Cboe Europe Derivatives secures support for single stock options
19 October 2023 Europe
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Cboe Global Markets has secured support to launch single stock options on Cboe Europe Derivatives (CEDX), where it will offer options on 133 companies from 12 European countries.
CEDX, Cboe Europe B.V.’s pan-European equity derivatives exchange, will begin offering equity options from 6 November 2023. It plans to broaden its universe of available products by the end of Q1 2024.
Interactive Brokers has committed to connecting to CEDX to provide its clients with access to the suite of pan-European equity derivatives offered by the exchange, including single-stock products.
The firm will become a direct trading participant on CEDX and a direct clearing participant for equity derivatives on Cboe Clear Europe N.V., Cboe's pan-European clearinghouse.
ABN AMRO Clearing, All Options, Barak Market Making and Goldman Sachs are among those participants supporting the firm’s expansion into equity options.
Commenting on the news, Iouri Saroukhanov, head of European derivatives, Cboe Europe, says: "We are delighted to have secured the support of such a strong group of participants to support the launch of single stock options on CEDX.
“Their support demonstrates the need for a more efficient options marketplace in Europe as envisioned by CEDX, which is designed from a pan-European point-of-view, increases competition and lowers barriers to entry for institutional and retail investors.”
He adds: “CEDX will offer efficiencies to options participants from a trading and clearing perspective, including margin efficiencies and domestic stock settlement on options exercise, to help grow options markets in Europe.”
Milan Galik, CEO at Interactive Brokers, comments: "We are thrilled to incorporate access to CEDX, which aligns with our dedication to offering clients an extensive range of global investment products. We applaud Cboe's roll-out of European equity derivatives and believe this move will stimulate more market activity, enriching the portfolio of investment opportunities for our clients.”
CEDX launched in September 2021, initially offering trading in futures and options based on key Cboe Europe single country and pan-European indices, with clearing provided by Cboe Clear Europe. N.V.
The exchange has been designed to promote on-screen liquidity and offers a single access point to pan-European equity derivatives products, creating operational and capital efficiencies to participants.
CEDX, Cboe Europe B.V.’s pan-European equity derivatives exchange, will begin offering equity options from 6 November 2023. It plans to broaden its universe of available products by the end of Q1 2024.
Interactive Brokers has committed to connecting to CEDX to provide its clients with access to the suite of pan-European equity derivatives offered by the exchange, including single-stock products.
The firm will become a direct trading participant on CEDX and a direct clearing participant for equity derivatives on Cboe Clear Europe N.V., Cboe's pan-European clearinghouse.
ABN AMRO Clearing, All Options, Barak Market Making and Goldman Sachs are among those participants supporting the firm’s expansion into equity options.
Commenting on the news, Iouri Saroukhanov, head of European derivatives, Cboe Europe, says: "We are delighted to have secured the support of such a strong group of participants to support the launch of single stock options on CEDX.
“Their support demonstrates the need for a more efficient options marketplace in Europe as envisioned by CEDX, which is designed from a pan-European point-of-view, increases competition and lowers barriers to entry for institutional and retail investors.”
He adds: “CEDX will offer efficiencies to options participants from a trading and clearing perspective, including margin efficiencies and domestic stock settlement on options exercise, to help grow options markets in Europe.”
Milan Galik, CEO at Interactive Brokers, comments: "We are thrilled to incorporate access to CEDX, which aligns with our dedication to offering clients an extensive range of global investment products. We applaud Cboe's roll-out of European equity derivatives and believe this move will stimulate more market activity, enriching the portfolio of investment opportunities for our clients.”
CEDX launched in September 2021, initially offering trading in futures and options based on key Cboe Europe single country and pan-European indices, with clearing provided by Cboe Clear Europe. N.V.
The exchange has been designed to promote on-screen liquidity and offers a single access point to pan-European equity derivatives products, creating operational and capital efficiencies to participants.
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