The global home of MSCI derivatives

MSCI Indexes

MSCI indexes are some of the world’s most widely tracked benchmarks and linked to more than USD 16.3 trillion in AUM. The indexes also serve as the basis for over 1,300 Exchange Traded Funds (ETFs). The massive amount of capital benchmarked against MSCI indexes and the improved tradability of index-based products via ETFs has led to an increased need for futures and options. MSCI derivatives help managers facilitate in and outflows of funds, hedge existing equity exposure and enhance portfolio performance.

Over 180 MSCI derivatives

Eurex is the only exchange offering a comprehensive suite of products consisting of futures and options on regional and country indexes: currently, 156 MSCI futures and 26 MSCI options are available covering Emerging Markets (EM) and Developed Markets (DMs) in different index types (NTR, GTR and price indexes) and different currencies (EUR, USD, GBP and JPY).
 

Investors can now gain exposure to entire regions and single countries via Eurex’s MSCI index derivatives offering. The complete suite of products available covers developed, emerging and frontier markets and includes several attractive contracts based on popular benchmark indexes such as futures and options on:

  • MSCI World Index, covering the universe of developed markets as a whole
  • MSCI Europe Index, the leading benchmark for European equity funds
  • All important developed markets in all regions available via individual Futures e.g. MSCI Japan Index, Australia, USA, Canada, UK, France, …

With our regional MSCI Emerging Markets Index derivatives, our participants can not only gain access to leading regional benchmarks (broad EM, EM Asia, EM EMEA and EM LatAm), but also to single emerging market countries in Asia (such as China, India, Taiwan and Thailand), Eastern Europe (such Poland and Czech Republic), Africa (such as South Africa and Egypt) or Latin America (such as Mexico and Chile).


Growth Drivers

  1. Level playing field
    Clients can get competitive prices from dealers on products like MSCI EM (RBE) & EAFE (FFP) futures & benefit from increased orderbook volumes in top products such as MSCI World
  2. Ease of trading
    Eurex block trade rules are easier, and client can trade against index close easily with dealer
  3. Higher capital efficiency
    Margins are offset against other Eurex products (SX5E, MSCI, Dividends…)
    - Meaningful offset if clients trade other flagship Eurex products
    - Important if they trade other MSCI single country futures like MSCI Saudi Arabia or MSCI Japan etc.
    - In July 2021 Eurex reduced MSCI margins further on large/directional positions by introducing Hedging Auctions
  4. Buy-side flow indicates wider adoption
    Buy-side now represents over 24% of Eurex MSCI derivatives flow
  5. Wide offering makes it easier to find better fit
    - NTR Versions: Eurex offers NTR versions on EM (ZTS) and EAFE (FFA) and most indexes, rather than just price variations
    - Options: Eurex offers MSCI Options on the same platform. Margins are offset between options and futures
    - ESG indexes: Eurex offers Screened and Enhanced Focus methodologies on the benchmark MSCI indexes
    - Sector, Factor and Thematic Indexes: Eurex offers Sectors on EM & World indexes; Factor indexes on regions and country indexes and thematic indexes
  6. Cheaper
    Eurex fees are 75% cheaper than competitors
  7. Extended trading hours covering all time zones
    Asian hours trading has been crucial to compete & price in Emerging Markets

Key Benefits

  • Liquid order books for outrights and rolls
  • The broadest offering: 156 MSCI futures and 26 MSCI options
  • Extended trading hours covering three time zones with full clearing and risk management capabilities
  • No position limits
  • No threshold limits on blocks
  • Portfolio-margining offsets available against major equity derivatives


Products

Volume Development


Clearing

Portfolio-based margining methodology (PRISMA) offers the highest levels of cross-margin offsets across equity derivatives

As Eurex is the #1 derivatives exchange in Europe, providing investors access to the broadest spectrum of equity index derivatives, our portfolio-based margining methodology (PRISMA) offers the highest cross-margin levels offsets across equity derivatives. To fully benefit from cross margining efficiencies, take a look at our Eurex Clearing Prisma brochure. For highly accurate what-if scenarios and incremental risk calculations, use our online margin calculators.


Key MSCI Asian underlying Products

Switch to the Global Home of MSCI Derivatives

With the SGX delisting of MSCI derivatives, Eurex sees an uptick in interest in its MSCI offering. Eurex has the most comprehensive suite of MSCI derivatives across all time zones, including alternatives directly available. Find out below which Eurex contracts are equivalent to the contracts to be delisted.

MSCI Videos

Contacts

Rachna Mathur
Head of Equity & Index | Equity & Index Sales America

1155 Avenue of the Americas | Floor 19
New York, NY 10036

T +1-212-309-93 08

rachna.mathur@eurex.com


Mezhgan Qabool
Eurex Frankfurt AG | Singapore Branch
Equity & Index Sales Asia

9 Raffles Place, #56–1 Republic Plaza
Singapore 048619

T +65-6597-3062

mezhgan.qabool@eurex.com


Taotao Xing
Equity & Index Sales EMEA

11 Westferry Circus, 2nd Floor, Canary Wharf
London E14 4HE

T +44 (0) 207 862- 7356

taotao.xing@eurex.com


Ralf Huesmann
Eurex Frankfurt AG
Equity & Index Product Design

Mergenthalerallee 61
65760 Eschborn

T +49-69-211-1 54 43

ralf.huesmann@eurex.com