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Strong rise in European equity derivative volumes at Eurex

Erscheinungsdatum: 06. Nov 2019 | Eurex Exchange, Eurex Clearing, Eurex Group

Strong rise in European equity derivative volumes at Eurex

New records set for commodity ETFs and TRF

Eurex – Europe’s largest derivatives exchange and part of Deutsche Börse Group – experienced a strong rise in European equity derivative volumes, and several records were broken for commodity ETFs and TRF.

While overall volumes were down, October saw a very strong increase in equity derivatives, largely driven by Single Stock Futures which saw a 121 percent rise – from 10.8 million to 24.0 million traded contracts – compared to the same month in 2018. The monthly record for commodity ETF derivatives was broken with a little over 2 million traded contracts in iShares Physical Gold Options (IGLN). Euro STOXX 50® Index Total Return Futures (TESX) also broke a monthly record with over 450,000 traded contracts.

In the OTC clearing space, notional outstanding volumes for IRD rose by 27% (9,797 billion to 12,464 billion), while overall notional cleared volumes jumped 88 percent to 2,780 billion from 1,476 billion in October 2018, translating to ADVs of 121 and 64 billion respectively. Of special interest was the OTC IRS volume increase in October 2019, where notional outstanding rose by nearly 80% compared to October 2018 (2,709 billion to 4,856 billion), with an ADV increase of almost 100% (9 billion to 17 billion).

EEX, the European Energy Exchange based in Leipzig, increased its year-on-year volumes in the power derivatives market by 5 percent to 356 TWh (339.3 TWh in October 2018). UK power futures saw a new monthly record, more than doubling to 296,110 MWh from 125,070 MWh in October 2018. And double-digit growth was achieved in power futures for Central/South-Eastern Europe (+55 percent), Spain (+38 percent), and Germany (+16 percent).

At Eurex Repo, the leading international financing provider for the secured money market business, average outstanding volume in the GC Pooling Market rose by 42.1 percent in October compared to the same month in 2018 (from 33.7 billion to 47.9 billion).

Business overview


Oct 19

Oct 18

Change

Financial derivatives: Traded contracts Eurex Exchange




European equity index derivatives (million)

79.6

96.2

-17%

European interest rate derivatives (million)

41.5

58.2

-29%

European equity derivatives (million)

41.2

28.4

+45%

Total (million)1

164.4

183.4

-10%

OTC Clearing




Notional outstanding volumes (average value) (billion EUR)

12,464

9,797

+27%

Average daily cleared volumes (billion EUR)

121

64

+88%

Commodities: Trading volumes EEX




Power (terawatt hours)

356.0

339.3

+5%

Gas (terawatt hours)

214.0

191.5

+12%

Emissions trading (million tons of CO2)

111.3

241.5

-54%

Repo business: Average monthly outstanding volume on Eurex Repo




GC Pooling3 (billion Euro)

47.9

33.7

+42%

Repo Market (billion Euro)

42.8

53.8

-20%


1) The total number of contracts traded includes other asset classes such as commodities.
2) Notional cleared volumes including post trading events such as compression.
3) Includes all currencies.

 

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