NETHERLANDS – Euronext Amsterdam is to launch a pilot project in November to put option classes up for full screen trading for the first time in its history.
Currently, only futures are traded fully on screen.
However, from November equity options in Fortis, Nutreco and ASM International will no longer be traded on the exchange floor through open outcry.
The pilot project is aimed at helping institutional and private investors become familiar with the full screen concept.
It will continue until February 2002, after which other option classes will migrate phase by phase to full screen trading.
The changeover to screen trading in Amsterdam is part of Euronext’s strategy for achieving a fully integrated screen-trading system for options and futures in Paris, Amsterdam and Brussels.
Five market makers will be selected for the project. Each will have the right to 10% of an order after giving the best quote. However, they will also be required to provide continuous bid and ask prices so that investors have access to on-screen firm quotes at all times.”