Eurex has extended the offering of its Trade Entry Services (TES) for all customers based in the United States, vastly expanding the network of its trading participants to a previously untapped market for the exchange, according to a Eurex statement.
Per the new capabilities afforded with the decision, Eurex TES will facilitate the entrance of trading participants into their respective off-book transactions into the comprehensive Eurex data system, in essence helping them to achieve a higher degree of flexibility of customized trading.
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The action is important as it theoretically opens up the trading capabilities to one of the world’s largest economic blocks, which will aim to extend several advantages to trading participants by way of clearing and settlement initiatives, all conducted via Eurex. Eurex TES will foster functionalities such as block and vola trades, exchange-for-physical and exchange-for-swap transactions – flexible contracts are also supported.
Furthermore, the extension will also ensure that all off-book trades will be processed for the entirety of Eurex’s product suite, as approved by the US Commodity Futures Trading Commission (CFTC), the country’s paramount regulatory authority. The TES will encompass a wide range of asset classes, which include foreign exchange (FX) futures, equity index futures, fixed income futures and options, among others.
Earlier this month, Eurex made headlines when it reported its volumes for the month ending October 2015, having incurred a staunch decline MoM when compared to September 2015. In particular, Eurex’s leading installment of equity index derivatives (combining both equity options and single stock futures) saw a volume of just 58.1 million contracts in October 2015, down -35.9% MoM from 90.6 million contracts in September 2015.