South America news

B3 to introduce EURO STOXX 50 and DAX Derivatives as Qontigo grows its footprint in South America

ZUG, Switzerland and SAO PAULO, Nov. 3, 2021 /PRNewswire/ — Qontigo and B3 introduced that Qontigo has licensed two flagship European indices to be listed as futures contracts on the Brazilian trade. The EURO STOXX 50 Index and the DAX Index will function underlyings for fairness index derivatives, making these indices accessible to Brazilian buyers for the primary time.

They are going to be traded in euros however cleared in Brazilian Actual (BRL). This enables buyers primarily based in Brazil to entry two main European index futures through their dwelling market and with none foreign money danger. B3 already provides comparable overseas benchmarks within the authentic foreign money however cleared in BRL.

“The itemizing of the EURO STOXX 50 and DAX Index futures is a vital initiative by B3, the principle monetary infrastructure in Latin America and the second in quantity of derivatives on the earth, to increase the provide of economic devices to Brazilian buyers. On this manner, they’ve much more potentialities to diversify their portfolios from the principle European indexes. The arrival of those merchandise additionally happens at a time when the Brazilian inventory trade experiences an exponential enhance in particular person buyers, reaching greater than 4 million accounts”, says Claudio Jacob, managing director of Purchasers and Enterprise Improvement at B3.

Sean Smith, Managing Director, Derivatives at Qontigo mentioned: “The enlargement of our flagship indices to Brazil is a vital step for Qontigo as we glance to satisfy the rising world demand for derivatives primarily based on our benchmarks. Specifically, the futures on the EURO STOXX 50 and the DAX will present entry for Brazilian buyers to specific their views on the event of Europe and Germany, the most important single economic system within the Eurozone.”

The EURO STOXX 50 Index, Europe’s main blue-chip index for the Eurozone, gives a blue-chip illustration of supersector leaders within the area. The index covers 50 shares from eight Eurozone nations: Belgium, Finland, France, Germany, Eire, Italy, the Netherlands and Spain.

The DAX Index tracks the efficiency of the 40 largest corporations listed on the Regulated Market of the Frankfurt Inventory Alternate that fulfill sure minimal high quality and profitability necessities. Constituent choice is predicated on free float market capitalization.

B3 will launch the futures contracts primarily based on EURO STOXX 50 and DAX in December. The sizes of futures contracts would be the worth of the EURO STOXX 50 Index multiplied by the worth in euros of every level, with every level equal to 10 euros and the worth of the DAX Index multiplied by the worth in euros of every level, with every level equal to 5 euros The expiration date would be the third Friday of the months of March, June, September and December.

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SOURCE Qontigo

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