Greece – Adex gets moving

Hedging equity risk is now possible through the Athens Derivatives Exchange (Adex) with its futures contract based on the FTSE-ASE 20 Index covering blue chip stocks. Options and bond futures are on their way as are tie-ups with other European exchanges and regional indices. Adex chairman Panayotis Alexakis, a finance professor at Athens University and a business consultant, explains how he believes the market will develop. By Michael Peterson.

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Why was this the right time to set up the derivatives exchange?

Judging from past experience, we decided that it’s more important to start the market than to try to create all the preconditions for the market which would take one or two years and [at the end of it] we may still not have a derivatives market in Greece.

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