2.1 Listed derivatives (140.39 kB)
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Exchange traded derivatives
Oslo Børs introduced trading in options on individual shares and the OBX index in 1990, and subsequently added trading in futures contracts for the OBX index. In 1997, Oslo Børs, the Norwegian Futures and Options Clearing House (NOS), OM Stockholm AB and the OMLX Exchange in London launched the worlds`s first real-time interconnection of independent exchanges and clearing houses. This collaboration continues today between Oslo Børs, Oslo Clearing, Stockholmsbörsen and EDX (London).
This development represented a transition from manual to electronic trading for the Norwegian derivatives market. A joint order book for Norwegian and Swedish derivatives was introduced in 2004, making cross-border trading derivatives trading even easier. Oslo Børs uses the CLICK XT™ trading system for derivatives trading. CLICK XT™ is the most widely distributed trading system in the world, and is used by over 20 exchanges in North America, Europe and Asia.
One of our main goals is to support and increase the trading of Norwegian and Swedish derivates. Therefore Oslo Børs and Oslo Clearing have regular contact with both investors and brokers. Another aspect is to spread knowledge about equities. Consequently the stock exchange and Oslo Clearing organize courses and seminars where interested investors and institutions learn how this market works. Contact Oslo Børs or Oslo Clearing for further information.
Only securities firms have access to the market-place at Oslo Børs. A securities firm can act as a trading representative, a clearing representative, or as a combined trading and clearing representative. A trading representative represents the end client in connection with trading at the stock exchange, and leaves clearing matters to the end client’s clearing representative.
Oslo Børs has linked up with securities firms which operate as market makers. The role of the market makers is to set fixed buying and selling prices for products, stipulating a maximum difference between the buying and selling rates. As a result, there will always be a price structure and liquidity for the various products.
The average number of derivatives contracts traded daily in the Norwegian derivatives market reached 55.950 in 2008. This set a new record, representing an increase of almost 14% from 2007. The value premiums traded (options) increased over the same period by 44% to NOK 4,6 billion. The most widely traded derivatives contracts in 2008 were in the OBX index, StatoilHydro, Yara og Orkla.