from the March quarterly cycle will be available for trading. Since the launch is planned for January 22, 2001, the following expiry dates will be introduced: February, March and June 2001. Contracts expire on the third Friday of the delivery month.

The introduction of stock futures further expands the range of Exchange-traded derivatives, which currently includes index futures (WIG20 and TechWIG), currency futures (USD and Euro), as well as equity and index warrants.