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Societe Generale, one of Europe’s leading financial services groups, now offers full support for the Eurex FX Futures – from clearing to trading.
Extending Societe Generale’s existing clearing and sales offering, the bank now offers clients the ability to trade FX on Eurex Exchange. Any Eurex FX client can now also execute bilaterally off-exchange against the bank whenever they need immediate, large scale risk transfers, or to move between OTC FX and Listed FX using EFP (exchange for physical).
Chris Callander, UK Head of FX Futures Sales & Trading and Client Facilitation at Societe Generale, said: “We are very pleased to add a European exchange to our current FX futures product offering. We look forward to helping clients build and maintain their FX positions at Eurex using our Block futures and EFP capabilities.”
Carlo Kölzer, CEO of 360T and Global Head of FX at Deutsche Börse Group, said: “Many clients have told us a catalyst for their increased use of FX Futures will be a tertiary pool of off-exchange liquidity to complement our strong orderbook proposition, so we welcome Chris’ trading desk as a primary off-exchange provider in the FX space. With clearing enabling important new trading relationships to be formed without the need for bilateral credit or operational agreements, and off-exchange being the bridge between OTC and listed markets, our clients now have choice over how to access our FX Futures liquidity for any given trade.”
Deutsche Börse Group’s FX strategy uses the Group’s breadth and depth of services to enable customers to choose the optimal product, execution, clearing and settlement models, in order to survive and thrive in an environment with increasing focus on the portfolio cost and impact of each trade.
Eurex FX Futures are already available in EURUSD, GBPUSD, AUDUSD, USDJPY, USDCHF, EURCHF, EURGBP, GBPCHF, EURJPY, AUDJPY, EURAUD, NZDUSD, all with quotation of the pairs as well as precision and tick sizes entirely in-line with OTC FX standards.
This announcement was first published in a press release by 360T on 18 July 2019.