18/03/2013 – Oslo Børs is one of the world’s largest stock exchanges for the oil service sector and in 2010 the exchange launched the first European oil service index, OBOSX. On 18 March Oslo Børs introduces the opportunity to trade futures on the oil services index for investors seeking a broad exposure to the development of the companies in the oil services sector.
The oil service index currently consists of the following companies: Aker Solutions, EMGS, Fred. Olsen Energy, PGS, Prosafe, Seadrill, Songa Offshore, Subsea 7 and TGS. Combined these companies have a market cap. of around NOK 260 billion.
Oslo Børs is the world’s second largest stock exchange for oil service, both in terms of number of companies in the sector listed and the value of these companies. The oil service sector has performed strongly in recent years and the market requested a separate index covering the sector. As a further development of this, Oslo Børs from Monday 18 March 2013 will list futures on the oil service index. With an offer of standardized future contracts on the oil services index, Oslo Børs further strengthen its position as one of the world’s leading financial markets for the oil service sector.
Oslo Børs has for several years offered trading in futures listed on the OBX index, and this is the most popular derivative product on the exchange.
Facts – Oslo Børs OBX Oil Service Index (OBOSX) The Oslo Børs OBX Oil Service Index comprises the oil service companies represented in the OBX index. The OBX index contains the 25 most liquid companies on Oslo Børs. At present there are nine companies in the OBOSX and the index is revised twice a year, in December and June.
From 18 March 2013 the Oslo Børs OBX Oil Service Index is tradable, meaning that one can buy and sell futures listed on the index. This means that the investor can get the same exposure by buying futures on the index as if he bought all the shares (weighted) included in the index.
There are also ETFs and ETNs listed on the OBOSX index.