Russian IOB stock dividend futures launched on EDX London
- First Russian stock dividends to be traded on Exchange
- LSE Group broadens its derivatives offering
Today EDX London, London Stock Exchange Group’s (LSEG) international derivatives market has gone live with dividend futures on six Russian International Order Book (IOB) underlyings. This is the first time Russian dividend futures will be traded on exchange.
Nicolas Bertrand, Head of Equities and Derivatives for London Stock Exchange Group, said:
“The launch of this new service on EDX London demonstrates our innovative approach to product development, giving investors the ability to trade or hedge dividend exposure to Russia on exchange for the first time.”
“London has long been the natural home for Russian companies looking to gain access to international capital. This, coupled with the world’s most liquid order book for GDRs, and the broad range of Russian derivatives products we now offer, reinforces London’s credentials as a global gateway for trading in Russian instruments and markets.”
EDX London has worked closely with its members to design an innovative product that is the first of its kind globally. Features include:
* An objective, market-recommended solution to calculate daily settlement prices using market-leading dividend forecast data supplied by global financial information services company, Markit;
* New processing that prevents any unexpected profit or loss as a result of unusual dividend payment schedules;
* An intelligent, simple and competitive pricing model that levies fees proportionate with contract exposure.
Our full service of Russian products and markets includes:
* Flexible primary market for new and existing Russian listings and tradable instruments;
* The International Order Book, the world’s most liquid order book for Depositary Receipts, offers electronic trading and central counterparty clearing;
* Russian IOB single stock options and futures;
* FTSE Russia IOB Index options and futures;
* Russian IOB stock dividend futures.
Other product developments for the Group in derivatives include the launch of 13 new pan-European stock futures on Borsa Italiana’s derivatives market, IDEM, introduced on 20 December 2010.
About EDX London Limited:
EDX London provides futures and options trading in a range of international markets across equity and index derivatives. In 2006, EDX London launched its award winning trading and clearing service for Russian derivatives on the London Stock Exchange traded individual and index depositary receipts (DRs). Globally, EDX London now trades the majority of Russian equity DR options. EDX London is a Recognised Investment Exchange by the UK Financial Services Authority. EDX is majority owned (80%) by the international diversified exchange business, London Stock Exchange Group.
About London Stock Exchange Group:
London Stock Exchange Group (LSE.L) sits at the heart of the world’s financial community. The Group operates a broad range of international equity, bond and derivatives markets, including London Stock Exchange; Borsa Italiana; MTS, Europe’s leading fixed income market; and Turquoise, offering pan-European and US lit and dark equity trading. Through its markets, the Group offers international business unrivalled access to Europe’s capital markets.
The Group is a leading developer of high performance trading platforms and capital markets software and also offers its customers around the world an extensive range of real-time and reference data products and market-leading post-trade services.
Headquartered in London, United Kingdom with significant operations in Italy and Sri Lanka, the Group employs around 1500 people. Further information on London Stock Exchange Group can be found at www.londonstockexchangegroup.com.
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