Eurex, the Frankfurt-based international derivatives exchange, has introduced a series of cost incentives to attract new members to its platform.
The Eurex Membership Incentive applies to the first year of membership to Eurex and will be available to potential clients worldwide as well as customers that joined on after 1 January 2009. Eurex will waive the €9,000 minimum transaction fees per quarter for all new customers for the first year, while transaction and connection costs will also be reduced depending on the extent of trading activities. Eurex estimates the potential cost savings per potential customer for the first year of membership to range from €27,000 to €54,000.
In addition, users of trading algorithms will be refunded the costs of accessing simulation environments for Eurex’s Enhanced Broadcast Solution and Enhanced Transaction Solution interfaces for a period of up to six months.
“With our extended incentive initiative, we are optimising the terms of access and the trading conditions at Eurex for our new members,” said Michael Peters, member of the Eurex executive board.
The new initiative replaces the Global Connectivity Programme, which ran in 2007 and 2008. Under the programme, 43 new participants, trading almost 157 million contracts, connected to Eurex in 2008.