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Eurex | Eurex Clearing
The first quarter 2019 once again confirmed our very successful strategy on MSCI derivatives. Being one of our core strategic pillars, the MSCI product suite broke a new record with 4.7 million traded contracts – the highest level of MSCI contracts ever traded at Eurex in one single quarter.
MSCI Futures & options grew in total by 3% vs 4th quarter 2018 and by 14% vs 1st quarter 2018. In particular the Options grew well with +43% vs 4th quarter 2018, as end clients are building up hedge positions at the beginning of the year.
Open Interest statistics across the MSCI Derivatives segment were even more robust. At the end of Q1 2019, it was at 2.26 mn contracts and EUR 94 billion measured in notional, up 24 percent in notional terms from Q4 2018. Futures on MSCI EM Asia and MSCI World, as well as options on MSCI EM and EAFE accounted for most of those inflows.
The extension of our trading hours in December 2018 and subsequent incentives have directed more flows from Asian desks to Eurex. MSCI China and MSCI Japan contracts have seen an increase of open interest in notional terms of 176% and 42%. We are optimistic that this trend will continue as Asia plays an ever-increasing role in the global markets.
The MSCI Derivatives franchise is one of our stronger growth segments, and we plan to make it even stronger. In the beginning of April, we will launch 26 additional futures and one option – mostly on MSCI World and MSCI EM sector indexes. In the second half of 2019 we expect to launch futures on the MSCI World, MSCI EM and MSCI EAFE Dividend Point indexes. All these launches are driven by our clients’ demand for better hedging products.