London Stock Exchange and OMX Launch Russian Derivatives.STOCKHOLM, Sweden -- EDX London, the London Stock Exchange's derivatives business, and OMX (STO:0MX) will offer futures and options based on Russian securities traded on the London Stock Exchange's International Order Book (IOB) from 1 December 2006. The Russian IOB Equity Derivatives service will meet demand from banks active in over-the-counter Russian derivatives trading for the lower costs, reduced risk and improved operational efficiency offered by on-exchange trading. The service will offer trading in index derivatives based on the new FTSE FTSE A company that specializes in index calculation. Although not part of a stock exchange, co-owners include the London Stock Exchange and the Financial Times. Notes: The FTSE is similar to Standard & Poor's in the United States. Russia IOB Index, which measures the performance of the ten biggest and most liquid Global Depositary Receipts (GDRs) issued by Russian companies on the London Stock Exchange London Stock Exchange London marketplace for securities. It was formed in 1773 by a group of stockbrokers who had been doing business informally in local coffeehouses. . In addition, single stock options and futures will be available on all ten index constituent companies. Key benefits of the service include: Co Access for a wider range of market participants Co Dedicated Market Makers providing liquidity support on the order book Co Central counterparty clearing and multilateral netting of payments between participants Co Automatic settlement into DTCC DTCC See: Depository Trust and Clearing Corporation or Euroclear Co Efficient processing of corporate actions via the London Stock Exchange Co Physical delivery of single stock derivatives Co Free broking and trade support through EDX London and OMX Market Place Services Co Flexibility to report bilaterally negotiated trades through the Cleared-Only service. Martin Graham, Director of Markets at the London Stock Exchange, said: "The provision of the first on-exchange derivatives service is a major step for the growing market in Russian GDR GDR See Global Depositary Receipt (GDR). derivatives and a significant development for EDX London. The new derivatives will reduce the cost of trading and provide far greater operational efficiency; improving liquidity, and making it easier for a wider range of participants to gain derivatives access to one of the largest and fastest growing markets in the world. Trading in Russian IOB securities so far this year has reached [pounds sterling]183.1 billion, an increase of 188 per cent on the same period last year, demonstrating that the London Stock Exchange's Russian GDRs are fast becoming an established market." Henrik Paulsson, President of Derivatives Markets at OMX, said: "We are seeing strong interest in the Russian market and the Energy sector. Therefore, we are extremely excited to launch a standardised derivatives service focusing on Russian products. This is a unique opportunity to gain access in a cost-efficient way to the liquidity of the developing market in Russia." Roger Naylor, Head of Equity Trading, CEEMA CEEMA Central & Eastern Europe, Middle East & Africa at Deutsche Bank, said: "This is the first on-exchange derivatives service for DRs in one of the world's most important and fast-growing markets. It will bring significant savings for us in terms of cost, efficiency and risk reduction and we are delighted to be involved right at the very start." Trades reported through the Cleared-Only Service will benefit from on-exchange efficiencies, including the clearing of trades to LCH and OMX and the management of a trade through its lifetime under transparent and neutral rules. Trade data on cleared-only trades will not be published to the market and trades can be reported up to one day after trade execution. Notes to editors About FTSE Russia IOB Index | The FTSE Russia IOB Index is a market capitalisation weighted index designed and calculated by FTSE Group. It measures the performance of the ten biggest and most liquid Russian Global Depositary Receipts on the London Stock Exchange's International Order book. Calculation of the index started on 23 October. The index constituents at launch were; OAO Gazprom, Lukoil (OAO), Surgutneftegaz, MMC Norilsk Nickel MMC Norilsk Nickel (RTS:B>GMKN MICEX:B>GMKN) (Russian: ГМК «Норильский Никель» , Unified Energy Systems of Russia, OJSC OJSC Open Joint Stock Company OC Rosneft, OAO Novatek, Sistema JFSC JFSC Joint Forces Staff College (Norfolk, VA) JFSC Jersey Financial Services Commission , OJSC Novolipetsk Steel and Evraz group. Full index details and ground rules are available at www.ftse.com/iob. About EDX London | Created in 2003, EDX London combines the strength and liquidity of the London Stock Exchange with the advanced equity derivatives technology of OMX AB. EDX London is a jointly owned company, with 76 per cent held by the London Stock Exchange, and 24 per cent held by OMX AB. Members of EDX London trade futures and options through a common order book accessible by all members of the Nordic linked exchange network, making business easier and more cost effective. EDX London is a Recognised Investment Exchange, regulated by the United Kingdom's Financial Services Authority The Financial Services Authority ("FSA") is an independent non-departmental public body and quasi-judicial body that regulates the financial services industry in the United Kingdom. Its main office is based in Canary Wharf, London, with another office in Edinburgh. . About the London Stock Exchange | The London Stock Exchange is the world's premier international equity exchange and a leading provider of services that facilitate the raising of capital and the trading of shares. The London Stock Exchange is the most international equities exchange by trading in the world and Europe's largest pool of liquidity. By the end of 2005, the market capitalisation of UK and international companies on the London Stock Exchange's markets amounted to [pounds sterling]4.1 trillion, with [pounds sterling]5.2 trillion of equity business transacted over the year. The London Stock Exchange is a Recognised Investment Exchange (RIE) under the Financial Services and Markets Act 2000 and is supervised by the Financial Services Authority. About OMX | OMX is a leading expert in the exchange industry. Through the Nordic Exchange, OMX offers access to approximately 80 percent of the Nordic and Baltic securities market. The Nordic Exchange is a term used for marketing purposes and is not a legal entity. It describes the common offering from the Helsinki Stock Exchange “HEX” redirects here. For other uses, see HEX (disambiguation).
For Wikipedia's help pages, see . , Copenhagen Stock Exchange Copenhagen Stock Exchange The only securities exchange in Denmark. It features electronic trading of stocks, bonds, futures, and options. , Stockholm Stock Exchange The Stockholm Stock Exchange (Swedish: Stockholmsbörsen) is a stock exchange located in Stockholm, Sweden. Founded in 1863 [1] it is the primary securities exchange of the Nordic Countries. , Tallinn Stock Exchange The Tallinn Stock Exchange is a stock exchange operating in Tallinn, Estonia. It is one of the OMX Exchanges, which also operates Helsinki Stock Exchange and Stockholm Stock Exchange. It is the only regulated exchange in Estonia. The major stock market index was the TALSE. , Riga Stock Exchange The Riga Stock Exchange is a sole stock exchange operating in Riga, Latvia. It is owned by OMX, which also operates Helsinki Stock Exchange and Stockholm Stock Exchange. and Vilnius Stock Exchange The Vilnius Stock Exchange (VSE) is a stock exchange established in 1993 operating in Vilnius, Lithuania. It is owned by OMX, which also operates Helsinki Stock Exchange and Stockholm Stock Exchange. . OMX integrated technology solutions cross the transaction chain enabling efficient securities transactions for over 60 exchange organizations in more than 50 countries. OMX is a Nordic Large Cap company in the Financial sector on the OMX Nordic Exchange. For more information, please visit www.omxgroup.com This information was brought to you by Waymaker http://www.waymaker.net |
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