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European equity derivatives lead the way at Eurex in November

Datum: 05. Dez 2019 | Eurex

European equity derivatives lead the way at Eurex in November

Eurex’s European equity derivative volumes showed strong growth / New record set for Open Interest in MSCI derivatives

Eurex, a globally leading derivatives exchange, recorded a second consecutive month of strong growth in European equity derivative volumes. Traded contracts were up 19 percent year-on-year in November to 32.7 million following on from a 45 percent year-on-year rise in October. Double digit growth was also recorded in the OTC clearing space. 

While the overall picture in November was mixed, with volumes across several types of contracts showing negative growth, several areas nevertheless stood out. For instance, a monthly record was set for Open Interest in MSCI derivatives – month end Open Interest reached 3.04 million contracts in November, beating August’s record of 2.80 million. 

OTC clearing was also a very strong performer for Eurex in November. Notional outstanding volumes rose 36 percent to 14,319 billion EUR from 10,536 billion EUR in November 2018. And average daily cleared volumes jumped 110 percent to 144 billion EUR from 69 billion EUR in November last year. 

EEX, the Leipzig-based European Energy Exchange that is part of Deutsche Börse Group, increased its total Power Derivatives volumes by 5 percent to 366.7 TWh compared to the same month last year. Notable growth was recorded in French power futures contracts (up 35 percent to 48.1 TWh), Spanish power futures (up 40 percent to 15.7 TWh), and Central and Southeastern European power futures which climbed 88 percent to 28.3 TWh in November 2019 from 15.1 TWh in November 2018.

Eurex Repo, the leading electronic market for secured funding and financing, saw a significant rise in its GC Pooling volumes – up 45 percent to 59 billion euros – compared to the same month last year. This followed on from a 42 percent year-on-year rise in October.

Business overview

 Nov 19Nov 18Change
Financial derivatives: Traded contracts Eurex Exchange       
European equity index derivatives (million)64.471.9-10%
European interest rate derivatives (million)39.350.0-21%
European equity derivatives (million)32.727.5+19%
Total (million)1138.2149.5 -8%
OTC Clearing2   
Notional outstanding volumes (billion EUR)14,31910,536+36%
Average daily cleared volumes (billion EUR)14469+110%
Commodities: Trading volumes EEX   
Electricity (terawatt hours)547.7512.7+7%
Gas (terawatt hours)195.0193.4  +1%
Emissions trading (million tons of CO2)113.6213.4-47%
Repo business: Average monthly outstanding volume on Eurex Repo   
GC Pooling3 (billion Euro)59.040.8+44.6%
Repo Market (billion Euro)41.160.8-32.4%

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.