NYSE Liffe to List Russell Europe SMID 300 Index Futures on Bclear

Kimberly Watson, Editor in Chief
September 04, 2012 /

NYSE Liffe, the European Derivatives business of NYSE Euronext, will launch next month futures contracts on the Russell Europe SMID 300 Index on its market leading wholesale derivatives service, Bclear.

The Russell Europe SMID 300 Index contains the 300 most rapidly tradable constituents from the small- and mid-cap (SMID cap) opportunity set in developed European markets and was designed with considerable input from the trading community to ensure ease of use in the trading environment. It also represents a low implementation cost alternative to existing indexes.

Russell Investments is a global asset manager and one of only a few firms that offer actively managed multi-asset portfolios and services that include advice, investments and implementation.

The Index is the first of its kind and is unique in that it is built to minimise the length of time it takes to trade a basket of stocks that replicates the index constituents and their weights.

“With the launch of this futures contract on the Russell Europe SMID 300 Index we are providing our customers with a unique product to access Europe’s small and mid-cap companies.” said Ade Cordell, Executive Director of Equity Derivatives, NYSE Liffe. “Launching the futures contract on our innovative and award winning Bclear service highlights our continuing commitment to meeting the needs of our customers.”

“We are very excited that NYSE Liffe is launching futures on the Russell Europe SMID 300 Index, a highly tradable index of small- and mid-cap European stocks,” said Scott Stark, head of Russell Indexes Europe. “We designed our new index to meet a clear need in the marketplace, and are pleased we are already seeing a strong acceptance.”

During the development process for the Russell Europe SMID 300 Index, Russell consulted with a number of large financial institutions in Europe including Barclays, Deutsche Bank, Goldman Sachs and UBS.

Bclear has processed over 1.4 billion equity derivative contracts since launch in 2005 with a value of € 15.4 trillion. Bclear is NYSE Liffe’s service for processing and clearing OTC derivatives within the secure environment of a Recognised Investment Exchange and a Recognised Clearing House. This reduces the counter-party credit, legal and operational risks associated with OTC transactions.


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