The Future Of The FUTOP Market

At a meeting on 20 June 2000, the Board of Directors of the FUTOP Clearing Centre decided that the solution for the Danish derivatives market would be to: move share derivatives and derivatives on the KFX Index to the Swedish trading system CLICK; interest rate derivatives are transferred to SAXESS, and all products are cleared via the Swedish SECUR instead of the FUTOP system.

The date of the transfer of trading and clearing to the new systems has not been fixed yet, however, it is expected to be in mid-November 2000.

The FUTOP Clearing Centre will continue to guarantee registered contracts after the transfer to a new clearing system.

The principles of calculation of margin and posting of margin will not change noticeably and the structure of the clearing fees will remain the same until further notice.

Detailed information on the range of products in the new system as well as information on the positions registered in the present FUTOP system will be provided shortly.