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Dnb NOR (DNBNOR) DERIVATIVES, OSLO BØRS JUNE 2010 The OBX declined by 4.4% in June, to 299.43 points. So far this year, the index is down 11.8%. The average number of contracts traded in June was 52 406 contracts/day (2010 average: 58 943). The June turnover fell from the record levels in May. The premium turnover for stock options fell 37% to 89 MNOK, whereas the stock forward exposure decreased by 28% to 619 MNOK. As for the OBX products, the future turnover fell 9% to 24.2 BNOK, and the index options increased 3% to 70 MNOK. The OBX index constituents were revised in June, and Schibsted and Norwegian Property left the index, whereas Questerre Energy Corp and Kongsberg Automotive entered. The most traded stock option in May was Yara with 24 MNOK or 27% of the stock option premium turnover. Statoil and Seadrill followed. Statoil was the most traded stock forward/future with 242 MNOK, 39% of the total turnover. Seadrill and Norsk Hydro followed. Expirations in June: OBX, Statoil, Norske Skog, Tomra, Marine Harvest, Seadrill. Expirations next month (15 July): OBX, Statoil, Acergy, Orkla, Petroleum Geo-Services, Telenor, Renewable Energy Corp, Royal Caribbean Cruises and TGS-Nopec. 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 80 000 75 000 70 000 65 000 60 000 55 000 50 000 45 000 40 000 Index Futures 35 000 Single Stock 30 000 Fwd/Fut Contracts/day OBX Index Options 25 000 Stock Options 20 000 15 000 10 000 5 000 0 Jul 09 Aug 09 Sep 09 Oct 09 Nov 09 Dec 09 Jan 10 Feb 10 Mar 10 Apr 10 May 10 Jun 10 TURNOVER - CONTRACTS/DAY (average) Contracts/day last month OBX - FUTURES 33 551 STOCK OPTIONS 10 306 STOCK FWD/FUT 4 709 OBX - OPTIONS 3 839 Contracts/day YTD 2010 OBX - FUTURES 35 637 STOCK OPTIONS 13 916 STOCK FWD/FUT 6 244 OBX - OPTIONS 3 146 LIQUIDITY - OPTION PREMIUM DISTRIBUTION Option Premium last month OBX - options Yara International 14.0 % Statoil 6.1 % Seadrill 4.3 % Petroleum Geo-Services 3.7 % 14.9 % Norsk Hydro 2.9 % 2.6 % Renewable Energy Corp. 2.3 % Acergy 1.6 % Royal Caribbean C. 1.2 % Telenor 1.2 % 0.4 % Orkla 0.4 % 0.2 % DnB NOR 0.2 % Norske Skog Marine Harvest Group Storebrand 43.9 % Tomra Option Premium YTD 2010 6.5 % OBX - options 6.2 % Yara International 5.6 % 16.4 % Statoil Norsk Hydro 4.3 % Renewable Energy Corp. 3.3 % Seadrill 3.2 % Telenor Orkla 2.5 % 2.3 % Petroleum Geo-Services 1.2 % DnB NOR 0.9 % Acergy 0.5 % 0.5 % Royal Caribbean Cruises 18.5 % 0.1 % Marine Harvest Group Norske Skog Storebrand 27.9 % Tomra 4 SINGLE STOCK FORWARD/FUTURE - EXPOSURE DISTRIBUTION Stock Fwd/Fut Premium last month 12.5 % Statoil 7.8 % Seadrill Norsk Hydro 23.6 % Royal Caribbean C. 4.0 % Telenor Renewable Energy Corp. 3.7 % Marine Harvest Group Orkla Petroleum Geo-Services 1.92.6 % % Yara International 1.7 % 1.7 % TGS Nopec Geo. 0.8 % 0.2 % Acergy 0.2 % Norske Skog 0.2 % 0.0 % DnB NOR 0.0 % Tomra Storebrand 39.1 % Stock Fwd/Fut Premium YTD 2010 Statoil 9.7 % 9.0 % Norsk Hydro 7.5 % Telenor Yara International 11.1 % 5.2 % Seadrill Royal Caribbean Cruises 3.7 % Renewable Energy Corp. Orkla 2.5 % 1.8 % DnB NOR 1.4 % Petroleum Geo-Services 1.3 % TGS Nopec Geo. 0.7 % Marine Harvest Group 0.7 % Acergy 13.7 % 0.4 % Tandberg 0.1 % Storebrand 0.0 % Norske Skog Tomra 31.3 % 5 PREMIUM - SINGLE STOCK DERIVATIVES Single Stock Options 160 600 000 140 148 142 500 000 120 131 119 400 000 100 100 Contracts - 80 91 300 000 92 97 89 83 60 67 66 200 000 40 Turnover Premium MNOK 100 000 Open Open Interest (avg) 20 0 0 Jul 09 Aug 09 Sep 09 Oct 09 Nov 09 Dec 09 Jan 10 Feb 10 Mar 10 Apr 10 May 10 Jun 10 Turnover premium/month - Stock Options Open Interest (avg) - Stock Options Single Stock Forwards & Futures 1 400 300 000 1 200 250 000 1 130 1 1 222 1 1 000 200 000 982 1 003 1 800 Contracts 785 - 806 150 000 860 686 600 619 100 000 400 428 502 447 Turnover Premium MNOK 50 000 200 Open Interest (avg) 0 0 Jul 09 Aug 09 Sep 09 Oct 09 Nov 09 Dec 09 Jan 10 Feb 10 Mar 10 Apr 10 May 10 Jun 10 Turnover premium/ month - Single Stock Fwds Open Interest (avg) - Single Stock Fwds 6 PREMIUM - OBX DERIVATIVES OBX - Index Options 80 70 000 70 60 000 70 68 60 50 000 59 50 54 40 000 Contracts - 40 57 30 000 38 38 30 32 20 000 20 Turnover Premium MNOK 36 20 19 21 10 000 Open Interest(avg) 10 0 0 Jul 09 Aug 09 Sep 09 Oct 09 Nov 09 Dec 09 Jan 10 Feb 10 Mar 10 Apr 10 May 10 Jun 10 Turnover premium/ month - OBX-indexoptions Open Interest (avg) - OBX-indexoptions OBX - Index Futures 30 000 300 000 25 000 250 000 26 662 26 24 167 24 23 800 23 23 291 23 20 000 200 000 21 235 21 21 796 21 22 871 22 20 344 20 24 173 24 19 210 19 21 489 21 Contracts 15 000 150 000 - 18 877 18 10 000 100 000 Turnover exposureMNOK 5 000 50 000 Open Interest(avg) 0 0 Jul 09 Aug 09 Sep 09 Oct 09 Nov 09 Dec 09 Jan 10 Feb 10 Mar 10 Apr 10 May 10 Jun 10 Turnover exposure/month - OBX-indexfutures Open Interest (avg) - OBX-indexfutures 7 BROKER STATISTICS - JUNE 2010 Options 6.8 % 18.1 % 6.5 % 3.0 % 2.4 % Non-Norwegian 2.0 % DnB NOR 1.5 % SEB Enskilda 1.4 % Nordea Handelsbanken 1.3 % Pareto Argo 0.5 % Nordnet First Carnegie 25.2 % Net Fonds Fondsfinans 30.7 % Stock Forwards & Futures DnB NOR First 97.0 % 1.7 % Handelsbanken 0.6 % 0.4 % Terra Markets 0.2 % Nordea 8 OBX Futures 6.5 % 5.6 % 33.5 % 4.5 % DnB NOR Handelsbanken Non-Norwegian 3.3 % Erik Penser SEB Enskilda Nordea 2.7 % Argo ABG Sundal Collier 0.6 % First 0.5 % 41.8 % 9 OBX INDEX - CONSTITUENTS AND OTHER INFORMATION The OBX Index consists of the 25 most traded securities in the OSEBX Index. 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. 30.06.10: 299.43 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 OPEN INTEREST - OPTIONS AND OBX FUTURES ONLY 12 Marine Harvest Group Sector : Packaged Foods & Meats MARINE HARVEST is the world's leading Last (NOK): 4.37 (MHG) seafood company. They offer customers 30202030 and consumers a wide range of seafood ISIN: NO 000 305 4108 Avg.Imp.Vol last month: 38 % products and produce one fourth of the world's farmed salmon. The company is Reuters : MHG.OL Expiry: Mar, Jun, Sep, Dec present in 18 countries and has 7500 employees worldwide. Bloomberg : MHG NO Open Int (avg): 57 878 Home: www.marineharvest.com Liquidity: Tradable in blocks of 10 000 OBX Weight: 2.04% O/I avg. 2010: 65 014 Domicile: Norway contracts. Derivatives : Options & Fwd/Fut Market Maker(s): 3 Norsk Hydro (NHY) Sector : Aluminium 15104010 Last (NOK): 29.88 NORSK HYDRO is a global supplier of aluminium and aluminium products. Based ISIN: NO 000 505 2605 Avg.Imp.Vol last month: 42 % in Norway, the company employs 25,000 Reuters : NHY.OL Expiry: Feb, May, Aug, Nov people in more than 30 countries. Home: www.norskhydro.com Bloomberg : NHY NO and NOHYF US Open Int (avg): 56 482 Liquidity: Tradable in blocks of 3000 OBX Weight : 4.02% O/I avg. 2010: 53 175 contracts. Domicile: Norway Derivatives : Options & Fwd/Fut Market Maker(s): 6 Sector: Paper Products Norske Skog (NSG) Last (NOK): 7.15 NORSKE SKOG is one of the world's 15105020 biggest producers of publication ISIN: NO 000 413 5633 Avg.Imp.Vol last month: 62 % paper, with 14 paper mills in 11 countries and a production capacity of Reuters: NSG.OL Expiry: Mar, Jun, Sep, Dec around 4.5 mill. tonnes per year. 18 Home: www.norskeskog.com Bloomberg: NSG NO Open Int (avg): 499 19 OBX Weight: N/A O/I avg.
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