The Dutch financial regulator has given approval for Netherlands-based traders to use Eurex US, the new Chicago-based futures and options exchange.Eurex US said 2,200 traders can now access its trading system from a number of countries other than the US, including Germany, Switzerland, Sweden and the UK. It added, however, that formal recognition of Eurex US by the UK’s Financial Services Authority is still pending, although British companies can still trade on the basis of an ‘overseas persons exclusion’ rule.
Frankfurt-based Eurex launched its US initiative on February 8 in direct competition with the Chicago Board of Trade and its benchmark US Treasury bond and note futures contracts. Trading volumes have to date been low, but Eurex US is awaiting Commodity Futures Trading Commission approval for an international clearing link between its European and North American operations, which it hopes will improve its competitive position. It also intends to expand its offerings to include trading in futures and options on Euro-denominated interest rate products and European and US equity indexes.
More on Exchanges
Acquisitions made up for some shortfalls in exchange revenues
Chicago-based exchange targets China, India and LatAm growth
Stock exchange group has “excess cash”, says group CEO
Increased volatility will spur demand for risk management tools in Asia
Sign up for Risk.net email alerts
Sponsored video: MarketAxess
Sponsored video: Tradeweb
Multifonds talks to Custody Risk on being nominated for the Post-Trade Technology Vendor of the Year at the Custody Risk Awards 2014
Sponsored webinar: IBM Risk Analytics
There are no comments submitted yet. Do you have an interesting opinion? Then be the first to post a comment.