LIFFE Lists Index Derivatives

April 01, 1999

The London International Financial Futures & Options Exchange has recently launched a bevy of options and futures contracts on European indexes from both FTSE International and Morgan Stanley Capital International.

In May FTSE, LIFFE and Amsterdam Exchanges jointly launched the futures and options contracts based on the FTSE Eurobloc 100 Index, which includes the top 100 companies in the eurozone; the FTSE Eurotop 300, with the top 300 companies in Europe, and the FTSE Eurotop 300 ex U.K., which is composed of the 300 largest companies in Europe minus the U.K. stocks that would otherwise be included. Futures and options on the FTSE 100, which is composed of the 100 top companies in all of Europe, have traded on the exchange since 1992 and 1998, respectively.

Also beginning in May, futures and options on the MSCI Euro and the MSCI Pan-Euro indexes were first listed on the LIFFE. The MSCI Euro index is a narrow index derived from the larger MSCI EMU benchmark index, which draws its components from countries in the eurozone, excluding Luxembourg. The MSCI Pan-Euro index is derived from the MSCI Pan-Europe index, which includes components from the 15 developed European markets covered by MSCI.

LIFFE has also launched futures and options contracts on the new FTSE E-Stars index (see story), also known as the Magic 29, which is composed of the 29 largest companies in the eurozone.

 

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