Eurex FX Futures Now Traded by Asset Manager Union Investment

The asset manager has started using the product after seeing an uptick in demand.

European asset management firm Union Investment has started trading Eurex foreign exchange (forex) futures, the pan-European exchange announced this Wednesday.

Union Investment has decided to adopt the FX futures after seeing an uptick in demand for the product, the statement said. As part of its forex offering, Eurex has monthly and quarterly forex futures as well as rolling spot futures in order to support both the buy and sell-side.

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Initially, the asset manager will only trade the forex futures, however, in the future it plans to expand its offering to also include the rolling spot futures, as well as the 360T off-exchange liquidity pool.

The Eurex forex futures are available in 12 currency pairs – EURUSD, GBPUSD, AUDUSD, USDJPY, USDCHF, EURCHF, EURGBP, GBPCHF, EURJPY, AUDJPY, EURAUD and NZDUSD

Christoph Hock head of multi-asset trading at Union Investment
Christoph Hock
Source: Worldwide Business Research

Speaking on the reasoning behind the move, Christoph Hock, Head of Multi-Asset Trading at Union Investment said: “We are now using Eurex FX Futures in our overlay strategies. Eurex gives us access to reliable and growing FX liquidity in an European exchange, where the pricing granularity matches our OTC exposures.”

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“We have started with the Eurex monthly and quarterly expiries, and intend going forward to make use of the Rolling Spot Futures too, as well as the 360T off-exchange liquidity pool when we need bilateral pricing in size.”

More market participants take on Eurex FX Futures

Today’s announcement comes just days after Societe Generale revealed that it had expanded its FX offering to support trading and clearing of Eurex FX futures for its clients. 

As Finance Magnates reported, the move was designed to help drive and foster the French bank’s global forex business, part of a broader shift by the lender in the FX space.

Carlo Kölzer, ceo of 360t Eurex
Carlo Kölzer, CEO of 360T
Source: 360T

“Union Investment is an important client for us, and this feedback is representative of the typically favourable response we are getting to our family of listed FX products,” added Carlo Kölzer, Global Head of FX at Deutsche Börse Group and CEO of 360T.

“… With key FX market participants on both maker and taker sides finalising their access to Eurex FX Futures, we look forward to further deliver on our ethos of giving clients the right choice of product, execution model, and clearing and settlement model to get their best FX trading outcome.”

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