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- The total volume of trading in derivative instruments year to date was 7.3 million instruments, equal to 74% of the total volume in all of 2007. The volume of trading was 12.2 million instruments in the past 12 months.
- The volume of trading in WIG20 options was 38.6 thousand options in July 2008, the highest monthly volume of trading in 2008.
- Currency futures contracts:
- The volume of trading in currency futures contracts was 7,327 contracts in July 2008, the highest monthly volume of trading in the instrument in the history of the WSE.
- A record-high daily volume of trading in currency futures contracts was reported on 9 July 2008 when 778 futures contracts were traded (previous record of 612 contracts on 20 June 2008);
- The number of open positions in currency futures contracts was record-high at 2,516 contracts on 29 July 2008.
- The volume of trading in stock futures contracts was 25,497 contracts in July 2008, the second highest monthly volume of trading in the history of the WSE (the highest volume of trading at 30,402 contracts was reported in January 2008).
- Structured products:
- The value of trading was PLN 10.32 million in July, including PLN 822 thousand on bonds and PLN 9.5 million on certificates (the value of trading year to date was PLN 82.23 million);
- The volume of trading was over 109 thousand products (the volume of trading year to date was over 426 thousand products);
- There were 692 transactions (4,133 transactions year to date);
- On 9 July 2008, 11 structured certificates issued by Raiffeisen Centrobank AG were introduced to the WSE including:
- 9 open-end regular structured certificates with undetermined maturity based among others on agricultural produce, indices and commodities;
- 1 short structured certificate with undetermined maturity (the underlying instrument is Brent Crude Oil Inverse Performance);
- 1 bonus structured certificate with determined maturity (13.12.2010, Brent Crude Oil certificate);
- On 23 July, Energy Bonds issued by BARCLAYS BANK PLC were introduced to the WSE. The bonds are the issuer’s fourth product listed on the WSE.
- On 28 July, “BZ WBK Nowa Era 2” index certificates issued by BNP Paribas Arbitrage Issuance B.V. were introduced to the WSE. The certificates are tied to credit exposure to Bank Zachodni WBK S.A. and have the nominal amount of PLN 100 million. The certificates have the same underlying product as BZ WBK Nowa Era certificates (BZNERA1111) earlier introduced to the WSE. The differences between the products include: the nominal amount, the issue date and maturity, and the minimum investment.
- At the end of July, 40 structured products were listed on the WSE, including 7 structured notes and 33 structured certificates.
- The Financial Supervision Authority (KNF) approved the Terms of Trading for a stock futures contract scheme. The new stock futures contract scheme will give the WSE more flexibility in introducing new categories of futures contracts on the stock of listed companies.
- The Financial Supervision Authority (KNF) approved the Terms of Trading for a GBP and CHF exchange rate futures contract scheme. The contracts are scheduled for introduction to the WSE at the end of Q3 2008.
Table 1
Volume of trading (including block trades) in July 2008, January – July 2008, and August 2007 – July 2008 (last 12 months), and the number of open positions at the end of July 2008, by derivative instrument category.
|
No. |
Instrument |
Volume of trading (#) |
Number of open positions, end of July 2008
(#) |
||
|
July 2008 |
January-July
2008 |
August 2007 – July 2008 |
|||
|
1 |
WIG20 OPTIONS |
38 568 |
186 813 |
364 734 |
27 688 |
|
2 |
WIG20 CONTRACTS |
905 572 |
6 877 235 |
11 543 933 |
61 986 |
|
3 |
mWIG40 CONTRACTS |
4 347 |
13 429 |
24 620 |
461 |
|
4 |
TECHWIG CONTRACTS |
0 |
1 141 |
4 458 |
0 |
|
5 |
STOCK CONTRACTS |
25 497 |
161 491 |
237 542 |
3 403 |
|
6 |
CURRENCY CONTRACTS |
7 327 |
35 703 |
40 084 |
2353 |
|
7 |
WIG20 PARTICIPATION UNITS |
1 716 |
16 691 |
30 893 |
7 096 |
|
|
TOTAL |
983 027 |
7 292 503 |
12 246 374 |
102 987 |
Source: WSE data
Figure 1
Annual volume of trading (including block trades) in all derivative instruments listed on the WSE (million instruments)
 |
Source: WSE data
Figure 2
Total number of open positions in derivative instruments at the end of the year between 1998 and July 2008 (thousand instruments).
 |
Source: WSE data
