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Dnb NOR (DNBNOR) Services Group with Total Combined Assets 65,00 of NOK 1470 Billion

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Dnb NOR (DNBNOR) Services Group with Total Combined Assets 65,00 of NOK 1470 Billion DERIVATIVES, OSLO BØRS - NOVEMBER 2009 The OBX index has increased for five consecutive months. The index rose 9% in November, from 299.29 to 326 points, and so far this year the OBX is up almost 64%. The premium turnover fell in November. The stock options decreased by 23% to 92 MNOK and the stock forwards fell by 20% to 806 MNOK. The open interest, however, increased for both options and forwards. The OBX futures turnover fell slightly in November (3%) from 21.8 BNOK to 21.2 BNOK, whereas the OBX options decreased by 33% to 38 MNOK. The average number of contracts traded in November was 49 400 contracts/day, whereas the average for the year is 54 082 contracts/day. The most traded stock option in October was Statoil with 26 MNOK or 28% of the stock option premium turnover. Yara and Seadrill followed with 27.7% and 12% of the total. Tandberg was the most traded stock forward followed by Statoil and Norsk Hydro. They had 23%, 18% and 17% of the total forward exposure respectively. Expirations in November: OBX, Statoil, DnB NOR, Norsk Hydro, Storebrand, Tandberg and Yara. Expirations next month (17 December): OBX, Statoil, Norske Skog, Tomra, Marine Harvest and Seadrill. For more detailed information, please read ahead This summary continues with a presentation of general statistics, followed by a product- and volatility overview towards the end. We hope to see you back in the derivatives market next month. Disclaimer: All information in this presentation is obtained from documents already available to the public. Oslo Børs does not guarantee the accuracy of the information included in the presentation. The presentation does not in any way constitute a recommendation by Oslo Børs. Contract Distribution 75 000 70 000 65 000 60 000 55 000 50 000 45 000 40 000 35 000 Index Futures Single Stock Fwd. 30 000 OBX Index Options Contracts/day 25 000 Stock Options 20 000 15 000 10 000 5 000 0 Dec 08 Jan 09 Feb 09 Mar 09 Apr 09 May 09 Jun 09 Jul 09 Aug 09 Sep 09 Oct 09 Nov 09 TURNOVER - CONTRACTS/DAY (average) Contracts/Day last month OBX - FUTURES 31 454 STOCK OPTIONS 10 043 STOCK FORWARDS 5 232 OBX - OPTIONS 2 670 Contracts/Day YTD 2009 OBX - FUTURES 36 135 STOCK OPTIONS 10 321 STOCK FORWARDS OBX - OPTIONS 4 604 3 023 LIQUIDITY - OPTION PREMIUM DISTRIBUTION Option Premium last month OBX - options Statoil 8.2 % 19.6 % Yara International 4.5 % Seadrill 4.5 % Tandberg Norsk Hydro 3.9 % Renewable Energy Corp. 3.4 % Telenor 1.8 % 1.7 % Acergy 0.8 % Orkla 0.8 % 0.7 % DnB NOR 0.5 % 0.4 % Marine Harvest Group 20.1 % 0.0 % Petroleum Geo-Services Norske Skog Storebrand 29.2 % Tomra Option Premium YTD 2009 6.7 % OBX - options Statoil 16.2 % 5.2 % 5.1 % Yara International Seadrill 3.9 % Norsk Hydro Renewable Energy Corp. 3.7 % 2.8 % Telenor DnB NOR 2.4 % 1.5 % Tandberg 1.3 % Orkla 0.9 % Petroleum Geo-Services 0.8 % 19.1 % 0.6 % Acergy 0.1 % Storebrand Norske Skog Marine Harvest Group 29.7 % Tomra 4 SINGLE STOCK FORWARDS - EXPOSURE DISTRIBUTION Stock Forward Premium last month 13.8 % 8.3 % Tandberg Statoil Norsk Hydro 6.0 % DnB NOR 16.5 % Telenor 3.9 % Royal Caribbean C. 3.6 % Renewable Energy Corp. Yara International 3.3 % Seadrill Orkla 1.9 % Storebrand 0.8 % Petroleum Geo-Services 0.7 % 0.5 % Marine Harvest Group 0.1 % Acergy 17.6 % 0.0 % Norske Skog 0.0 % TGS Nopec Geo. 0.0 % Tomra 23.0 % Stock Forward Premium YTD 2009 Statoil 7.5 % 10.6 % 6.1 % Yara International Norsk Hydro 5.6 % Telenor Renewable Energy Corp. 4.8 % Tandberg 11.8 % Orkla 4.3 % DnB NOR Royal Caribbean Cruises 3.2 % Seadrill 2.2 % Petroleum Geo-Services 0.7 % Marine Harvest Group 0.4 % Norske Skog 0.4 % Acergy 0.3 % Storebrand 0.0 % 12.8 % Tomra 0.0 % TGS Nopec Geo. 29.2 % 5 PREMIUM - SINGLE STOCK DERIVATIVES Single Stock Options 140 500 000 450 000 120 119 400 000 119 100 105 350 000 106 100 94 300 000 91 92 80 88 Contracts 84 - 250 000 60 67 66 200 000 40 150 000 Turnover Premium MNOK 100 000 20 Open Interest (avg) 50 000 0 0 Dec 08 Jan 09 Feb 09 Mar 09 Apr 09 May 09 Jun 09 Jul 09 Aug 09 Sep 09 Oct 09 Nov 09 Turnover premium/month - Stock Options Open Interest (avg) - Stock Options Single Stock Forwards 1 200 80 000 70 000 1 000 1 003 1 60 000 800 793 50 000 806 Contracts - 600 40 000 502 30 000 447 400 428 466 502 364 382 408 20 000 Turnover Premium MNOK 200 10 000 Open Interest (avg) 162 0 0 Dec 08 Jan 09 Feb 09 Mar 09 Apr 09 May 09 Jun 09 Jul 09 Aug 09 Sep 09 Oct 09 Nov 09 Turnover premium/ month - Single Stock Fwds Open Interest (avg) - Single Stock Fwds 6 PREMIUM - OBX DERIVATIVES OBX - Index Options 60 70 000 57 60 000 50 54 49 50 000 40 42 38 40 000 48 38 36 Contracts - 30 33 30 000 20 20 21 20 000 30 Turnover Premium MNOK 10 10 000 Open Interest(avg) 0 0 Dec 08 Jan 09 Feb 09 Mar 09 Apr 09 May 09 Jun 09 Jul 09 Aug 09 Sep 09 Oct 09 Nov 09 Turnover premium/ month - OBX-indexoptions Open Interest (avg) - OBX-indexoptions OBX - Index Futures 30 000 230 000 25 000 220 000 21 489 21 20 000 235 21 210 000 21 978 21 21 796 21 20 344 20 Contracts 17 414 17 18 877 18 15 000 200 000 - 16 643 16 19 369 19 14 591 14 16 116 16 10 000 190 000 14 220 14 Turnover exposureMNOK 5 000 180 000 Open Interest(avg) 0 170 000 Dec 08 Jan 09 Feb 09 Mar 09 Apr 09 May 09 Jun 09 Jul 09 Aug 09 Sep 09 Oct 09 Nov 09 Turnover exposure/month - OBX-indexfutures Open Interest (avg) - OBX-indexfutures 7 BROKER STATISTICS - NOVEMBER 2009 Only companies with more than 0,5% of the total market share are shown. Options 10.6 % 8.2 % 3.0 % Non-Norwegian 28.4 % 2.7 % DnB NOR 1.8 % SEB Enskilda 1.1 % Handelsbanken 0.6 % 0.5 % Net Fonds Carnegie Pareto Nordea Argo Danske Bank 42.5 % Forwards 6.4 % DnB NOR 4.9 % Non-Norwegian 1.8 % Handelsbanken 1.8 % Nordea First 84.7 % 8 OBX Futures 36.5 % 13.3 % Handelsbanken DnB NOR 2.2 % Non-Norwegian 1.8 % Nordea 1.0 % Argo SEB Enskilda 43.9 % 9 OBX INDEX - CONSTITUENTS AND OTHER INFORMATION The OBX Index consists of the 25 most traded securities in the OSEBX Index (currently 24 due to Tandberg offer). The constituents are selected on the basis of six months turnover rating. It is a semi-annually revised free float adjusted total return index (dividend adjusted) with composition changes and cappings implemented on the third Friday in June and December. In the period between the composition review dates, the number of shares for each constituent is fixed with exception of cappings and continuous adjustments for corporate actions. The OBX Index is a tradable index with exchange traded futures and options available. 30.11.09: 326.00 All time high (22.05.08 close): 462.70 10 The current OBX Index composition can be found below. The Derivatives department at Oslo Børs distributes a daily report with information on the OBX Index and its components. If you would like to receive this daily update, please send “Request for OBX Morning Report” to [email protected]. 11 OSLO BØRS - LISTED DERIVATIVES (as of 30 Nov 2009) OPEN INTEREST - OPTIONS AND OBX FUTURES ONLY The OBX Index consists of the 25 most Sector: N/A Last (NOK): OBX Index (OBX) traded securities in the OSEBX Index. The 326,00 constituents are selected on the basis of ISIN: NO 000 000 0021 Avg.Imp.Vol last month: 29% six months turnover rating (Jun & Dec). It is a semi-annually revised, free float Reuters: .OBX Expiry: Each Month adjusted total return index (dividend Open Int Options (avg): 46 866 adjusted). Home: www.oslobors.no Bloomberg: OBX NO Open Int Fut (avg): 206 695 Liquidity: Tradable in blocks of O/I Options avg. 2009: 41 067 Weight of All Shares: 42,14% Around 3000 contracts. O/I Fut avg. 2009: 205 590 Domicile: Norway Derivatives: Options & Futures Market Maker(s): 7 Acergy S.A. is a seabed-to-surface Sector: Oil & Gas Equipment & Last (NOK): Acergy (ACY) engineering and construction contractor Services 10101020 85,60 for the offshore oil and gas industry ISIN: LU 007 564 6355 Avg.Imp.Vol last month: 42% worldwide. Reuters: ACY.OL Expiry: Jan, Apr, Jul, Oct Home: www.acergy-group.com Bloomberg: ACY NO Open Int (avg): 6 570 Liquidity: OBX Weight: 2,91% O/I avg. 2009: 4 954 Tradable in blocks of 500-1000 contracts. Domicile: Luxembourg Derivatives: Options & Fwd/Fut Market Maker(s): 3 DnB NOR is Norway's leading financial Sector: Diversified Banks 40101010 Last (NOK): DnB NOR (DNBNOR) services group with total combined assets 65,00 of NOK 1470 billion. ISIN: NO 001 003 1479 Avg.Imp.Vol last month: 41% Home: www.dnbnor.com Reuters: DNB.OL Expiry: Feb, May, Aug, Nov Bloomberg: DNB NO Open Int (avg): 48 489 Liquidity: Tradable in blocks of 1000-3000 OBX Weight: 8,76% O/I avg.
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