Eurex Kicks Off 2024 with Trading Volume Surge: Up 6% from Last Year

by Damian Chmiel
  • Equity derivatives and index volumes fall, but OTC and GC Pooling volumes rise.
  • What is more, interest rate derivatives were up 34%.
Eurex
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Europe's leading derivatives exchange entered the new year with positive overall trading volume dynamics, which increased 6% compared to January of the previous year. Eurex reported an increase in activity from 144.6 million contracts to 152.7 million. However, on a monthly basis, the result was 8% lower; in December, the same indicator reached 165.8 million.

Eurex Reports January 2024 Trading Volume

The most significant growth area was interest rate derivatives, which saw an increase of 34% in volume year-over-year (YoY). 73.6 million interest rate derivative contracts traded on Eurex in January 2024, an improvement from 54.7 million in January 2023.

On the other hand, equity derivatives fell 17% to 17.4 million contracts, a fall from 20.9 million in January 2023. Index derivatives also declined, with volume decreasing 11% to 61.4 million contracts, compared to 68.7 million in the prior year period.

In OTC clearing , notional outstanding volumes grew 8% in January 2024 over the same month last year, reaching €33.5 trillion versus €31.1 trillion. Interest rate swap notional outstanding specifically rose 9% to €14.4 trillion.

Eurex Repo, Eurex's electronic market for secured funding, saw strong volume growth in the last month. Average daily GC Pooling volume jumped 57% to €128.9 billion. GC Pooling is a secured lending market operated by Eurex Repo. It allows financial institutions to borrow and lend cash on a short-term basis, using high-quality collateral such as bonds and equities.

Additionally, the overall average daily term-adjusted repo volume increased 33% YoY to €338.9 billion.

A few days earlier, Deutsche Börse, which Eurex belongs to, reported the results generated by its cash markets. In January, this amounted to €105.01 billion, compared to €97.40 billion in December.

Eurex Summarizes 2023

For 2023, the total trade volume contracted by a modest 2% to 1,915.1 million contracts. This was primarily due to a stronger decline in the area of index derivatives, where the volume fell 9% to 871.7 million contracts. In the case of OTC Clearing, the average daily cleared volumes indicator increased 10% to €185 billion from €169 billion.

The GC Pooling category recorded the strongest growth, where appreciation amounted to 142% to €158.9 billion.

A week ago, the derivatives exchange appointed Robbert Booij from ABN Amro as its new CEO. "I knew Eurex well from my current role at ABN AMRO Clearing Bank N.V. and had the honor to be the Chairman of the Eurex Exchange Council,” Booij commented.

Europe's leading derivatives exchange entered the new year with positive overall trading volume dynamics, which increased 6% compared to January of the previous year. Eurex reported an increase in activity from 144.6 million contracts to 152.7 million. However, on a monthly basis, the result was 8% lower; in December, the same indicator reached 165.8 million.

Eurex Reports January 2024 Trading Volume

The most significant growth area was interest rate derivatives, which saw an increase of 34% in volume year-over-year (YoY). 73.6 million interest rate derivative contracts traded on Eurex in January 2024, an improvement from 54.7 million in January 2023.

On the other hand, equity derivatives fell 17% to 17.4 million contracts, a fall from 20.9 million in January 2023. Index derivatives also declined, with volume decreasing 11% to 61.4 million contracts, compared to 68.7 million in the prior year period.

In OTC clearing , notional outstanding volumes grew 8% in January 2024 over the same month last year, reaching €33.5 trillion versus €31.1 trillion. Interest rate swap notional outstanding specifically rose 9% to €14.4 trillion.

Eurex Repo, Eurex's electronic market for secured funding, saw strong volume growth in the last month. Average daily GC Pooling volume jumped 57% to €128.9 billion. GC Pooling is a secured lending market operated by Eurex Repo. It allows financial institutions to borrow and lend cash on a short-term basis, using high-quality collateral such as bonds and equities.

Additionally, the overall average daily term-adjusted repo volume increased 33% YoY to €338.9 billion.

A few days earlier, Deutsche Börse, which Eurex belongs to, reported the results generated by its cash markets. In January, this amounted to €105.01 billion, compared to €97.40 billion in December.

Eurex Summarizes 2023

For 2023, the total trade volume contracted by a modest 2% to 1,915.1 million contracts. This was primarily due to a stronger decline in the area of index derivatives, where the volume fell 9% to 871.7 million contracts. In the case of OTC Clearing, the average daily cleared volumes indicator increased 10% to €185 billion from €169 billion.

The GC Pooling category recorded the strongest growth, where appreciation amounted to 142% to €158.9 billion.

A week ago, the derivatives exchange appointed Robbert Booij from ABN Amro as its new CEO. "I knew Eurex well from my current role at ABN AMRO Clearing Bank N.V. and had the honor to be the Chairman of the Eurex Exchange Council,” Booij commented.

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