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Dnb NOR (DNBNOR) DERIVATIVES, OSLO BØRS - JULY 2013 The OBX index fell 5% to 431.03 points in June. So far this year the index is up 5%. During the half yearly June revision of the OBX, Songa exited the index whereas Polarcus entered. The average number of contracts traded in June was 62 821 contracts/day, the highest since June 2011! The average for the year is 45 755 contracts/day. June has been a good month, and the turnover increased for all groups. The stock option premium increased by 26% to 83 MNOK, the highest since February 2012 (2013 avg: 63 MNOK). The forward exposure rose by 85% to 988 MNOK (2013 avg: 762 MNOK). As for the index products, the OBX option premium increased by 52% to 47 MNOK (2013 avg: 38 MNOK), and the index future turnover rose by 18% to 14.5 BNOK, the highest this year (2013 avg: 12.9 BNOK). The most traded stock option in June was Subsea 7 with 17 MNOK or 21% of the total stock option premium turnover. Statoil and Yara followed. The top three stock derivatives accounted for 48% of the total stock option turnover for the month. Norsk Hydro, Yara and Statoil were the most traded stock forwards. Norsk Hydro had a turnover of 187 MNOK, 19% of the total. Options and forwards/futures on Norwegian Air Shuttle (NAS) were offered from June 17th. June 20th was the last listing day of standardised derivatives on Tomra (TOM). 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. This report will not be updated if any changes occur due to cancellations. The presentation does not in any way constitute a recommendation by Oslo Børs. Contract Distribution 70 000 65 000 60 000 55 000 50 000 45 000 40 000 35 000 Index Futures 30 000 Single Stock Fwd/Fut Contracts/ Contracts/ day 25 000 OBX Index Options 20 000 Stock Options 15 000 10 000 5 000 0 Jun 12 Jul 12 Aug 12 Sep 12 Oct 12 Nov 12 Dec 12 Jan 13 Feb 13 Mar 13 Apr 13 May 13 Jun 13 TURNOVER - CONTRACTS/DAY (average) Contracts/day last month OBX - FUTURES 16 624 STOCK FWD/FUT 28 391 STOCK OPTIONS 13 751 OBX - OPTIONS 4 056 Contracts/day YTD 2013 OBX - FUTURES 14 646 STOCK FWD/FUT 13 594 STOCK OPTIONS 13 603 OBX - OPTIONS 3 911 LIQUIDITY - OPTION PREMIUM DISTRIBUTION OBX Options Option Premium last month Subsea 7 5.5 % 5.0 % Statoil 6.0 % 4.3 % 2.9 % Yara International 2.9 % Storebrand 11.6 % 2.9 % DNB 2.7 % Petroleum Geo-Services 2.6 % Seadrill Telenor 13.1 % 1.4 % Norsk Hydro 1.3 % Royal Caribbean Cruises 0.7 % TGS Nopec Geophysical Co. Aker Solutions 0.4 % Norwegian Air Shuttle 0.3 % Renewable Energy Corp 0.2 % Gjensidige Forsikring 0.1 % Marine Harvest Group 0.1 % Orkla 36.0 % DNO International Norske Skog OBX Options Option Premium YTD 2013 Statoil 6.2 % 6.6 % Yara International 4.8 % DNB 8.7 % 3.4 % Subsea 7 3.4 % Storebrand 12.1 % 3.3 % Seadrill 2.8 % 2.5 % Norsk Hydro Telenor 2.3 % TGS Nopec Geophysical Co. 2.3 % Petroleum Geo-Services 1.1 % Aker Solutions 1.1 % Royal Caribbean Cruises Marine Harvest Group 0.9 % Gjensidige Forsikring 0.7 % Renewable Energy Corp 0.3 % 0.1 % Orkla 0.1 % Norwegian Air Shuttle 0.0 % DNO International 37.3 % Norske Skog Tomra 4 SINGLE STOCK FORWARD/FUTURE - EXPOSURE DISTRIBUTION Norsk Hydro Stock Fwd/Fut Premium last month Yara International 6.5 % 5.6 % Statoil 10.3 % Renewable Energy Corp 5.3 % 5.0 % Petroleum Geo-Services Telenor 3.4 % Gjensidige Forsikring 3.2 % 17.1 % Royal Caribbean Cruises Seadrill 3.0 % Subsea 7 Aker Solutions 1.3 % DNB 1.1 % Marine Harvest Group 0.6 % Norwegian Air Shuttle 0.5 % Storebrand 0.5 % DNO International 0.0 % Orkla 0.0 % 19.0 % Norske Skog 0.0 % 17.8 % TGS Nopec Geophysical Co. Stock Fwd/Fut Premium YTD 2013 Norsk Hydro Statoil Yara International 7.2 % 6.6 % 5.3 % Seadrill 11.1 % 4.2 % Telenor 3.8 % Royal Caribbean Cruises 3.6 % Petroleum Geo-Services Subsea 7 11.5 % 3.4 % Renewable Energy Corp Aker Solutions 2.5 % DNB 0.9 % 0.9 % Gjensidige Forsikring 0.5 % Storebrand 0.2 % Marine Harvest Group 0.2 % TGS Nopec Geophysical Co. 15.5 % 0.1 % Orkla 0.0 % DNO International 22.4 % Norwegian Air Shuttle Norske Skog 5 PREMIUM - SINGLE STOCK DERIVATIVES Single Stock Options 90 700 000 80 83 600 000 70 68 71 66 500 000 60 60 59 59 55 400 000 Contracts 50 56 53 57 - 40 43 300 000 36 30 200 000 Turnover Turnover Premium MNOK 20 100 000 Open Interest (avg) 10 0 0 Jun 12 Jul 12 Aug 12 Sep 12 Oct 12 Nov 12 Dec 12 Jan 13 Feb 13 Mar 13 Apr 13 May 13 Jun 13 Turnover Premium Open Interest (avg) Single Stock Forwards & Futures 1 200 700 000 1 131 1 1 017 1 600 000 1 000 988 500 000 800 806 773 400 000 Contracts - 600 647 564 300 000 533 453 502 400 436 401 200 000 296 Turnover Turnover Premium MNOK 200 100 000 Open Interest (avg) 0 0 Jun 12 Jul 12 Aug 12 Sep 12 Oct 12 Nov 12 Dec 12 Jan 13 Feb 13 Mar 13 Apr 13 May 13 Jun 13 Turnover Premium Open Interest (Avg) 6 PREMIUM - INDEX DERIVATIVES OBX - Index Options 60 90 000 80 000 50 52 70 000 47 47 46 40 44 60 000 37 50 000 Contracts 34 - 30 32 32 31 31 40 000 28 20 30 000 21 Turnover Turnover Premium MNOK 20 000 10 Open Interest Open Interest (avg) 10 000 0 0 Jun 12 Jul 12 Aug 12 Sep 12 Oct 12 Nov 12 Dec 12 Jan 13 Feb 13 Mar 13 Apr 13 May 13 Jun 13 Turnover premium / month Open interest (avg) Index Futures 30 000 140 000 120 000 25 000 100 000 20 000 18 719 18 19 617 19 80 000 Contracts 17 095 17 15 000 - 18 781 18 14 544 14 15 511 15 13 335 13 60 000 13 893 13 12 060 12 12 294 12 10 000 712 12 12 798 12 40 000 12 277 12 Turnover Turnover exposure MNOK 5 000 Open Interest (avg) 20 000 0 0 Jun 12 Jul 12 Aug 12 Sep 12 Oct 12 Nov 12 Dec 12 Jan 13 Feb 13 Mar 13 Apr 13 May 13 Jun 13 Turnover exposure MNOK Open Interest (avg) 7 BROKER STATISTICS - JULY 2013 Turquoise Equity Options 12.8 % DNB Bank ASA 10.0 % Enskilda Securities 4.0 % 2.7 % Danske Bank AS 1.8 % Nordnet Bank AB 1.1 % 0.7 % Sparebank 1 Markets 0.7 % AS 0.2 % First Securities ASA 29.7 % 0.1 % Nordea Markets Handelsbanken Capital Markets NetFonds AS Carnegie ASA 36.2 % Pareto Securities AS Index Options Enskilda Securities 16.5 % Turquoise 7.9 % DNB Bank ASA 3.2 % 2.8 % 19.1 % 2.4 % Danske Bank AS 1.8 % NetFonds AS 1.7 % 0.6 % First Securities ASA Nordnet Bank AB 0.3 % Sparebank 1 Markets AS Pareto Securities AS Nordea Markets 43.7 % Handelsbanken Capital Markets 8 Stock Forwards & Futures 92.4 % DNB Bank ASA Handelsbanken Capital Markets Turquoise 3.4 % 1.6 % Carnegie ASA 1.5 % Sparebank 1 Markets 1.0 % AS 0.1 % Danske Bank AS Index Futures 11.6 % 9.6 % DNB Bank ASA Turquoise 4.7 % 17.0 % 3.7 % ABG Sundal Collier Norge ASA Sparebank 1 2.3 % Markets AS Handelsbanken 1.2 % Capital Markets Danske Bank AS 0.1 % Enskilda Securities 0.1 % Nordea Markets 0.1 % Carnegie ASA Nordnet Bank AB RS Platou Markets AS 20.0 % 29.5 % Arctic Securities ASA "Turquoise" is a composite entry and includes all derivatives members at Turquoise 9 OBX INDEX - CONSTITUENTS AND OTHER INFORMATION The OBX Index consists of the 25 most traded equities, and 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 first Friday after the third Thursday 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. 28.06.13: 431.03 All time high (22.05.08 close): 462.70 10 The current OBX and OBOSX Index composition can be found below. The Derivatives department at Oslo Børs distributes a daily report with information on the indices and their components. If you would like to receive this daily update, please contact [email protected]. Date: 1. jul. 2013 OBX OBOSX Close - prev. day: 431.03 108.59 OBOSX weight of OBX: 20.86 % Divisor: 1 582 203 697 1 310 216 975 USDNOK: 6.07 Weight % Weight % Close Last Day Dividend Dividend Last Update Free Float Free Float Multiplier Multiplier Value Ticker Company Name in OBX in OBOSX Prev.
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