Xetra International Market (XIM), the pan-European trading operation of Deutsche Börse, has announced plans to expand the number of instruments it trades from 86 to 1,000.
By summer 2010, XIM plans to add 700 stocks from France, the Netherlands, Belgium, Finland, Spain and Italy, meaning all constituents of the EURO STOXX indices and other highly-liquid stocks from these six countries will be available for trading.
In the second half of 2010, XIM plans to augment its stock list further by adding securities from the STOXX Europe 600 index from Switzerland, the UK and Ireland. Swiss and UK stocks will be available in their respective domestic currencies, while Irish stocks will be available in euros. In addition, stocks in Austria, Poland, Denmark, Greece, Norway, Portugal and Sweden from the STOXX Eastern Europe 300 and further highly liquid securities from these seven countries will be added at the end of the year. All the additions are subject to national regulatory approval.
All trades on XIM are cleared using Deutsche Börse’s central counterparty, Eurex Clearing. Settlement occurs in each respective domestic home market, which the exchange claim limits the costs of trading on XIM.
According to figures from data vendor Thomson Reuters, trading volumes on XIM, which launched in November, have been small to date. The platform traded €109.6 million in February, representing a 0.02% pan-European market share.