Amsterdam, Netherlands, November 24, 2010 --(PR.com
)-- The Amsterdam Commodities Exchange (http://acomex.nl), today announced that it will launch its new alternative energy equity index futures contract, beginning on December 1 for trade date January 1. This contract was previously scheduled to launch on October but was postponed.
The contract will be based on the Adour Global XL Index, which is comprised of 30 well-capitalized, liquid and publicly traded companies, and seeks to provide exposure to a range of businesses that contribute to the growth and development of the alternative energy industry.
The contract will be cash-settled, and the commodity code will be AX Four initial months will be listed on a March, June, September, and December cycle beginning with December 2011. The minimum price fluctuation will be $0.60 per index point, and the contract value will be $36 times the cash index. Final settlement will be on the third Friday of the delivery month. Trading on the expiring contract will end as of the close of trading on evening prior to final settlement.
Formed by independent oil and gas traders in the BeNeLux in 2002 and with trading facilities in Amsterdam added in 2005, The ACOMEX was developed as a private commodities exchange to facilitate Real Time Trading throughout Europe.
Allowing traders to receive current market prices without having to pay the exorbitant spreads, and fees, of Globex pricing charged by the CME and the EURONEX during their after-hours trading.