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Union Investment, one of Europe’s leading asset managers for private and institutional clients, has started trading Eurex FX Futures after seeing growing traction in the product as part of their overall FX portfolio strategy.
Eurex offers monthly and quarterly FX Futures as well as Rolling Spot Futures to best support both the buy and the sell side. The products are a component of Deutsche Börse Group’s FX strategy, consisting of the FX offerings at Eurex and 360T. They provide customers with the optimal product, execution model as well as clearing and settlement models, thus helping them navigate the current market environment with increasing focus on the portfolio cost and impact of each trade.
“We are now using Eurex FX Futures in our overlay strategies. Eurex gives us access to reliable and growing FX liquidity in an European exchange, where the pricing granularity matches our OTC exposures.” says Christoph Hock, Head of Multi-Asset Trading at Union Investment. “We have started with the Eurex monthly and quarterly expiries, and intend going forward to make use of the Rolling Spot Futures too, as well as the 360T off-exchange liquidity pool when we need bilateral pricing in size.”
Carlo Kölzer, Global Head of FX at Deutsche Börse Group and CEO of 360T says: “Union Investment is an important client for us, and this feedback is representative of the typically favourable response we are getting to our family of listed FX products. With client understanding of UMR and the portfolio cost benefits of using listed and cleared FX, our Rolling Spot Futures which have no basis to quarterly dates can be an enabler for mandates that were previously not possible to proceed with using traditional listed FX. With key FX market participants on both maker and taker sides finalising their access to Eurex FX Futures, we look forward to further deliver on our ethos of giving clients the right choice of product, execution model, and clearing and settlement model to get their best FX trading outcome.
The Eurex FX Futures are available in EURUSD, GBPUSD, AUDUSD, USDJPY, USDCHF, EURCHF, EURGBP, GBPCHF, EURJPY, AUDJPY, EURAUD, NZDUSD.
This announcement was first published in a press release by 360T on 24 July 2019.