Eurex

Eurex to introduce new trading system in Q4 2012

Phased migration approach/ Customers to benefit from minimized latency, maximized throughput and greater flexibility

09 Feb 2012
Eurex announced today its plan to launch a completely new trading system. Subject to the required legal approvals, first roll-out is currently scheduled for December 2012, followed by a migration phase, where products will be moved in a stepwise approach from the current to the new trading system. It will be developed internally and based on Deutsche Börse Group’s proprietary global trading architecture, which is already in use at the International Securities Exchange (ISE).

Participants of Eurex will benefit from state-of-the-art technology which is built on the four pillars performance, efficiency, capacity, and reliability. The new technology will meet user needs by minimizing latency, maximizing throughput and allowing for greater flexibility while maintaining high standards of reliability. With the new trading system, Eurex will cease to use the currently used MISS infrastructure and VALUES API interface.

“Technology is a very important differentiator in today’s competitive global market environment. With the move to the new system, we again deliver a best-in-class solution to our exchange participants. They will get more choice and greater performance, and the reliability they can expect from Eurex”, said Jürg Spillmann, Deputy CEO Eurex and responsible for IT and Operations. “The complete overhaul of our trading architecture is a decisive element of our vision to operate markets globally around-the-clock.”

The new technology will include a highly flexible operating system, an internal high performance messaging architecture for minimum latency, high speed communications and reliable database systems. In the future, time-to-market for introducing new products and features will be significantly reduced. And, new tools for further strategy and spread trading will also be delivered.

Furthermore, new interfaces will be provided for exchange participants, replacing or extending the existing ones. These new interfaces will be based upon industry standards such as FIX and FAST facilitating a faster implementation by participants. In addition, Eurex strives to ensure a high degree of backward compatibility for the new interfaces allowing participants to leave their trading applications unchanged in future releases of the new trading system.

Average daily volume of 10.7 million contracts at Eurex Group in October

Eurex Repo: GC Pooling and Euro Repo market with new records

01 Nov 2011
In October 2011, the international derivatives exchanges of Eurex Group recorded an average daily volume of 10.7 million contracts (October 2010: 9.2 million). Of those, 7.3 million were Eurex Exchange contracts (October 2010: 6.3 million), and 3.4 million contracts (October 2010: 2.9 million) were traded at the U.S.-based International Securities Exchange (ISE). The growth of 17 percent y-o-y is due to stronger hedging need of market participants driven by uncertainty resulting from the European sovereign debt crisis, which led to an increasing use of exchange-traded and centrally cleared derivatives in the current market environment. In total, 153.9 million contracts were traded at Eurex Exchange and 72.1 million at ISE.

At Eurex Exchange, equity index derivatives as the largest segment recorded 82.3 million contracts (October 2010: 57.7 million), an increase of 43 percent y-o-y. The future on the EURO STOXX 50 Index totaled 31.3 million contracts, its best monthly result year-to-date. The option on this blue chip index totaled 36.4 million contracts. Futures on the DAX index recorded 3.8 million contracts. The DAX options reached another 5.3 million contracts. The Eurex KOSPI product recorded 2.4 million contracts, an ADV of nearly 120,000 contracts – a new monthly record since product launch.

The equity derivatives (equity options and single stock futures) segment at Eurex Exchange reached 24.7 million contracts (October 2010: 28.0 million). Thereof, equity options totaled 21.6 million contracts and single stock futures equaled 3.1 million contracts. Equity derivatives volume y-o-y is influenced by the change of contract specifications: In Q1/2011, Eurex Exchange increased the contract size of most equity options and single stock futures to match international standards, with the effect of potentially lower turnover in these products. The adjusted figure of monthly volume in the equity derivatives segment in October would have been approximately close to 28.0 million contracts based on an extrapolation.

Eurex Exchange’s interest rate derivatives segment totaled 46.0 million contracts (October2010: 45.7 million). The Euro-Bund-Future reached 18.4 million contracts, the Euro-Bobl-Future 9.3 million contracts and the Euro-Schatz-Future 11.0 million contracts. The Euro-BTP-Future totaled more than 144,000 contracts and the Short Term Euro-BTP-Future nearly 26,600 contracts.

The Eurex segment dividend-based derivatives increased by 84 percent y-o-y and totaled approximately 706,000 contracts. Volatility derivatives achieved 259,000 contracts, four times higher compared to October 2010.

Eurex Repo, which operates Swiss Franc, Euro Repo and GC Pooling markets, achieved new records in the Euro Repo and GC Pooling market. The Euro Repo market totaled an average outstanding volume of 183.4 billion euros in October, an increase of 54 percent y-o-y. The secured money market GC Pooling recorded a new monthly peak with an average outstanding volume of 150.2 billion euros, an increase of 61 percent y-o-y (October 2010: 93.0 billion euros). The Swiss Franc Repo market reached 82.8 billion euros. All Eurex Repo markets recorded 266.2 billion euros average outstanding volume (October 2010: 266.6 billion euros).

The electronic trading platform Eurex Bonds, which rounds out Eurex’s fixed-income product range, traded 8.6 billion euros (single counting) in October, an increase of 39 percent y-o-y (October 2010: 6.2 billion euros). In September 2011, volume was 7.8 billion euros.

Average daily volume of 12.4 million contracts at Eurex Group in September

Eurex Exchange: equity index derivatives with highest growth y-o-y/ Eurex Repo: GC Pooling with new all-time high

04 Oct 2011
In September 2011, the international derivatives exchanges of Eurex Group recorded an average daily volume of 12.4 million contracts (Sep 2010: 9.9 million). Of those, 9.1 million were Eurex Exchange contracts (Sep 2010: 7.3 million), and 3.3 million contracts (Sep 2010: 2.6 million) were traded at the U.S.-based International Securities Exchange (ISE). The growth of 25 percent y-o-y is due to the stronger hedging needs of market participants driven by uncertainty resulting from the European sovereign debt crisis, which led to an increasing use of exchange-traded and centrally cleared derivatives in the current market environment. In total, 201.1 million contracts were traded at Eurex Exchange and 68.8 million at ISE.

At Eurex Exchange, equity index derivatives as the largest segment recorded 112.6 million contracts (Sep 2010: 69.4 million), an increase of 62 percent y-o-y and the second-best month in 2011. The future on the EURO STOXX 50 Index totaled 51.0 million contracts, its best monthly result year-to-date. The option on this blue chip index totaled 41.3 million contracts. Futures on the DAX index recorded 5.5 million contracts, also a monthly record in 2011. The DAX options reached another 6.5 million contracts. The Eurex KOSPI Product achieved its second-best monthly result with 2.2 million contracts, an ADV of 101,000 contracts.

The equity derivatives (equity options and single stock futures) segment at Eurex Exchange reached 27.1 million contracts (Sep 2010: 30.0 million). Thereof, equity options totaled 21.8 million contracts and single stock futures equaled 5.3 million contracts. Equity derivatives volume y-o-y is influenced by the change of contract specifications: In Q1/2011, Eurex Exchange increased the contract size of most equity options and single stock futures to match international standards, with the effect of potentially lower turnover in these products. The adjusted figure of monthly volume in the equity derivatives segment in August would have been approximately close to 32 million contracts based on an extrapolation.

Eurex Exchange’s interest rate derivatives segment totaled 60.2 million contracts (Sep 2010: 61.7 million). The Euro-Bund-Future reached 23.5 million contracts, the Euro-Bobl-Future 13.0 million contracts and the Euro-Schatz-Future 15.8 million contracts. The Euro-BTP-Future totaled more than 250,000 contracts and the Short Term Euro-BTP-Future 48,500 contracts.

The Eurex segment dividend-based derivatives more than doubled y-o-y and totaled 774,000 contracts. Volatility derivatives achieved 250,000 contracts.

Eurex Repo, which operates CHF, EUR repo and GC Pooling markets, achieved new records in the EUR Repo and GC Pooling market. The EUR Repo Market totaled an average outstanding volume of 179.4 billion euros in August, an increase of 47 percent y-o-y. The secured money market GC Pooling recorded a new monthly peak with an average outstanding volume of 145.4 billion euros, an increase of 50 percent y-o-y (Aug 2010: 97.1 billion euros). The CHF Repo market reached 76.3 billion euros. All Eurex Repo markets recorded 255.7 billion euros average outstanding volume (Sep 2010: 274.1 billion euros).

The electronic trading platform Eurex Bonds, which rounds out Eurex’s fixed-income product range, traded 7.8 billion euros (single counting) in September, an increase of 7 percent y-o-y (Sep 2010: 7.2 billion euros). In August 2011, volume was 9.1 billion euros.