Eurex reports strong volumes as OTC business shines in September

abdelaziz Fathi

Eurex, a global derivatives exchange, reported its operational metrics for September 2021, which were largely higher on a yearly basis, but equity index derivatives stayed virtually flat with negative growth.

During September 2021, Eurex disclosed that a total of 179.6 million contracts were traded across its financial derivatives, which include European equity index, interest rate, and equity derivatives. This figure was higher by 10.0 percent over a yearly timeframe, compared to 162.7 million contracts reported back in September 2020.

Meanwhile, Eurex’s OTC clearing business saw mixed gains over the last year, with total volumes jumping 35 percent in September to EUR 20.7 trillion. In terms of its average daily cleared volumes, the ADV figure fell year-on-year to EUR 155 billion in September from EUR 135 billion a year earlier.

The Eurex FX offering of classic FX futures and options, in combination with the rolling spot futures, allows traders to manage their FX exposures with listed products.

The pan-European exchange has made efforts over the past year to expand its FX trading business, most recently signing major banks to support their FX futures, from clearing to trading.

Eurex’s currency trading desk currently offers various FX derivatives products, including FX futures available in 11 currency pairs, all with quotation and tick sizes in-line with existing OTC FX standards.

Earlier in August, the European derivatives exchange, owned by financial titan Deutsche Börse Group, announced plans to launch trading on bitcoin exchange-traded note (ETN) futures, effective September 13.

The Germany-based trading venue said the novel ETN futures contract is physically backed by bitcoin and tracks the BTCetc Bitcoin Exchange Traded Crypto index, which is listed on the Frankfurt Stock Exchange.

According to the announcement, this centrally cleared offering is the first regulated market in Bitcoin-related derivatives in Europe.

Although BTCE is listed on the ETN board, it is an exchange traded product that is 100% secured by the underlying bitcoin and fully fungible meaning it can be readily converted to bitcoin which effectively facilitates physical delivery.

There are now three bitcoin ETNs listed on Germany’s Xetra platform. ETC Group was first listed in June 2020, followed by crypto ETP issuer 21Shares and US asset manager VanEck.

Read this next

Retail FX

Italian watchdog red flags Olympus Brokers, UnicoFX and Allfina Group

Italy’s Commissione Nazionale per le Società e la Borsa (CONSOB) has shut down new websites in an ongoing clampdown against firms it accuses of illegally promoting investment products in the country.

Retail FX

XTB revenues hits zł1.45 billion in 2022, Q4 earnings disappoint

Poland-based Forex and CFDs broker, XTB has reported its final results for Q4 of 2022 and the full fiscal year ending on December 31, 2022, showing one of its most successful corporate years.

Executive Moves

Lirunex Limited recruits Waleed Salah as head of MENA sales

Maldives-based brokerage firm Lirunex Limited has secured the services of Waleed Salah, who joined the company in the role of its head of sales for the MENA region.

Executive Moves

Trading 212 parts ways with co-founder Borislav Nedialkov

Trading 212 has a void to fill at its FCA-regulated business in London, following the departure of two key players, Raj Somal and Borislav Nedialkov.

Digital Assets

Binance acquires troubled crypto exchange GOPAX

Binance, the world’s largest digital asset trading platform, has reportedly acquired a majority stake in the troubled South Korea-based cryptocurrency exchange GOPAX.

Digital Assets

Kraken exits Middle East, closes UAE office

Digital currency exchange Kraken will close down its operations in Abu Dhabi, UAE and lay off the majority of its team focused on the Middle East and North Africa.

Industry News

CFTC comments on ION Cleared Derivatives issues after Russian-linked hack

“The ongoing issue is impacting some clearing members’ ability to provide the CFTC with timely and accurate data. As this incident unfolded, it became clear that the submission of data that is required by registrants will be delayed until the trading issues are resolved.”

Industry News

FCA took down 14 times more misleading ads in 2022 thanks to technology

The FCA has made significant improvements to the digital tools it uses to find problem firms and misleading adverts. These improvements have enabled it to work through a much larger number of cases compared with 2021.

Executive Moves

HKEX appoints ex-Goldman Sachs Matthew Cheong to lead platform’s focus on derivatives

“He has worked for a number of the world’s leading investment banks and his experience will be invaluable to HKEX as we continue to enhance our derivatives product offerings and build on our innovative and robust platform business, connecting capital with opportunities.”

<