030402_record derivati



Record number of trades for Borsa Italiana's derivatives market (IDEM)

1,898,296 contracts traded in March



The Italian derivatives markets set a new record in March, with a total of 1,898,296 contracts traded, (up 65.2% compared with March 2002) and a daily average of 90,395 (+57.3%).

Volumes surpassed the previous record reached in May 2001 by almost 2,000 contracts.

In the first quarter of 2003, 4,819,863 contracts were traded on the IDEM, an increase of 32% compared with the first quarter of 2002.

The miniFib, the first European futures contract launched and developed for the individual investor, reached a new record in March, with a total of 289,949 contracts traded, equivalent to a daily average of 13,807 contracts.

March 18 signalled a record high with 18,562 contracts being traded in a single day.

Among the derivative products currently listed, the miniFib has experienced the greatest growth, with an increase of 102% compared with March 2002.

Even the IDEM Stock Futures - launched in July 2002 on 5 underlyings and traded today on 10 blue-chip companies of Mib30 - have reached a record number of trades, with 1,289 daily average contracts. Volumes have increased by 54% in the first three months of 2003, compared with the first six months of trading.

With 501,875 contracts being traded on Fib30, equivalent to a daily average of 23,899 contracts, the Fib30 showed a 28% increase in volume, compared with March 2002.

The Mib30 Index Options, registered a total of 270,036 contracts equal to a daily average of 12,859 contracts, presenting an increase of 85%, whilst the average daily number of stock options traded experienced an increase of 72%, with 809,169 contracts, equivalent to a daily average of 38,532 contracts being traded.

Open interest for all products totals 1,005,497.

IDEM's growth in volumes has been supported by the rising interest from the individual investor, particularly active on miniFib. The success of miniFib and of the other products listed on the IDEM market (for the retail investor) is demonstrated by the presence of 20 brokers ( of which 6 have activated this service during 2003) which offer this product online and which represent more than 40% of volumes traded on this product.

During the course of last year, IDEM has experienced major developments in terms of operational efficiency, thanks to the introduction of a new and more powerful trading platform, amongst the most advanced in the International Exchange industry. This new platform allows for the introduction of stock futures, an increase in the number of stock options quoted (on 34 underlyings) and an increase in the number of international operators linked to our markets via remote membership, which today totals 18.


Milan, 2 April 2003

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