DERIVATIVES, OSLO BØRS - OCTOBER 2015 During October, the OBX index regained some of its previous loss and increased 6.1% to 549.11. So far this year the index is up 4.9%. The average number of contracts traded in October was 49 980 contracts/day. The average year-todate is 39 749, whereas the average for 2014 was 47 289. The stock option premium increased by 42% to 116 MNOK in October (2015 avg: 89 MNOK), whereas the forward exposure fell by 62% to 428 MNOK (2015 avg: 900 MNOK). As for the index turnover, the OBX option premium fell by to 43 MNOK (2015 avg: 48 MNOK), whereas the index future turnover increased slightly by 1.4% to 13.3 BNOK (2015 avg: 13.3 BNOK). The most traded single stock option in October was Norsk Hydro with 35 MNOK, 31% of the total stock option premium turnover. Statoil and Storebrand followed with a turnover of 31 and 9 MNOK respectively. The top three stock derivatives accounted for 65% of the total stock option turnover for the month. DNB, Norwegian and Statoil were the most traded stock forwards, accounting for 47% of the total exposure. DNB had a turnover of 71 MNOK, 17% of the total. Starting October 1 st, Oslo Børs now offers derivatives (options and forwards/futures) on Nordic Semiconductor (NOD). With effect October 5 th, Oslo Børs changed the trading hours for the OBX futures to 09:00-16:20 CET (from 08:30-16:20 CET). Royal Caribbean Cruises (RCL) has applied for delisting. Following this, Oslo Børs currently offers November and December 2015 derivatives expiries only. Please note that Oslo Børs will remove the OBOSX capping as of the next revision December 18 th. From this date the constituents will be included in the OBOSX index with their free float number of shares. Oslo Børs offers standardised options and forwards/futures on 21 stocks and the OBX index. In addition, there are futures listed on the OBOSX index. There are eight market makers in Norwegian derivatives. 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.
Contracts/ day Contract Distribution 80 000 75 000 70 000 65 000 60 000 55 000 50 000 45 000 40 000 35 000 30 000 25 000 20 000 Index Futures Single Stock Fwd/Fut OBX Index Options Stock Options 15 000 10 000 5 000 0 Oct 14 Nov 14 Dec 14 Jan 15 Feb 15 Mar 15 Apr 15 May 15 Jun 15 Jul 15 Aug 15 Sep 15 Oct 15
TURNOVER - CONTRACTS/DAY (average) Contracts/day last month OBX - OPTIONS 2 545 STOCK FWD/FUT 5 344 INDEX - FUTURES 11 095 STOCK OPTIONS 23 996 Contracts/day YTD 2015 INDEX - FUTURES 11 446 STOCK FWD/FUT 11 105 OBX - OPTIONS 2 734 STOCK OPTIONS 14 464
LIQUIDITY - OPTION PREMIUM DISTRIBUTION 22.2 % 19.7 % Option Premium last month 5.4 % 4.7 % 3.3 %2.9 % 2.7 % 27.1 % 0.2 % 0.2 % 0.2 % 0.0 % 2.7 % 2.5 % 1.7 % 1.4 % 0.8 % 0.8 % 0.5 % 0.5 % 0.4 % 0.3 % OBX Options Norsk Hydro Statoil Storebrand Yara International Marine Harvest Group Seadrill Norwegian Air Shuttle DNB Telenor Subsea 7 Opera Software Royal Caribbean Cr. Petroleum Geo-Services Nordic Semiconductor TGS Nopec Geoph. Orkla Gjensidige Forsikring REC Silicon Aker Solutions DNO International Norske Skog 17.6 % 35.2 % Option Premium YTD 2015 8.8 % 8.1 % 5.2 % 4.8 % 3.4 % 2.7 % 2.6 % 2.5 % 1.6 % 1.7 % 1.3 % 1.2 % 1.1 % 0.9 % 0.4 % 0.4 % 0.2 % 0.2 % 0.1 % 0.1 % OBX Options Statoil Norsk Hydro Yara International DNB Storebrand Norwegian Air Shuttle Seadrill Telenor Marine Harvest Group Subsea 7 Opera Software TGS Nopec Geoph Petroleum Geo-Serv Royal Caribbean Cr DNO International REC Silicon Orkla Aker Solutions Gjensidige Forsikring Norske Skog Nordic Semiconductor
SINGLE STOCK FORWARD/FUTURE - EXPOSURE DISTRIBUTION 14.4 % Stock Fwd/Fut Premium last month 8.0 % 5.8 % 4.5 % 14.2 % 3.7 % 3.2 % 3.2 % 2.4 % DNB Norwegian Air Shuttle Statoil Norsk Hydro Marine Harvest Group Gjensidige Forsikring Telenor Storebrand DNO International 15.8 % 16.7 % 1.9 % 1.5 % 1.5 % 1.4 % 1.2 % 0.5 % 0.1 % 0.1 % Nordic Semiconductor Yara International REC Silicon Subsea 7 Opera Software Petroleum Geo-Services Seadrill Orkla Aker Solutions Royal Caribbean Cruises 6.6 % 7.3 % 7.4 % 10.8 % Stock Fwd/Fut Premium YTD 2015 6.0 % 5.3 % 4.8 % 3.8 % 3.7 % 3.2 % 2.7 % 2.6 % 2.6 % 1.6 % 1.2 % 0.7 % 0.7 % Norsk Hydro Norwegian Air Shuttle Seadrill Statoil TGS Nopec Geoph. Marine Harvest Group Petroleum Geo-Services Gjensidige Forsikring DNO International DNB Telenor Yara International Subsea 7 Opera Software REC Silicon Storebrand Orkla 28.5 % 0.1 % 0.2 % 0.1 % Royal Caribbean Cr Nordic Semiconductor Aker Solutions Norske Skog
Turnover Premium MNOK Open Interest (avg) - Contracts Turnover Premium MNOK Open Interest (avg) - Contracts PREMIUM - SINGLE STOCK DERIVATIVES Single Stock Options 250 800 000 200 200 700 000 600 000 150 159 500 000 100 131 113 122 116 400 000 300 000 50 78 77 75 53 67 58 82 200 000 100 000 0 Oct 14 Nov 14 Dec 14 Jan 15 Feb 15 Mar 15 Apr 15 May 15 Jun 15 Jul 15 Aug 15 Sep 15 Oct 15 0 Turnover Premium Open Interest (avg) Single Stock Forwards & Futures 3 000 400 000 2 500 350 000 2 000 2 573 300 000 250 000 1 500 1 000 500 0 428 1 118 416 363 910 413 911 1 014 753 1 501 786 873 Oct 14 Nov 14 Dec 14 Jan 15 Feb 15 Mar 15 Apr 15 May 15 Jun 15 Jul 15 Aug 15 Sep 15 Oct 15 200 000 150 000 100 000 50 000 0 Turnover Premium Open Interest (Avg)
Turnover exposure MNOK Open Interest (avg)- Contracts Turnover Premium MNOK Open Interest (avg)- Contracts PREMIUM - INDEX DERIVATIVES OBX - Index Options 180 120 000 160 140 169 100 000 120 132 120 80 000 100 60 000 80 60 40 20 0 61 58 61 43 36 29 23 20 21 21 Oct 14 Nov 14 Dec 14 Jan 15 Feb 15 Mar 15 Apr 15 May 15 Jun 15 Jul 15 Aug 15 Sep 15 Oct 15 Turnover premium / month Open interest (avg) 40 000 20 000 0 30 000 Index Futures 100 000 25 000 90 000 80 000 20 000 70 000 15 000 10 000 5 000 19 871 15 656 17 912 13 480 10 546 13 796 14 354 12 191 14 555 12 183 15 702 13 149 13 327 60 000 50 000 40 000 30 000 20 000 10 000 0 Oct 14 Nov 14 Dec 14 Jan 15 Feb 15 Mar 15 Apr 15 May 15 Jun 15 Jul 15 Aug 15 Sep 15 Oct 15 0 Turnover exposure MNOK Open Interest (avg)
BROKER STATISTICS - OCTOBER 2015 19.1 % Equity Options 8.3 % LSE Derivatives DNB BANK ASA Enskilda Securities 23.2 % 5.5 % 2.8 % 1.0 % 0.6 % 0.5 % 0.3 % 0.1 % 0.1 % 0.1 % Danske Bank A/S Nordea Markets Sparebank 1 Markets Fearnley Fonds ABG Sundal Collier Norge ASA NetFonds AS Handelsbanken Capital Markets Arctic Securities ASA 38.6 % Fondsfinans ASA Pareto Securities AS 17.5 % Index Options 14.4 % 3.3 % 1.5 % 1.1 % 0.9 % 0.8 % 0.1 % Enskilda Securities LSE Derivatives DNB BANK ASA Danske Bank A/S Sparebank 1 Markets Handelsbanken Capital Markets Nordea Markets Pareto Securities AS 24.8 % NetFonds AS 35.5 % Swedbank Norge
Index Futures 19.4 % 11.6 % 7.8 % LSE Derivatives DNB BANK ASA 21.1 % 2.3 % 2.1 % 1.4 % 0.1 % Sparebank 1 Markets Handelsbanken Capital Markets Enskilda Securities Danske Bank A/S Carnegie ASA Nordea Markets 34.2 % Arctic Securities ASA Stock Forwards & Futures 89.3 % DNB BANK ASA Sparebank 1 Markets 8.2 % Carnegie ASA 2.5 % "LSE Derivatives" is a composite entry and includes all derivatives members at London Stock Exchange Derivatives Market.
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. 30.10.15: 549.11 All time high (15.04.15 close): 600.64
The current OBX and OBOSX Index compositions 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 mps@oslobors.no. Date: 2. nov. 2015 OBX OBOSX Close - prev. day: 549.11 53.29 OBOSX weight of OBX: 7.50 % Divisor: 1 442 951 205 1 115 622 595 USDNOK: 8.48 Weight % Weight % Close Last Day Dividend Dividend Last Update Multiplier Multiplier Value Multiplier Multiplier Value Ticker Company Name in OBX in OBOSX Prev. day Note Incl. Div. Stock in NOK Div. Info OBX OBX OBOSX OBOSX Industry 1 AKSO Aker Solutions 0.65 % 14.02 % 34.00 07.04.16 12.10.15 151 843 891 5 162 692 294 245 151 875 8 335 163 750 Oil & Gas Equipment & Services 2 BWLPG BW LPG Limited 0.54 % 57.70 12.10.15 74 357 615 4 290 434 386 Oil & Gas Storage & Transportation 3 DETNOR Det Norske Oljeselskap 0.68 % 52.15 12.10.15 103 065 907 5 374 887 050 Oil & Gas Exploration & Production 4 DNB DNB 12.80 % 108.20 26.04.16 26.10.15 937 169 181 101 401 705 384 Diversified Banks 5 DNO DNO 0.71 % 8.52 12.10.15 661 563 872 5 636 524 189 Oil & Gas Exploration & Production 6 FOE Fred Olsen Energy 0.17 % 3.60 % 39.35 12.10.15 33 706 542 1 326 352 428 54 419 193 2 141 395 245 Oil & Gas Drilling 7 FRO Frontline 0.19 % 26.60 12.10.15 57 366 164 1 525 939 962 Oil & Gas Storage & Transportation 8 GJF Gjensidige Forsikring 3.32 % 129.20 07.04.16 12.10.15 203 441 385 26 284 626 942 Multi-line Insurance 9 MHG Marine Harvest 4.94 % 113.90 05.11.15 1.40 28.10.15 343 386 017 39 111 667 336 Packaged Foods & Meats 10 NAS Norwegian 1.13 % 312.30 12.10.15 28 617 453 8 937 230 572 Airlines 11 NHY Norsk Hydro 5.58 % 30.46 02.05.16 29.10.15 1 452 684 035 44 248 755 706 Aluminum 12 NOD Nordic Semiconductor 0.85 % 40.85 12.10.15 165 053 696 6 742 443 482 Integrated Telecommunication Services 13 OPERA Opera Software 0.94 % 53.05 26.10.15 140 294 054 7 442 599 565 Internet Software & Services 14 ORK Orkla 7.55 % 72.25 14.04.16 2.50* 30.10.15 828 199 893 59 837 442 269 Packaged Foods & Meats 15 PGS Petroleum Geo-Services 0.97 % 18.19 % 35.38 26.10.15 217 827 525 7 706 737 835 305 557 246 10 810 615 363 Oil & Gas Equipment & Services 16 RCL Royal Caribbean Cruises 5.51 % 832.00 12.10.15 52 488 772 43 670 658 304 Hotels, Resorts & Cruise Lines 17 REC REC Silicon ASA 0.36 % 1.525 26.10.15 1 883 147 088 2 871 799 309 Semiconductor Equipment 18 SCHA Schibsted A 2.95 % 285.00 11.05.16 12.10.15 81 971 303 23 361 821 355 Publishing 19 SDRL Seadrill 1.39 % 16.45 % 53.20 12.10.15 206 778 144 11 000 597 261 183 793 832 9 777 831 862 Oil & Gas Drilling 20 STB Storebrand 1.71 % 29.73 13.04.16 28.10.15 455 612 408 13 545 356 890 Life & Health Insurance 21 STL Statoil 19.47 % 136.20 1) 12.11.15 1.80 28.10.15 1 132 478 243 154 243 536 697 Integrated Oil & Gas 22 SUBC Subsea 7 S.A. 2.22 % 18.10 % 66.25 12.10.15 264 965 894 17 553 990 478 162 422 456 10 760 487 710 Oil & Gas Equipment & Services 23 TEL Telenor 14.33 % 156.80 02.11.16 724 126 652 113 543 059 034 Integrated Telecom. Services 24 TGS TGS Nopec Geophysical 2.18 % 29.64 % 167.50 12.10.15 103 019 999 17 255 849 833 105 205 852 17 621 980 210 Oil & Gas Equipment & Services 25 YAR Yara International 8.87 % 385.70 29.10.15 182 178 516 70 266 253 621 Fertilizers & Agricultural Chemicals Tot: OBX 100.00 % 549.11 792 342 962 180 Tot: OBOSX 100.00 % 53.29 59 447 474 140 Note Note Explanation Gen. AGM/ Last inclusive dates as notified on respective company's web page, and dividend proposed by the board 1) Statoil has declared a quarterly dividend of 0.2201 USD with last day inclusive 16.02.2016 (announcement of NOK conversion after record date) NB: Norwegian Stock derivatives are adjusted for extraordinary dividends. SDRL and MHG are adjusted for all dividends. *minimum Legends: = Recent updates XX.XX = Upcoming Dividend DISCLAIMER: Information and estimates given in this document are solely intended as a service to the market. Oslo Børs accepts no responsibilty for the accuracy of the information and estimates. Oslo Børs shall not be liable for any loss or damage w hatsoever or how soever caused or arising in connection w ith the information and estimates given in this document.
OSLO BØRS - LISTED DERIVATIVES OPEN INTEREST - OPTIONS AND INDEX FUTURES ONLY OBX Index (OBX) OBOSX Index (OBOSX) The OBX INDEX consists of the 25 most traded securities on Oslo Børs. The constituents are selected on the basis of six months turnover rating (Jun & Dec). It is a semi-annually revised, free float adjusted total return index (dividend adjusted). Home: www.oslobors.no Domicile: Norway The OSLO BØRS OBX OIL SERVICE INDEX is a free float adjusted total return index (dividend adjusted) composed of the most liquid shares within the Oil Service sector. Only companies that are members of both the OBX index and the Energy Equipment and Service Index are included. Home: www.oslobors.no Domicile: Norway ISIN: NO 000 000 0021 Last (NOK): 517.70 Sector: N/A Avg.Imp.Vol last month: 20 % Expiry: Each Month Reuters:.OBX Open Int Options (avg): 98 593 Bloomberg: OBX NO Open Int Fut (avg): 49 956 Weight of All Shares: 43. O/I Options avg. ytd: 66 778 Derivatives: Options & Futures Sector: OBX Index & Energy Equipment and Service Index O/I Fut avg. ytd: 56 918 Market Maker(s): 8 Last (NOK): 49.93 Avg.Imp.Vol last month: ISIN: NO 001 059 0086 Expiry: Each Month Reuters:.OBOSX Bloomberg: OBOSX.IND Weight of OBX: 7. Derivatives: Futures O/I Fut avg. ytd: Market Maker(s): 1 N/A Open Int Fut (avg): 102 316 Aker Solutions (AKSO) AKER SOLUTIONS is a global provider of products, systems and services to the oil and gas industry. Its engineering, design and technology bring discoveries into production and maximize recovery. Home: www.akersolutions.com Sector: Oil & Gas Equipment & Services 10101020 Last (NOK): 35.37 ISIN : NO 001 071 6582 Avg.Imp.Vol last month: 54 % Reuters : AKSO.OL Expiry: Each Month Bloomberg : AKSO NO Open Int (avg): 1 176 OBX Weight : 0.65% O/I avg. ytd: 2 183 Domicile: Norway Derivatives : Options & Fwd/Fut Market Maker(s): 3
DNB (DNB) DNB is Norway's largest financial services Sector: Diversified Banks 40101010 Last (NOK): 108.20 group and offers financial products and ISIN : NO 001 003 1479 Avg.Imp.Vol last month: 31 % services related to the money and capital Reuters : DNB.OL Expiry: Each Month markets. Bloomberg : DNB NO Open Int (avg): 61 790 Home: www.dnb.no OBX Weight : 12.80% O/I avg. ytd: 30 556 Domicile: Norway Derivatives : Options & Fwd/Fut Market Maker(s): 7 DNO (DNO) DNO ASA is an international independent petroleum company engaged in the acquisition, exploration, development and operation of oil and natural gas properties. Home: www.dno.no Sector: Oil & Gas Exploration & Production 10102020 Last (NOK): 9.08 ISIN : NO 000 392 1009 Avg.Imp.Vol last month: 65 % Reuters : DNO.OL Expiry: Each Month Bloomberg : DNO NO Open Int (avg): 17 509 OBX Weight : 0.71% O/I avg. ytd: 24 067 Domicile: Norway Derivatives : Options & Fwd/Fut Market Maker(s): 2 Gjensidige Forsikring (GJF) GJENSIDIGE is Norway's largest general Sector: Multi-line Insurance 40301030 Last (NOK): 131.40 insurance company, with business in ISIN : NO 0010582521 Avg.Imp.Vol last month: 21 % Denmark, Sweden and the Baltic countries. Reuters : GJF.OL The group also offers banking, pension and Expiry: Each Month saving products in Norway. Bloomberg : GJF NO Open Int (avg): 1 173 Home: www.gjensidige.com OBX Weight : 3.32% O/I avg. ytd: 1 333 Domicile: Norway Derivatives : Options & Fwd/Fut Market Maker(s): 3
Marine Harvest Group (MHG) MARINE HARVEST is one of the largest seafood companies in the world, and the world's largest producer of Atlantic salmon. The company employs 11 700 people, and is represented in 24 countries. In 2013 the company had a turnover of NOK 25.5 billion. Home: www.marineharvest.com Sector: Packaged Foods & Meats 30202030 Last (NOK): 116.00 ISIN : NO 000 305 4108 Avg.Imp.Vol last month: 25 % Reuters : MHG.OL Expiry: Each Month Bloomberg : MHG NO Open Int (avg): 15 449 OBX Weight: 4.94% O/I avg. ytd: 13 481 Domicile: Norway Derivatives : Options & Fwd/Fut Market Maker(s): 4 Norwegian Air Shuttle (NAS) NORWEGIAN AIR SHUTTLE is the third largest low cost carrier in Europe with 20 Sector: Airlines 20302010 Last (NOK): 319.60 million customers annually. The company ISIN : NO 001 019 6140 Avg.Imp.Vol last month: 42 % has a total of 401 routes to 124 destinations, and employs 3500. The Reuters : NAS.OL Expiry: Each Month company has 268 undelivered aircraft on firm order. Bloomberg : NAS NO Open Int (avg): 4 962 Home: www.norwegian.no OBX Weight: 1.13% O/I avg. Ytd: 6 388 Domicile: Norway Derivatives : Options & Fwd/Fut Market Maker(s): 2 Norsk Hydro (NHY) NORSK HYDRO is a global aluminium Sector: Aluminum 15104010 Last (NOK): 31.60 company with production, sales and trading activities throughout the value ISIN : NO 000 505 2605 Avg.Imp.Vol last month: 39 % chain. Based in Norway, the company has Reuters : NHY.OL Expiry: Each Month 13,000 employees involved in activities in more than 50 countries on all continents. Bloomberg : NHY NO and NOHYF US Open Int (avg): 199 167 Home: www.hydro.com OBX Weight : 5.58% O/I avg. ytd: 143 399 Domicile: Norway Derivatives : Options & Fwd/Fut Market Maker(s): 7
Nordic Semiconductor (NOD) NORDIC SEMICONDUCTOR develops and sells integrated circuits and related Sector: Semiconductors 45301020 Last (NOK): 43.00 solutions for short-range wireless ISIN : NO 000 305 5501 Avg.Imp.Vol last month: 44 % communication. The company specializes in ultra-low power (ULP) components, Reuters : NOD.OL Expiry: Each Month based on its proprietary 2.4 GHz RF Bloomberg : NOD NO Open Int (avg): 232 technology. Home: www.nordicsemi.no OBX Weight : 0.85% O/I avg. ytd: 222 Domicile: Norway Derivatives : Options & Fwd/Fut Market Maker(s): 3 Norske Skog (NSG) Sector: Paper Products 15105020 Last (NOK): 2.38 NORSKE SKOG is one of the world's biggest ISIN : NO 000 413 5633 Avg.Imp.Vol last month: 100 % producer of publication paper, with 9 paper mills in 7 countries and a production Reuters : NSG.OL Expiry: Each Month capacity of around 3 mill. tonnes per year. Home: www.norskeskog.com Bloomberg : NSG NO Open Int (avg): 1 845 OBX Weight : N/A O/I avg. ytd: 222 Domicile: Norway Derivatives : Options & Fwd/Fut Market Maker(s): 2 Opera Software (OPERA) OPERA SOFTWARE delivers the best Internet experience on any device. The company targets PCs, mobile phones, portable media players, set-top boxes, gaming consoles and other vertical markets. Home: www.opera.com Sector: Internet Software & Services 45101010 Last (NOK): 54.35 ISIN : NO 001 004 0611 Avg.Imp.Vol last month: 72 % Reuters : OPERA.OL Expiry: Each Month Bloomberg : OPERA NO Open Int (avg): 13 171 OBX Weight : 0.94% O/I avg. ytd: 9 257 Domicile: Norway Derivatives : Options & Fwd/Fut Market Maker(s): 1
Orkla (ORK) ORKLA is a leading supplier of branded consumer goods to the grocery sector, outof-home sector and bakeries with its main markets in the Nordics and the Baltics. In 2014, the Group had a turnover of NOK 30 bn and 13,000 employees. Home: www.orkla.no Sector: Industrial Conglomerates 20105010 Last (NOK): 68.85 ISIN : NO 000 373 3800 Avg.Imp.Vol last month: 22 % Reuters : ORK.OL Expiry: Each Month Bloomberg : ORK NO Open Int (avg): 7 666 OBX Weight : 7.55% O/I avg. ytd: 6 546 Domicile: Norway Derivatives : Options & Fwd/Fut Market Maker(s): 5 Petroleum Geo-Services (PGS) PETROLEUM GEO-SERVICES is a technologically focused oilfield service company involved in providing geophysical services worldwide. Home: www.pgs.com Sector: Oil & Gas Equipment & Services 10101020 Last (NOK): 37.02 ISIN : NO 001 019 9151 Avg.Imp.Vol last month: 50 % Reuters : PGS.OL Expiry: Each Month Bloomberg : PGS NO Open Int (avg): 4 337 OBX Weight : 0.97% O/I avg. ytd: 12 143 Domicile: Norway Derivatives : Options & Fwd/Fut Market Maker(s): 5 Royal Caribbean Cruises (RCL) ROYAL CARIBBEAN CRUISES is a global cruise vacation company that operates Royal Caribbean International, Celebrity Cruises, Pullmantur, Azamara Cruises and CDF Croisières de France. The company has a combined total of 38 ships in service and five under construction. Home: www.rclinvestor.com Sector: Hotels, Resorts & Cruise Lines 25301020 Last (NOK): 836.00 ISIN : LR 000 886 2868 Avg.Imp.Vol last month: 32 % Reuters : RCL.OL Expiry: November and December 2015 due to application of delisting. Bloomberg : RCL NO Open Int (avg): 645 OBX Weight : 5.51% O/I avg. ytd: 1 847 Domicile: Liberia Derivatives : Options & Fwd/Fut Market Maker(s): 3
REC Silicon (REC) Sector: Semiconductor Equipment REC SILICON is a leading producer of 45301010 advanced silicon materials, delivering highpurity Last (NOK): 1.48 polysilicon and silane gas to the ISIN : NO 001 011 2675 Avg.Imp.Vol last month: 71 % solar and electronics industries worldwide. Reuters : REC.OL The company is headquartered in Moses Expiry: Each Month Lake, Washington and employs 800 people. Bloomberg : REC NO Open Int (avg): 48 810 Home: www.recsilicon.com OBX Weight : 0.36% O/I avg. ytd: 53 991 Domicile: Norway Derivatives : Options & Fwd/Fut Market Maker(s): 3 Seadrill (SDRL) SEADRILL is an international drilling contractor providing services within Sector: Oil and Gas Drilling 10101010 Last (NOK): 56.90 drilling and well services. Seadrill's ISIN: BMG 7945E 1057 Avg.Imp.Vol last month: 71 % versatile fleet includes semi-submersibles, jack-ups, tender rigs and deepwater Reuters : SDRL.OL Expiry: Each Month drillships.seadrill has 7 000 employees, representing 25 nationalities on five Bloomberg : SDRL NO Open Int (avg): 16 883 continents. Home: www.seadrill.com OBX Weight : 1.39% O/I avg. ytd: 10 950 Domicile: Bermuda Derivatives : Options & Fwd/Fut Market Maker(s): 6 Storebrand (STB) STOREBRAND is a leading player in the markets for long-term savings and insurance. The group consists of the following business areas: life insurance, asset management, banking and non-life insurance. Home: www.storebrand.com Sector: Life & Health Insurance 40301020 Last (NOK): 30.35 ISIN : NO 000 305 3605 Avg.Imp.Vol last month: 42 % Reuters : STB.OL Expiry: Each Month Bloomberg : STB NO Open Int (avg): 100 099 OBX Weight : 1.71% O/I avg. ytd: 70 488 Domicile: Norway Derivatives : Options & Fwd/Fut Market Maker(s): 5
Statoil (STL) STATOIL is an international energy company with app. 23 000 employees and Sector: Integrated Oil & Gas 10102010 Last (NOK): 138.40 operations in 34 countries. Building on 40 years of experience, the company is ISIN : NO 001 009 6985 Avg.Imp.Vol last month: 31 % committed to accommodating the world's energy needs in a responsible manner, Reuters : STL.OL Expiry: Each month applying technology and creating innovative business solutions. Bloomberg : SYO NO and STO US Open Int (avg): 113 207 Home: www.statoil.com OBX Weight : 19.47% O/I avg. ytd: 105 102 Domicile: Norway Derivatives : Options & Fwd/Fut Market Maker(s): 8 Subsea 7 (SUBC) Subsea 7 S.A. is a seabed-to-surface engineering, construction and services contractor to the offshore energy industry worldwide. They provide integrated services, and plan, design and deliver complex projects in harsh and challenging environments. Home: www.subsea7.com Sector: Oil & Gas Equipment & Services 10101020 Last (NOK): 68.65 ISIN: LU 007 564 6355 Avg.Imp.Vol last month: 45 % Reuters: SUBC.OL Expiry: Each Month Bloomberg: SUBC NO Open Int (avg): 11 569 OBX Weight: 2.22% O/I avg. ytd: 17 335 Domicile: Luxembourg Derivatives: Options & Fwd/Fut Market Maker(s): 6 Telenor (TEL) TELENOR Group is a leading international provider of communications services and one of the largest mobile operators worldwide. Home: www.telenor.com Sector: Integrated Telecom. Services 50101020 Last (NOK): 157.90 ISIN : NO 001 006 3308 Avg.Imp.Vol last month: 24 % Reuters : TEL.NO Expiry: Each Month Bloomberg : TEL NO and TELN US Open Int (avg): 12 230 OBX Weight : 14.33% O/I avg. ytd: 13 872 Domicile: Norway Derivatives : Options & Fwd/Fut Market Maker(s): 7
TGS-Nopec (TGS) TGS-NOPEC provides multi-client geoscience data and services to oil and gas Exploration and Production companies around the globe. TGS also provides highend depth imaging services to help resolve complex seismic imaging problems. Home: www.tgs.com Sector: Oil & Gas Equipment & Services 10101020 Last (NOK): 169.80 ISIN : NO 000 307 8800 Avg.Imp.Vol last month: 38 % Reuters : TGS.OL Expiry: Each Month Bloomberg : TGS NO Open Int (avg): 2 666 OBX Weight : 2.18% O/I avg. ytd: 5 759 Domicile: Norway Derivatives : Options & Fwd/Fut Market Maker(s): 2 Yara (YAR) YARA International ASA delivers solutions for sustainable agriculture and the environment. The industrial products and solutions reduce emissions, improve air quality and support safe and efficient operations. Founded in Norway in 1905. Home: www.yara.com Sector: Fertilizers & Agricultural Chemicals 15101030 Last (NOK): 391.10 ISIN : NO 001 020 8051 Avg.Imp.Vol last month: 28 % Reuters : YAR.OL Expiry: Each Month Bloomberg : YAR NO Open Int (avg): 14 177 OBX Weight : 8.87% O/I avg. ytd: 17 792 Domicile: Norway Derivatives : Options & Fwd/Fut Market Maker(s): 6
MARKET MAKERS DNB Markets: Danske Bank Markets: Enskilda Securities: Handelsbanken: Nordea Markets: Sparebank 1 Markets: Susquehanna Intl. Sec. Ltd: Timber Hill Europe: OBX, OBOSX, AKSO, DNO, GJF, MHG, NAS, NHY, NOD, NSG, OPERA, ORK, PGS, REC, RCL, SDRL, STB, STL, SUBC, TEL, TGS, YAR OBX, AKSO, DNB, NAS, PGS, SDRL, STL, TEL, SUBC, YAR OBX, DNB, NHY, ORK, STL, TEL, YAR OBX, DNB, NHY, PGS, RCL, SDRL, STB, STL, SUBC, YAR OBX, DNB, GJF, NHY, STB, STL, TEL OBX, DNB, MHG, NHY, NOD, ORK, SDRL, STL, SUBC, TEL OBX, AKSO, DNB, DNO, GJF, MHG, NHY, NOD, NSG, ORK, PGS, REC, SDRL, STB, STL, SUBC, TEL, TGS, YAR OBX, DNB, MHG, NHY, ORK, PGS, REC, RCL, SDRL, STB, STL, SUBC, TEL, YAR
OPTIONS - ATM IMPLIED VOLATILITIES Daily Volatilities = average of Last Bid+Offer vol. for ATM CALLS and PUTS for the nearest two months. Lack of data may occur, thus volatilities should be seen as indicative. 80% 20% 10% OBX ATM Implied Vol AKSO ATM Implied Vol 20% 1 DNB ATM Implied Vol 110% 90% 10%
80% 75% 65% 55% 45% DNO ATM Implied Vol GJF ATM Implied Vol 25% 20% 15% 10% 1 1 110% 90% 10% MHG ATM Implied Vol
100% 90% 80% 20% NAS ATM Implied Vol 100% 90% 80% 20% 10% NHY ATM Implied Vol NOD ATM Implied Vol 48% 46% 44% 42%
1 1 120% 110% 100% 90% 80% NSG ATM Implied Vol 90% OPERA ATM Implied Vol 80% 80% 20% 10% ORK ATM Implied Vol
80% PGS ATM Implied Vol 20% 80% RCL ATM Implied Vol 20% 1 1 120% 110% 100% 90% 80% REC ATM Implied Vol
90% 80% 20% 10% STL ATM Implied Vol 1 SUBC ATM Implied Vol 110% 90% 10% SDRL ATM Implied Vol 110% 90% 10%
1 STB ATM Implied Vol 120% 100% 80% 20% 55% 45% 35% 25% 20% TGS ATM Implied Vol 90% 80% 20% 10% TEL ATM Implied Vol
100% 90% 80% 20% 10% YAR ATM Implied Vol 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.