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4.8 million contracts traded on French listed derivative products in February
Open interest in equity derivative products rises
sharply
Open interest up in short- and medium-term interest-rate contracts
March 3, 1998
I- MONEP equity derivatives
February contract volume in equity derivatives totaled 1,235,432 contracts and averaged 61,772 contracts daily - a 3% decrease over the January daily average. Open interest continued to grow sharply, and a new record high was set in equity options, with 1,061,903 contracts at month-end (up 23.7% over January).
OptionsTrading in CAC 40 long-term options further increased in February: contract volume rose 19.7% and premium turnover was up 37.7% over
January.Premium turnover in long-term equity options posted a new monthly record, with FRF 390.6 million. The most traded long-term equity option was Axa-UAP (28,837 contracts) and the most traded short-term equity option was France Télécom (50,424 contracts).
Futures
Contract volume in CAC 40 futures stood at 460,277 contracts (down 14.2%). The contract price reached an all-time high of 3,432 on February 27 (delivery month: February 1998)
II- MATIF interest-rate derivatives
February saw business fall back 25.2% on the previous month, with a total of 3,516,771 interest-rate futures traded. Open interest at month-end stood at 776,574 contracts.
For the Pibor future, its option and the Matif 5-year contract, open interest at month-end was up 13.1%, 14% and 27%, respectively, compared with January 1998.
III- MATIF commodity futures
702 45-Icumsa white sugar contracts were delivered at the end of the March 1998 trading period on February 13, in the ports of Calais (100), Rouen (180) and Immingham (422). The same delivery date saw the first deliveries of 100 Icumsa white sugar futures -350 contracts in all, at the port of Coatzacolcos in Mexico. For all these transactions (45-Icumsa and 100-Icumsa), buyers and sellers agreed on an alternate delivery that led to the signature of commercial contracts.
Open interest in colza futures rose a steep 49.9% from the previous
month. Compared with February 1997, trading volumes and open interest
were up 41.9% and 18.1%, respectively.
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