Eurex releases Q2 results
17 July 2018 Frankfurt
Image: Shutterstock
Eurex Exchange has published its review of Q2 of the year, providing an update on the newest developments at the firm, especially how the current market situation impacted on the trading volumes and liquidities.
In June, Eurex expanded its clearing member network to the US. INTL FC Stone US, a provider of customised financial services, become its first admitted US-based general clearing member for exchange-traded derivatives.
Eurex said the launch of clearing memberships from the US permits eligible firms to clear their own and client accounts.
It added that this allows them to better serve their regional clients, reduce costs by improving process efficiency and more flexibly leverage their domestic capital base.
Eurex also mentioned that PGGM and Morgan Stanley are in the final stages of admission and testing with a view to use Eurex Clearing's securities lending central counterparty.
Eurex said that it spent a lot of our innovative power to create new market models under the second Markets in Financial Instruments Directive framework that meet both the regulator's need for transparency and the industry's need for discrete execution of large orders.
Eurex said that it continues to receive broad market support for its partnership programme.
So far, it said, 29 market participants from the US, the UK, Asia and Continental Europe have joined to back the joint objective of building a liquid alternative to clear euro-denominated over-the-counter interest rate derivatives in the EU27 (the European Union minus the UK).
Turning to market activity statistics, Eurex said that in June, average daily cleared volume in interest rate derivatives increased to €67 billion from €8 billion last June.
Notional outstanding stood at €7.2 trillion compared to €1.5 trillion end of June last year.
It calculated that this means that Eurex Clearing now holds a market share of roughly 8 percent in the global Euro-denominated interest rate derivatives market.
It added that there is no evidence for the concern of market participants that a fragmentation of the existing liquidity pool would lead to significant cost increases in particular for EU27 buy-side firms.
In June, Eurex expanded its clearing member network to the US. INTL FC Stone US, a provider of customised financial services, become its first admitted US-based general clearing member for exchange-traded derivatives.
Eurex said the launch of clearing memberships from the US permits eligible firms to clear their own and client accounts.
It added that this allows them to better serve their regional clients, reduce costs by improving process efficiency and more flexibly leverage their domestic capital base.
Eurex also mentioned that PGGM and Morgan Stanley are in the final stages of admission and testing with a view to use Eurex Clearing's securities lending central counterparty.
Eurex said that it spent a lot of our innovative power to create new market models under the second Markets in Financial Instruments Directive framework that meet both the regulator's need for transparency and the industry's need for discrete execution of large orders.
Eurex said that it continues to receive broad market support for its partnership programme.
So far, it said, 29 market participants from the US, the UK, Asia and Continental Europe have joined to back the joint objective of building a liquid alternative to clear euro-denominated over-the-counter interest rate derivatives in the EU27 (the European Union minus the UK).
Turning to market activity statistics, Eurex said that in June, average daily cleared volume in interest rate derivatives increased to €67 billion from €8 billion last June.
Notional outstanding stood at €7.2 trillion compared to €1.5 trillion end of June last year.
It calculated that this means that Eurex Clearing now holds a market share of roughly 8 percent in the global Euro-denominated interest rate derivatives market.
It added that there is no evidence for the concern of market participants that a fragmentation of the existing liquidity pool would lead to significant cost increases in particular for EU27 buy-side firms.
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