In May 2011, the international derivatives exchanges of Eurex Group recorded an average daily volume of 12.9 million contracts (May 2010: 16.2 million).
Of those, 10.0 million were Eurex Exchange contracts (May 2010: 12.2 million), and 2.9 million contracts (May 2010: 4.0 million) were traded at the US-based International Securities Exchange (ISE). The decline of Eurex Exchange volume y-o-y – which peaked in May 2010 – is due to the lower volatility compared with May 2010 and the adjustment of contract specification of equity derivatives. In total, 219.7 million contracts were traded at Eurex Exchange and 60.6 million at ISE.
Eurex Exchange traded 64.3 million equity index derivatives contracts (May 2010: 101.4 million). The single largest contract was the future on the EURO STOXX 50 Index with 28.3 million contracts. The option on this blue chip index totaled 24.8 million contracts. Futures on the DAX index recorded 3.1 million contracts while the DAX options reached another 5.2 million contracts. The Eurex KOSPI Product achieved a new monthly record with more than 320,000 contracts, an ADV of more than 14,500 contracts.
The equity derivatives (equity options and single stock futures) segment at Eurex Exchange reached its second-best month with 96.8 million contracts (record month May 2010: 101.9 million). Thereof, equity options totaled 24.4 million contracts and single stock futures equaled 72.4 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 would have been approximately 123 million contracts.
Eurex Exchange’s interest rate derivatives segment grew by 11 per cent and totaled 57.9 million contracts (May 2010: 52.4 million). The Euro-Bund-Future reached 21.2 million contracts, the Euro-Bobl-Future 13.7 million contracts and the Euro-Schatz-Future 16.1 million contracts. The Euro-BTP-Future totaled around 134,000 contracts and the Short Term Euro-BTP-Future approximately 53,000 contracts.
The Eurex segment dividend-based derivatives recorded approximately 289,000 contracts. Volatility derivatives totaled 208,000 contracts. Agricultural derivatives tripled y-o-y and totaled around 7,800 contracts.
Eurex Repo, which operates CHF, EUR repo and GC Pooling markets, reported continued growth. All Eurex Repo markets grew by 43 per cent in May 2011 and achieved 288.6 billion euros average outstanding volume (May 2010: 201.5 billion euros). The EUR Repo Market reached a new monthly record of average outstanding volume with 137.5 billion euros in May, an increase of 15 per cent y-o-y. The secured money market GC Pooling recorded an average outstanding volume of 106.8 billion euros, an increase of 12 per cent y-o-y (May 2010: 95.1 billion euros). The CHF Repo market recorded the highest growth rate with 84
per cent y-o-y, reaching 151.2 billion euros.
The electronic trading platform Eurex Bonds, which rounds out Eurex’s fixed-income product range, traded 10.36 billion euros (single counting) in May, compared to 8.76 billion euros in May 2010. In April 2011, volume was 8.95 billion euros.
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