Eurex Clearing has cleared its first cross currency swap transactions, with the trades being submitted by JP Morgan and Morgan Stanley. In a release issued today, Deutsche Börse Group says that cross currency swaps represent an “important component” of its overall FX strategy, which it is executing across Eurex, Eurex Clearing and 360T. Eurex Clearing’s […]
Chris Soutar has joined Eurex in a global FX sales role. Based in London, Soutar joins from Investec, where he held a similar FX sales role since 2017. Prior to that, Soutar spent over three years at Currenex, most recently as assistant vice president, European sales and client relations. He also spent three years as […]
Societe Generale (SG) is now supporting Eurex FX futures, from clearing to trading. SG’s clients will now be able to trade FX on Eurex, while any of the exchange’s clients will be able to execute bilaterally off-exchange against the bank or to move between OTC FX and listed FX using exchange for physical (EFP). Chris […]
CME Group’s TriOptima says it has reduced notional outstanding at Eurex Clearing by 26% following a record compression run on June 26, 2019. The latest run, which equates to $3.9 trillion worth of cleared euro interest rate swaps (IRS) and forward rate agreements (FRAs), represents a 143% increase on the previous record of $1.6 trillion. […]
Remember to download and subscribe to In the FICC of It at the Apple iTunes store and this week you can enjoy Colin Lambert and Galen Stops stepping into tricky territory by discussing actual economic things! As always seems to be the case Lambert is mystified by a US government decision, while Stops suddenly has […]
Galen Stops takes a closer look at the new latency mechanism being introduced to FX and certain equity options products by Eurex, in a bid to improve the order book. Speed bumps seem to be the topic de jour in the listed derivatives markets just now, with the Intercontinental Exchange (ICE) winning approval to implement […]
Flow Traders has become a liquidity provider for Eurex FX futures products.
Effective immediately, Flow Traders will provide liquidity throughout the whole range of monthly and quarterly deliverable FX futures, as well as in the non-deliverable rolling spot futures offered by Eurex.
Robbert Sijbrandij, head of FX at Flow Traders, says: “As a specialist liquidity provider focused on exchange traded products (ETPs), we welcome the FX futures offering from Eurex, which broadens the reach and potential of listed currencies globally. We believe Eurex rolling spot FX futures will be a great addition to our FX portfolio. Going forward, Flow Traders will provide liquidity in all Eurex FX futures on a continuous basis. We look forward to working with Eurex on this.”
FIA together with affiliate FIA Tech, today announced new technical guidelines for firms to properly identify the correct brokerage when executing and clearing exchange traded derivatives.
With the proliferation of execution services, platforms and providers there is increased need for clarity in how to communicate a trade’s execution method through industry standard codes, the groups said in a statement. Brokerage discrepancies are one of the largest causes of operational friction in the reconciliation of exchange traded derivatives, and lack of standardisation has created significant costs for clearing firms and their clients, they noted, adding that by working with FIA’s membership as well as FIA Tech’s global customer base, “the industry has devised standard codes for commonly used execution methods”.
ABN AMRO Clearing today has started clearing Eurex FX futures and options for its clients.
The group now provides immediate support for the “classic FX” derivative contracts with attributes including monthly and quarterly expiries, as well as the rolling spot futures product that is now live.
“Our clients have made our decision to support the Eurex FX exchange traded derivatives offering very easy,” says Michael van Dijk, global product manager, FX, at ABN AMRO Clearing. “We consistently post over 20% market shares of transactions cleared on most relevant derivatives exchanges globally.”
In this week’s In the FICC of It podcast, Colin Lambert apologises to the English nation and Galen Stops talks about the needs of a millennial.
They also discuss the week’s news from the FX world including SGX launching futurised OTC products and LCH going live with deliverable FX options clearing, as well as deliberate upon how hedge fund performance is measured; US regulators’ attitudes to cryptocurrencies; and the latest blow to the desktop terminal industry. They close out with a quote from their favourite profession – the legal industry – which rather aptly reinforces something Colin Lambert has been saying for some years – and let’s face it, if he says enough at some stage a lawyer somewhere will have to agree, it’s the law of averages!
In case you missed some of the original coverage this week, you can catch up here:
SGX Launches “Futurised” OTC FX Product
LCH Goes Live with Deliverable FX Options Clearing
US Regulators Shift Attitudes Regarding Cryptocurrencies
Hedge Funds Suffer in June: BarclayHedge
And Finally…(subscription required)