Eurex opens its markets to a broader US client base
17 September 2024 Germany, US
Image: Ariel_Studio/stock.adobe.com
Eurex will now allow introducing brokers to become direct exchange members in an effort to open its markets to further member groups in the US.
It follows a decision in July by the Commodity Futures Trading Commission (CFTC) to approve final rules amending Part 48 of its regulations.
This change allows CFTC-registered foreign boards of trade (FBOT) to give US introducing brokers — which are registered with the CFTC — direct access to their electronic trading systems.
Introducing brokers generally act as intermediaries between clients and brokers.
So far, US market participants utilising introducing brokers to trade on Eurex have been limited to non-US-based introducing brokers, many of whom were not available after markets closed in Europe, the firm says.
The new regulation and Eurex’s new offer will enable US clients to continue to execute via US introducing brokers for the full US trading day.
A wide range of European and global benchmark derivatives can be traded on Eurex until the end of the US trading day, these include flagship derivatives such as EURO STOXX 50, STOXX Europe 600, German bond futures or a broad range of MSCI derivatives.
Robbert Booij, CEO of Eurex, comments: “Providing clients with easy access to our markets is a top priority for us. This latest move offers US market participants greater choice and will provide them with greater efficiency in terms of trading and risk management.”
It follows a decision in July by the Commodity Futures Trading Commission (CFTC) to approve final rules amending Part 48 of its regulations.
This change allows CFTC-registered foreign boards of trade (FBOT) to give US introducing brokers — which are registered with the CFTC — direct access to their electronic trading systems.
Introducing brokers generally act as intermediaries between clients and brokers.
So far, US market participants utilising introducing brokers to trade on Eurex have been limited to non-US-based introducing brokers, many of whom were not available after markets closed in Europe, the firm says.
The new regulation and Eurex’s new offer will enable US clients to continue to execute via US introducing brokers for the full US trading day.
A wide range of European and global benchmark derivatives can be traded on Eurex until the end of the US trading day, these include flagship derivatives such as EURO STOXX 50, STOXX Europe 600, German bond futures or a broad range of MSCI derivatives.
Robbert Booij, CEO of Eurex, comments: “Providing clients with easy access to our markets is a top priority for us. This latest move offers US market participants greater choice and will provide them with greater efficiency in terms of trading and risk management.”
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