The Italian Exchange introduces on its IDEM market two new stock options on STMicroelectronics and Italgas shares
Starting June 24th, 2002, two new stock option contracts on STMicroelectronics and Italgas shares will be traded on Idem, the derivatives market of Borsa Italiana.
Following the launch of stock options on Snam Rete Gas and Banca Fideuram shares in May 2002, the two new contracts will increase the number of IDEM products directly linked to the MIB30 index. The Italian Derivatives Market now offers 35 stock option contracts, in addition to the FIB30, the miniFIB and the index options contracts.
The introduction of the stock option on STMicroelectronics shares, which are listed on Euronext and NYSE in addition to Milan, reflects the importance of the shares in the Italian market. STMicroelectronics entered the MIB30 in March 2002 and currently represents about 13% of the total turnover of MIB30 shares.
The minimum lots of the stock options on STMicroelectronics and Italgas shares will be, respectively, 100 and 1000 shares. The other contract specifications are the same as the other option contracts listed on the IDEM (see www.borsaitalia.it).
The liquidity of the contracts will be enhanced by market makers.
The launch of the options on STMicroelectronics and Italgas, as well as the forthcoming launch of single stock futures, was made possible thanks also to the recent introduction of the new trading platform of the Derivatives market of Borsa Italiana.
Since the launch of the new platform, which is six times more powerful than the former version in terms of handling orders and quotes management, the turnover on the IDEM market has been consistently growing, exceeding in May a daily average of 70,000 contracts.
Milan - 2002, June 20
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