The exchange traded index option market in South Africa has seen tremendous growth during the last couple of years. The biggest liquidity is in options on the near and middle Alsi future contracts. Alsi futures are listed future contracts on the FTSE/JSE Top40 index, the most important and...

The FTSE/JSE Top 40 Index is the flagship index at the Johannesburg Stock Exchange (JSE). It captures more than 80% of the total market capitalisation of all the shares listed on the JSE. It is tradable and the liquid ALSI future is listed on this index. A superficial view of the long-term...