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http://www.winefex.com/gb/accueilgb.htm
Dorothy Carter wrote:
>
> Where can you track these????
>
> ----- Original Message -----
> From: "Daniel Goncharoff" <thegonch@xxxxxxxxxx>
> To: <realtraders@xxxxxxxxxxxxxxx>
> Sent: Friday, October 19, 2001 12:09 PM
> Subject: [RT] Wine Futures
>
> > 10 October - The combined Paris, Brussels and Amsterdam bourse,
> > Euronext, has started trading its wine futures contract, Winefex, after
> > its launch date was postponed due to the September 11 terrorists attacks
> > in the US. The publicly quoted exchange said it is trading between five
> > and 10 lots a day at around 38 euros a bottle, and that it expects
> > activity to pick up over the next two months.
> >
> > The contracts for fine Bordeaux wines en primeur - which are delivered
> > in November two years after the grape harvest - run for 28 and a half
> > months from the July prior to the relevant harvest, giving scope for
> > hedging and speculation based on late summer weather conditions.
> >
> > Winefex futures contracts cover three price bands of fine red Bordeaux
> > wines, including Graves, Saint Emilion and Saint Julien, with each
> > contract traded for five cases of 12 bottles of 75cl. Although two
> > London-based companies, WorldwineXchange and Bordeaux Wine Index, have
> > unveiled plans to launch wine derivatives, Winefex is the only contract
> > currently available.
> >
> > Sam Mezrahi, head of business development for Winefex, told RiskNews
> > that while most of the business has originated from French wine traders
> > keen to hedge their positions, a few contracts have also been bought by
> > German brokers. He added that French and English specialist fine wine
> > retailers have also expressed an interest in the derivatives contracts,
> > as have French retailers such as the supermarket chain Carrefour.
> >
> > Mezrahi admitted that although the contracts lack liquidity, sufficient
> > volatility is present. "Hedge funds have expressed an interest in using
> > Winefex but they want to wait two or three months to get a feel for the
> > product," he added.
> >
> > Potentially, airlines could be the largest users of the contracts.
> > "Initially we thought that airlines such as Air France - which buys up
> > to 50,000 bottles of wine a year - would benefit from using Winefex for
> > hedging. But since the September 11 terrorist attacks, I think airlines
> > have other issues on their minds," said Mezrahi.
> >
> >
> > Paul Lyon
> >
> >
> >
> > Back to main headlines
> >
> >
> >
> > © Risk Waters Group, 2001
> >
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> >
> >
> >
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