Eurex’s move has been made possible by the recognition of its clearing arm as an 'overseas clearing house' by the UK Financial Services Authority. Single-stock futures are already offered by Eurex on companies in all other main European markets. Adding the 17 UK names means it now offers more than 400 different futures on various European companies. Peter Reitz, a member of the board at the exchange, said customers would benefit from cross-margining with its other products.
UK single-stock futures are already offered by London-based Euronext.liffe, whose parent company Euronext completed its merger with NYSE Group today (April 4). Eurex's parent firm Deutsche Börse had rivalled NYSE's bid during talks with Euronext, which broke down last November.