International derivatives market Eurex Exchange has launched a new incentive program which reduces its connection fee by 50% for 18 months – for both existing and new participants from Asia and Australia.
The offer is available from October 2012 to 31 December 2013.
As well as the significant reductions in connection fees, Eurex and will grant additional volume-based discounts for Asian-based subsidiaries of existing Eurex members.
A second component of the scheme is for members registered in Asia which are affiliated with an existing non-Asian Eurex member. This offer grants those Asian-based clients the same reductions in trading fees reached by the respective affiliated non-Asian Eurex member.
The offer is aimed at new Eurex customers that are based in Asia or Australia and are admitted to Eurex between 1 January 2012 and 31 December 2013. The discount will be for 18 months from the date of admission.
Eurex is also expanding bandwidth at its network access points in Hong Kong and Singapore. From January 2013 participants will be able to connect at up to 80 Mbit/s. Until now, the maximum has been 2 Mbit/s.
“By making these improvements we aim to further drive our strategic objective of offering Asian and Pacific-based participants high-speed and cost-efficient access to European exchange-traded derivatives and clearing services,” said Michael Peters, executive board member, Eurex.
Meantime, NYSE Euronext and the Taiwan Futures Exchange (TAIFEX) have agreed to explore bilateral business opportunities and connect their respective customer bases in Asia, Europe and the US through NYSE Euronext’s order routing system. The co-operation will support the development of futures and options markets at both bourses and serves as a framework for developing products, establishing a two-way order routing partnership to facilitate reciprocal order flow and explore distribution channels.
“Taiwan is a major trading market for futures and options in Asia and as a group, NYSE Euronext is actively seeking strategic opportunities that enhance our regional footprint,” said Dominique Cerutti, president and deputy CEO, NYSE Euronext.
“In response to the rapidly changing global financial landscape, collaboration between exchanges has become increasingly important,” said Steve Wang, president of TAIFEX.