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In partnership with JPMorgan, Liffe is introducing, for the first time, a bespoke product on Bclear. On 10 September the Exchange launches the JPMorgan IPOX Europe 50 Index Futures contract.
The JPMorgan IPOX Europe 50 Index measures the share price performance of the top 50 European companies ranked quarterly by market capitalisation and selected from the underlying IPOX Composite Europe Index, a leading benchmark for the performance of European IPOs and spin-offs.
This launch marks the next step in Bclear’s development, in which Liffe works with member firms and their clients to create sponsored products alongside the existing portfolio of standard derivatives contracts. The JPMorgan IPOX Europe 50 Index Future is available to all Bclear users and their clients.
Hugh Freedberg, Chief Executive of Liffe, said: “We are delighted to meet JPMorgan’s need for this innovative product. We hope to see Bclear becoming a vehicle for a wider variety of bespoke products tailored to the needs of individual member firms and their clients, and we welcome approaches from any of our customers who would like to investigate a similar partnership.”
Adrian Valenzuela, Head of Equity Derivatives Investor Sales for EMEA, said: “Bclear combines the flexibility of trading OTC with the efficiency and credit control of trading on-exchange, giving us the best of both worlds. We are pleased that we are able to launch this index future on Bclear in conjunction with Liffe and see this as the start with many more JPMorgan indices to come.”
Dr. Josef Schuster, CEO of IPOX Schuster said: “We are pleased to team up with JPMorgan and Liffe to make the index available as a derivatives contract. This is the first product of its kind in Europe, offering a scaleable opportunity to participate in the performance of the highly dynamic European IPO and spin-off sector”.
