The derivatives exchange Eurex is to expand its Swiss products to include futures and options on the SLI Swiss Leader Index.
The new products will be launched on the 22nd October. The SLI index includes the thirty most liquid and largest stocks on the Swiss stock market and has been calculated by SWX Swiss Exchange as an addition to the SMI bluechip index since the 2nd July 2007.
The new futures contract is similar to the current SMI future. One index point corresponds to a value of CHF 10, there are four expiration dates a year, and settlement is made in cash. The tick size of the SLI Index future is CHF 5, as opposed to CHF 10 for the SMI future.
Options on the SLI index will have a contract size of CHF 10 per index point. The minimum tick size is 0.1 index points, or a value of CHF 1 and the options will have a maximum maturity of sixty months.
The trading and clearing fees for the new futures and options will be waived until the end of this year.