 SVENSKA HANDELSBANKEN TO START FUTURES TRADING
Sweden's second largest bank Svenska
Handelsbanken <SHBS.S> said it will launch trading in share
futures with fixed maturity dates from March 19.
    Trading will start in four stocks -- Svenska Cellulosa AB
<SCAB.S> (SCA), Forsakrings AB Skandia <SKDS.S>, AB Volvo
<VOLV.S> and Pharmacia AB <PHAB.S>. Each futures contract is
for 1,000 shares and with fixed terms of three and six months.
    The bank did not say whether the futures instruments will
be open to foreign investors, who are only allowed to own
so-called unrestricted shares in Swedish companies.
    The Swedish Central Bank last month gave the go-ahead for
foreigners to trade in share options, but said such approval
will only be given on an individual basis.
    The Handelsbanken scheme, aimed at mainly institutional
investors, is only the latest of several novelties introduced
on Sweden's fast-growing financial markets in recent years.
    The country's private options exchange is already the
world's fifth largest and tomorrow a rival market, the Sweden
Options and Futures Exchange (SOFE), will begin trading.
    SOFE will also launch a market for share index futures this
spring.
    REUTER
