Euronext Lisbon hires Santander Negocios to boost derivatives market
LISBON (AFX) - Euronext Lisbon said it has reached agreement that from today Santander Negocios will be the sole market maker for the Portuguese derivatives market, Canal de Negocios reported.
With a view to boosting market activity, the contract requires Santander Negocios to actively promote liquidity and offer compettive buy and sell price for domestic futures contracts, the Portuguese subsidiary of Euronext NV said.
Pedro Fialho, manager of Santander Negocios, told Jornal de Negocios he believes the increase in liquidity will be 'exponential'.
Liquidity has been dropping but not in all contracts and the number of open interest contracts has grown, he said.
'There are real investors for this market,' Fialho said.
He added that Euronext is seeking other market makers and negotiations with other institutions are under way.
Santander Negocios is a subsidiary of Banco Santander Central Hispano SA.
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