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September 2006 was the consecutive month when the volume of turnover in all derivative instruments (futures contracts, options and index participation units) was over 0.5 million instruments.
Since the beginning of the year (Jan-Sep 2006) the volume exceeded 5 mln instruments and it was 1.2 million higher than the volume from the same period of last year. Moreover, it represented 93% of the total volume of instruments from the year 2005 (5 651 529 instruments).
Between January and September 2006, the turnover value of all derivatives reached PLN 290 billon and it was nearly PLN 53 billion higher than it was in the whole year 2005.
The volume of the turnover of the index options WIG20 was 256,363 options since the beginning of the year and exceeded the volume of the last year – 250.060 options.
In September, the average daily open interest reached the level of 66 thousand instruments and it amounted to twice and a half more then the average daily volume in the same period.
Volume of turnover in derivative instruments and open interest
| INSTRUMENT | TRADING
VOLUME |
OPEN INTEREST AT END
OF MONTH |
|||
| September 20096 | Jan-Sep 2006 | Oct 2005 - Sep 2006 | |||
| 1 | WIG20 INDEX OPTIONS | 22,172 | 256,363 | 359,273 | 7,531 |
| 2 | STOCK OPTIONS | 434 | 9,392 | 13,764 | 217 |
| 3 | WIG20 INDEX FUTURES | 510,039 | 4,870,441 | 6,319,483 | 43,667 |
| 4 | MIDWIG INDEX FUTURES | 9 | 1,404 | 1,622 | 5 |
| 5 | TECHWIG INDEX FUTURES | 688 | 10,970 | 12,789 | 99 |
| 6 | STOCK FUTURES | 3,977 | 95,888 | 145,385 | 920 |
| 7 | CURRENCY FUTURES | 161 | 2,510 | 3,451 | 61 |
| 8 | T-NOTE FUTURES | 370 | 11,504 | 17,925 | 150 |
| 9 | INDEX PARTICIPATION UNITS | 1,019 | 14,646 | 17,406 | 7,092 |
| TOTAL | 538,869 | 5,275,628 | 6,894,549 | 59,742 | |
Source: WSE data
Important issues
On August 15, 2006, 126 series of derivatives expired: 111 series of options (25 series of WIG20 index options and 86 series of stock options for 5 companies) and 15 series of futures contracts.
On September 18, 2006, new series of futures contracts and options were introduced to trading. As for WIG20 index options, apart from introducing the series complied with the instrument standard, theWSE Management Board decided also to introduce additional series.
Since September 1, 2006, there are new tick sizes for stock options, WIG20 index options and stock futures. More detailed information is available on the website: www.wse..com.pl.
