NYSE Liffe, the Europe-based derivatives business of NYSE Euronext (NYX), announced that it had added options on shares in Bekaert, a global market leader in drawn steel products, to its highly successful range of equity option classes. The options are available on the Brussels derivatives market of NYSE Liffe.
Vincent Van Dessel, CEO of Euronext Brussels commented: "We are pleased to be listing options on Bekaert. We have taken this step in response to customer demand: the move should have a further positive impact on the liquidity of the underlying market in Bekaert shares."
Alan Van Griethuysen, Regional Business Head Benelux & Asia NYSE Liffe added: "The additions of options on Bekaert expands our Belgian equity option offering. We are pleased that the harmonization of the rules and trading procedures of the Amsterdam and Brussels markets has led to further growth and interest in the Belgian products."
Baron Paul Buysse, Chairman of the Board of Bekaert, commented: "We are delighted that investors in Bekaert now have access to an alternative financial instrument on the NYSE Liffe market in Brussels. Moreover, the listing of options offers the opportunity to enhance the liquidity of Bekaert shares."
These American-style options will expire on the third Friday of the contract month and will have initial lifetimes of one to twelve months. Options on Bekaert are introduced under trading symbol BEK.
Each option represents 100 shares in Bekaert and will be centrally cleared via LCH.Clearnet SA. Liquidity in the options will be supported by 3 market makers: All Options International B.V., Timber Hill (Europe) AG and B&Btrading. Trading will take place on NYSE Liffe's Universal Trading Platform.
In 2010, 175 million equity options were traded on NYSE Liffe. Volumes in individual equity options on the Brussels derivatives market have grown by 26% in 2011 on 2010. NYSE Liffe lists stock options (also known as individual equity options) on over 250 leading European companies via the Amsterdam, Brussels, London and Paris central order books.
To mark today's special occasion, Baron Paul Buysse, Chairman of the Board of Bekaert, rang the opening bell, which signals the start of trading on NYSE Euronext's European market, together with Vincent Van Dessel, CEO NYSE Euronext Brussels.