Eurex expands Partnership Program model to cover credit index derivatives
Eight financial institutions have already joined the model, including Goldman Sachs, JP Morgan, Jane Street and Morgan Stanley.
Eight financial institutions have already joined the model, including Goldman Sachs, JP Morgan, Jane Street and Morgan Stanley.
The move marks a further expansion of the service’s current clearing house coverage, which also includes LSEG’s LCH, CME Clearing and Japan Securities Clearing Corporation (JSCC).
The transaction mobilised collateral for Dutch pension fund PGGM using distributed ledger technology provided by HQLAx and Clearstream, marking a first for a central counterparty globally.
Trading will start in September 2025 and is expected to strengthen liquidity in the EU bonds market.
New development will be available for all equity options and futures traded on Eurex, alongside all foreign exchange (FX) derivatives.
Specifically, EURO STOXX 50 Index Dividend Options and EURO STOXX Banks Index Dividend Options can now be directly traded from the US.
Speaking at a closed roundtable on Tuesday, Erik Müller, chief executive of Eurex Clearing, described repo as “the oil in the wheels of financial markets”.
Development builds upon the launch of FTSE Bitcoin index futures and options last year, with the new Ether offering listed in EUR and USD.
The asset manager will expand its FX futures business to Eurex, supported by Banco Santander as clearing member and Deutsche Bank as liquidity provider.
Roll-out will be staggered in strategic phases over the coming months, with the full integration across pricing, execution and lifecycle management targeted for a Q3 2024 launch.