To support the 23 August launch of NZFOX equity options, NZX, in conjunction with the CFA Society of New Zealand, is hosting international guest speaker Bud Haslett, President and Chief Investment Officer of Write Capital Management, NJ, USA.
He will be presenting a lunchtime session, ‘Options for Enhancing Returns’, in Auckland on 18 August and in Wellington on 19 August. (See http://www.nzfox.nzx.com for details and costs.)
Bud Haslett has extensive experience in investing with options. He is responsible for the development and implementation of conservative option strategies for the clients of Write Capital's strategic partners. Previously, Haslett spent two decades on the options trading floor, where he managed portfolios of stocks and options.
“Options are an integral part of a developed capital market. They enable investors to diversify their portfolio, get access to extra revenue streams and leverage their investments,” NZX Market Development Manager Geoff Brown said.
ASX results for the year to June 30 show the daily average number of options contracts traded across the Tasman was 89,195.
“NZX is pleased to be soon adding options to the range of contracts available on NZX’s markets. Recent uptake of warrants by investors gives us confidence that, in time, options too will become a feature of more New Zealanders portfolios,” Geoff Brown said.
Bud Haslett’s presentation will focus on the conservative use of options in equity portfolios and is open to the public. It will provide an ideal opportunity for investors to learn about how to use options to leverage their investments. NZX invite-only sessions will also be held for investment professionals in both centres following the luncheons.
On August 23, NZX will list five share options on the Sydney Futures Exchange (SFE) covering some of the NZX market’s most liquid stocks. They are the NZFOX Carter Holt Harvey Ltd Share Option, the NZFOX Contact Energy Ltd Share Option, the NZFOX Fletcher Building Ltd Share Option, the NZFOX Telecom Corporation of NZ Ltd Share Option and the NZFOX The Warehouse Group Ltd Share Option.
NZFOX products are New Zealand futures and options contracts listed and traded on the SFE. They are based on securities listed on NZX’s markets and New Zealand investors will be able to buy and sell them, in New Zealand dollars, through authorised NZX Futures and Options Participants.
Details and final specifications on all NZFOX products are available on the NZX website at www.nzfox.nzx.com.
