The exchange reported a 15% decrease in total trading volume compared to the same period last year, with equity derivatives recording the biggest loss.
Eurex, the largest futures and options exchange in Europe, reported a 15% decrease in total trading volume to 115.7 million contracts last month. Index derivatives volumes fell by 13% to 50.8 million while equity derivatives dropped 20% from April 2022 to 23.4 million. Interest rate derivatives fell by 16% to 41.5 million traded contracts.
However, OTC clearing saw a stronger performance, with overnight index swaps (by notional outstanding) increasing by 52% in April, year-on-year, to EUR2.9 trillion. Average daily cleared volumes saw an even sharper jump, rising 88% to EUR88 billion over the same period. Total notional outstanding increased 21% to EUR33.1 trillion.
The repo market also delivered a strong performance. Eurex repo, one of the biggest electronic markets for secured funding and financing in Europe, saw daily GC pooling volumes jump 172% in April to EUR149 billion, while average daily repo volume rose 41% to EUR210 billion. Last week, State Street chose Eurex to execute its first centrally cleared repo trades in Europe, giving the bank access to more than 160 registered participants and around 13,000 securities – and marking the growing interest in (and growth of) the European repo market from both domestic and external participants.
In March, Eurex became the first European exchange to launch Bitcoin index futures, which started trading on 17 April 2023 in partnership with FTSE Russell and Digital Asset Research.
Eurex parent company Deutsche Borse held its Annual General Meeting this week (16 May), during which CEO Theodor Weimer outlined strong expectations for growth following a record year in 2022. The group is directing focus towards growing its data capabilities (following in the footsteps of competitors such as LSEG) with the planned acquisition of Danish software specialist Simcorp.
©Markets Media Europe 2023
