Market-on-Close Futures

A listed solution for basis trading                 

Eurex Market-on-Close Futures are designed to deliver multiple benefits to a market that, so far, has been dominated by OTC trading. Traditionally, basis, or market-on-close (MOC), trading requires high operational efforts with limited risk management opportunities as the basis is usually agreed on in the inter-dealer-broker market. While the basis is determined before the market close, the respective index futures trades must be entered into the Eurex® system after closing. This, amongst other harbors slippage costs.

In most cases, a MOC transaction has to be split into several trades as the final price (agreed basis plus index close level) is more granular than the index futures' tick size. That means that in order to enter them into TES Block Trade, MOC off-book transactions must be large enough in size to allow them to be split to achieve the desired final price. 

By providing an on-exchange solution, Eurex supports MOC trading by futurizing basis trading in line with the regulatory agenda.

Eurex MOC Futures on EURO STOXX 50® Index Futures (FES1)


Key Benefits

  • Cost-efficient:
    Eurex MOC futures only need one single execution to achieve the exact final futures price – eliminating slippage risk.
  • Easy to trade:
    As an exchange-traded contract, Eurex MOC futures offer traders the benefit of STP, thereby significantly reducing a trader’s front office workload.
  • Easy to access:
    Eurex MOC Futures can be traded at any size via the order book – the contract size can be adjusted in increments of one – or via TES Block Trade with a minimum size of 500 contracts.
  • Risk management included:
    After the basis transaction, Eurex MOC Futures will be immediately included in the risk management system.
  • Provides transparency:
    On-exchange trading offers immediate liquidity and public price information.


Need to know

Based on Europe’s top 50

Our first contract in this segment covers one of the most liquid index futures worldwide: the EURO STOXX 50® Index Futures. Click here for volumes and more.


More efficiency and less risk

Eurex Market-on-Close Futures (Eurex MOC Futures) were developed to facilitate basis trading, where OTC trading becomes difficult.


Market Makers

Market Makers

CompanyMember IDContactPhone number
Flow Traders  

NEDAM

Institutional Trading 

+31-20-799-67 77

DRW Investments (UK) Ltd. LOTLO         Chadwick Miller 

+44-20-70 31-13 69


Execution Broker

Execution Broker

CompanyMember IDContactPhone number
GFI Securities Ltd 

GFILO

Grégory Dumousseau

+33-17-670-35 52

OTCex Group 

PAFPA

Myles Dennigan

+44 207 959 0044

Vantage Capital

VCMLO

Vantage Execution

+44 203 107 5220


Highlights

Facilitating convenient basis trading with Eurex Market-on-Close

Basis, or market-on-close (MOC), trading traditionally involves higher operational efforts and limited risk management as the basis is usually agreed on in the inter-dealer-broker market prior to the close of the cash markets. Learn how Eurex MOC Futures are designed to deliver multiple benefits to a market that is traditionally dominated by OTC trading in this animated video.

A listed solution for basis trading: Eurex Market-on-Close

Interview with Pieter Entius, Head of Trading, Flow Traders Higher efficiency and less risk - Eurex Market-on-Close Futures are designed to deliver multiple benefits to a market that has so far been dominated by OTC trading. Watch our interview with Pieter Entius, Head of Trading at Flow Traders, sharing his insights what are the key drivers and benefits from a perspective of a Market Maker.

Contacts

Nicolas von Kageneck

Paris Representative Office | Eurex - Global Equity & Index Sales
Sales

75008 Paris

T +33-1-55 27-67 69
F +33-1-55 27-6750

Tobias Ehinger

Eurex Frankfurt AG | Equity and Index Product Research and Development

65760 Eschborn

T +49-69-211-1 23 13


Market Status

XEUR

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