Paris Bourse to market Stoxx futures in US
The Paris Bourse says the US Commodity Futures Trading Commission has authorised it to market futures contracts on the Dow Jones Euro Stoxx 50 and the Dow Jones Stoxx 50 indices in the US. It said this development would make it the first exchange to offer access to futures on these indices in US.
The new contracts can be traded like any US product through stateside trading screens, Paris Bourse says. Since US trading hours overlap with the Bourse’s trading hours of 8 am–10 pm Paris time, the exchange operator said US investors could trade the contracts at the same time as US index derivatives, which would lead to more opportunities for arbitrage.
Meanwhile, Morgan Stanley Capital International said two futures contracts based on its European stock indices had been given the go-ahead from regulators in the US. The contracts, based on the MSCI Euro Index and the MSCI Pan-Euro Index, gained approval from theCFTC, allowing the contracts to be offered and sold to institutions in the US, the bank says.
Since May 1999, the futures and options contracts had been listed on the London International Financial Futures and Options Exchange, it says. Within weeks US-based institutions accessing Liffe’s electronic trading platform Liffe Connect would be able to invest in these contracts from their north American operations, MSCI said.