MEFF Launch Of S&P Europe 35 Futures And Options Contracts

Next Thursday, June 21, four new contracts will be launched in partnership with Standard and Poor´s and the Chicago Mercantile Exchange. Information summary about these contracts:

Index contracts for Europe, NOT ONLY FOR THE EURO AREA.
Every point is 20 euros on each contract.
Current index levels:
- S&P Europe 350, 1380.
- S&P Financials, 1410.
- S&P Information Technology, 2050.
- S&P Telecommunications, 1550.
Index values, futures and options prices available in REAL TIME on http://www.meff.com Contract specifications, fair value sheets contributed on a daily basis by B&M, vendor codes, historical series, etc. may be retrieved on
http://www.meff.com/ing/standardpoor.htm
and
http://www.speurope.com
S&P Europe 350 is available for sale in the US (CFTC no - action letter).
Initial margins will be the following:
- S&P Europe 350, 1700 euros.
- S&P Financials, 2200 euros.
- S&P Information Technology, 8400 euros.
- S&P Telecommunications, 3400 euros.
Expirations will be quarterly, third Friday. Initially MEFF will open September and December 2001, and March and June 2002. Front month is expected to concentrate liquidity.
Options will also have the same quarterly expirations. In the near future MEFF will open three consecutive months. Strike prices available every 25 points, 5 up and down ATM.
Historical volatility for S&P Europe indices is approximately 25% except for S&P Information Technology which is 75%.