Euronext launches Southern European Bank Index
Amsterdam-based Euronext has announced the launch of the Euronext Southern European Banks Index NR.
The index will serve as the underlying for new index futures which will be available for trading on Euronext Amsterdam as of 2nd October, followed by the launch of index options on 9th October.
The Euronext Southern European Banks Index is initially composed of 20 stocks from Spain, Portugal, Italy and France from the financial sector (excluding insurance companies).
Adam Rose, head of Financial Derivatives at Euronext, commented on the launch: “This index is the first to track institutions at the heart of the financial industry in Southern Europe, providing investors the opportunity to hedge or trade equity movements in this sector. This initiative illustrates our efforts and commitment to work closely with our clients and members in order to quickly respond to the market’s needs.”
It consists of companies with a market capitalisation between €1bn and €25bn, being launched as a net return, price return and gross return variant. The new index futures are initially offered with three, six and nine month maturities.