Eurex to Expand its Volatility Derivatives Offering
Launch of new VSTOXX® options as of 22 March 2010
The international derivatives exchange Eurex today announced that it will expand its offering of volatility index derivatives based on VSTOXX. The new options contract will be launched on 22 March 2010 and complement the existing VSTOXX mini future. This step will increase the offering of volatility derivatives that are centrally cleared via Eurex Clearing, thereby mitigating counterparty risks. The VSTOXX index calculates the implied volatility of the EURO STOXX 50 options.
“Our new VSTOXX options will not only complement our VSTOXX mini futures but will also allow users to hedge their positions with greater precision”, explained Peter Reitz, member of the Eurex Executive Board.
Eurex will support the launch with a special market making scheme in order to ensure order book liquidity from the first day of trading. The minimum tick size is 0.5 (5 Euro). Trading hours will be between 9 am and 5:30 pm. The maturities of the new contracts will correspond to those of the existing VSTOXX mini futures: the three nearest calendar months and the following quarterly month of the February, May, August and November cycle thereafter.
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