The international derivatives exchange Eurex has for the first time exceeded the 1 million mark in open interest on its dividend product suite. Dividend futures and options contracts outstanding as at 19 July stood at 1,010,417 which represent a nominal value in excess of 6.2 billion euro of the dividend payments of European blue-chip companies.

Dividend based derivatives are a relatively new asset class and Eurex was the first exchange globally to launch equity index dividends in summer 2008. Open interest of the dividend index derivatives stands above 636,000 contracts. Dividend contracts on single stocks were introduced in January 2010, they have already amassed 374,000 contracts in open interest in the first half year of trading.

Leipzig, Frankfurt/Main, 20 July 2010 – On Friday, 16 July 2010, the first trade in EUA Futures for the Third European Trading Period was concluded on the market for emission rights operated by European Energy Exchange AG (EEX) and Eurex.

The volume traded comprised 25,000 EUA for delivery in the year 2013 and the trades were concluded between RWE and CEZ. Since 30 June of this year it has been possible for the EEX and Eurex trading participants to trade EUA futures for delivery in the years 2013 and 2014 in addition to the existing contracts.

Positive Development on the Derivatives Market for EUA Futures
In June, the volume on the EEX Derivatives Market for CO2 emission allowances increased considerably as against the previous months. In total, 17,453,000 EUA were traded in June (June 2009 1.696.000 EUA) with derivatives trading on the secondary market accounting for 14,603,000 EUA. This positive trend has continued in July.

The measures taken by EEX and Eurex to strengthen emissions trading contribute to this positive development in trading turnover. For example, EEX has recently extended the trading hours for emission futures on the exchange and has lowered the transactions fees on the Derivatives Market for Emissions until the end of December.

EEX and Eurex offer their participants a platform for trading in EUA Futures, CER Futures and options on EUA Futures. Within the framework of this cooperation, which was launched in December 2007, Eurex participants can trade the CO2 derivatives products listed on EEX through their existing infrastructure and a simplified admission process.

Related links
EEX website

Eurex, Europe’s largest derivatives exchange, and the Korea Exchange (KRX), a leading Asian exchange, have received strong commitment and support from major market participants for the launch of their joint Eurex/KRX Link on 30 August. This Link comprises a cooperation to trade and clear options on Korea’s blue-chip index KOSPI 200 on Eurex during European and North American trading hours.

Currently, Eurex and KRX are jointly preparing the launch of daily futures on KOSPI 200 Options (the Eurex KOSPI Product) at Eurex and have been in an extensive member consultation process since the beginning of 2010. Fifteen KRX members have indicated that they will be ready to trade the Eurex KOSPI Product during the course of 2010, thereof eight from day one. On the Eurex side, another 16 members expressed interest to execute business for KRX members. Among the interested Eurex and KRX member firms are:

Daewoo Securities Co., Ltd.
Deutsche Bank AG
Deutsche Securities Korea Co.
Goldman Sachs International
Hana Daetoo Securites, Ltd.
Hyundai Securities Co., Ltd.
Interactive Brokers
Korea Investment & Securities Co., Ltd.
MF Global
Morgan Stanley
Newedge Financial Hong Kong Limited, Seoul Branch
Newedge Group
RBS Global Banking & Markets
Samsung Futures Inc.
Tong Yang Securities Inc.
ABN AMRO Clearing (formerly known as Fortis Clearing)

Additionally, IMC and Archelon have signaled their interest to actively quote as market makers from day one.

Through this cooperation, for the first time KOSPI 200 Options will be available after Korean trading hours worldwide. Both partners believe that the cooperation will increase the liquidity and efficiency of the Korean market. For Eurex customers, it will be an extension of the global Eurex product suite by offering access to the most liquid Asian index product.

About Eurex
The international derivatives exchange Eurex, jointly operated by Deutsche Börse AG and SIX Swiss Exchange, organizes markets globally. Eurex is home to the Euro zone interest rate and equity index benchmark derivatives. Eurex’s portfolio of markets includes International Securities Exchange, the world’s largest equity options exchange. The ECNs Eurex Repo and Eurex Bonds round out Eurex’s offering for repo and bond trading.

In addition, Eurex provides an automated and integrated clearing house, Eurex Clearing AG. Eurex’s global liquidity network comprises around 420 direct exchange members in 25 countries worldwide.

For more information about Eurex, visit www.eurexchange.com.


About Korea Exchange
Korea Exchange Inc. (KRX) is the main operator of cash and derivatives market in Korea and it is also responsible for clearing and settlement facilities in those respective markets. KRX provides its customers with a full access to both cash and derivatives markets, and clears and settles all transactions on its markets as a one-stop service. As a leading derivatives exchange in Asia, KRX offers diverse product group including individual equities, stock index, bond/interest rate, foreign currency and commodities. The KOSPI 200 Index is a market capitalization weighted index that consists of 200 blue-chip stocks listed on the KRX stock market. It represents the benchmark indicator of the Korean capital market.

The KOSPI 200 option is the most liquid exchange-traded derivatives product in the world in terms of trading volume. An average daily volume of 13.6 million contracts in Q1 2010 represents an increase of 25% over the same period in 2009.

Korea Exchange, KRX, KOSPI and KOSPI 200 are registered trademarks of Korea Exchange Inc. Further information about KRX and its products can be found at http://eng.krx.co.kr/.

Bombay Stock Exchange (BSE), the Indian securities market operator and Eurex, the international derivatives exchange, today announced that they will launch futures and options on the SENSEX, the blue-chip index of the BSE, on 4 October 2010 at Eurex. The SENSEX Index tracks the daily performance of 30 of the largest and most actively traded companies listed on the Bombay Stock Exchange. It is a value-weighted index that represents approximately half of the float-adjusted market capitalization of all stocks traded on BSE.

"We are committed to offering our members a diverse and truly global product offering across key geographies and asset classes. The SENSEX is the most widely recognized gauge for the Indian market and complements our suite of leading equity index derivatives", said Peter Reitz, member of the Eurex Executive Board. "By introducing futures and options on this prominent benchmark, we also will advance our efforts in the Asia-Pacific region by creating trading opportunities for customers seeking access to this fast-growing emerging economy."

Madhu Kannan, Managing Director and CEO of the BSE, commented, "We are very pleased to be working with Eurex to develop a broader international investor base focused on the SENSEX. The SENSEX will now be trading during a larger portion of the global trading day, which will increase its appeal and value. Moreover, we see the growth of overseas liquidity in the SENSEX as helping us to broaden and deepen the market for SENSEX products within India."

The new contracts will be denominated in US dollars and settled in cash. The futures will have maturity dates of the three nearest months, and the following March, June, September and December. Two market-making schemes will be in effect until the end of December 2011 – one to support liquidity during the overlap of Indian and European trading hours and one for European market hours. The expiration dates of the options will be in the three nearest calendar months, the next three quarters and two next semi-annual expiries.

About BSE
Bombay Stock Exchange is one of India’s leading exchange groups and has played a pre-eminent role in the development of the Indian capital market. BSE is a corporatised and demutualised entity, with a broad shareholder-base which includes two leading global exchanges, Deutsche Börse and Singapore Exchange as strategic partners. BSE provides an efficient and transparent market for trading in equity, debt instruments and derivatives. It also provides a host of other services to capital market participants including risk management, clearing, settlement, market data services and training. It has a global reach with customers around the world and a nation-wide presence.
BSE website (www.bseindia.com)

About Eurex
The international derivatives exchange Eurex, jointly operated by Deutsche Börse AG and SIX Swiss Exchange, organizes markets globally. Eurex is home to the Euro zone interest rate and equity index benchmark derivatives. Eurex’s portfolio of markets includes International Securities Exchange, the world’s largest equity options exchange. The ECNs Eurex Repo and Eurex Bonds round out Eurex’s offering for repo and bond trading. In addition, Eurex provides an automated and integrated clearing house, Eurex Clearing AG.
Eurex’s global liquidity network comprises around 410 direct exchange members in 25 countries worldwide.

At the international derivatives markets of Eurex, an average daily volume of 10.9 million contracts was traded in June (June 2009: 10.7 million). Thereof, 8.3 million contracts (June 2009: 6.7 million) were traded at Eurex; another 2.6 million contracts (June 2009: 3.9 million) were traded at the International Securities Exchange (ISE). The increase of Eurex turnover of 25 percent y-o-y is due to the increasing use of exchange-traded and centrally cleared derivatives in the current market environment, which was driven by high volatility and the dividend season. In total, 241.1 million contracts were traded on both exchanges compared with 232.5 million contracts in June 2009.

At Eurex, the equity index derivatives segment was the most successful segment, totaling 79.3 million contracts, compared with 71.1 million contracts in June 2009. Futures on the EURO STOXX 50 reached 41.1 million contracts (June 2009: 32.0 million); the options recorded another 24.2 million contracts (June 2009: 25.5 million). The DAX future reached a turnover of 4.0 million contracts while the DAX option achieved 6.3 million contracts.

In the Eurex segment of equity-based derivatives (equity options and single stock futures) 50.5 million contracts were traded (June 2009: 30.2 million). Thereof, equity options totaled at 24.7 million contracts (June 2009: 23.2 million). The dividend season led to a strong increase of incentivized block trades of single stock futures, which totaled 25.8 million contracts (June 2009: 7.1 million).

Eurex’s interest rate derivatives segment reached 52.9 million contracts, compared with 44.9 million in June 2009. Approximately 21.7 million contracts were traded in the Euro-Bund-Future, 13.7 million contracts in the Euro-Schatz Future, 12.5 million contracts in the Euro-Bobl-Future and almost 154.000 contracts in the Euro-BTP-Future.

Dividend derivatives traded more than 315,000 contracts, while the volatility derivatives recorded almost 74,000 contracts for both VSTOXX futures and options. Commodities derivatives totaled at 75,000 contracts.

Eurex Repo, which operates CHF- and EUR repo markets, grew by 10 percent and both repo markets hit a new overall record with an average outstanding volume of 228.4 billion euros (June 2009: 208.1 billion euros). The secured money market segment GC Pooling achieved the strongest growth with 29 percent and set a new monthly record with an average outstanding volume of 98.8 billion euros (June 2009: 76.9 billion euros). On 21 June, GC Pooling also achieved a record daily average outstanding volume of 108.5 billion euros.

The electronic trading platform Eurex Bonds, which rounds out Eurex’s fixed-income product range, saw a volume of 7.9 billion euros (single counting) in June. In May 2010, the figure was 8.76 billion euros, and in June 2009 volume was 12.1 billion euros.

Eurex Monthly Statistic June 2010

The international derivatives exchange Eurex plans to extend its offering of futures and options on European size indices provided by STOXX Ltd. Four futures and four options based on the EURO STOXX® and the three corresponding sub-indices EURO STOXX Large, Mid and Small will be tradable as from 28 July. The new derivatives will enhance the existing offering of four futures and four options based on the STOXX Europe 600 Index and the three sub-indices STOXX Europe Large 200, STOXX Europe Mid 200 and STOXX Europe Small 200.

"By extending our offering to include new euro-denominated index derivatives, we will create additional investment and hedging opportunities for clients who want to gain exposure without currency risks on the basis of compact underlyings," said Michael Peters, member of the Eurex Executive Board. "The new EURO STOXX index products will also complement our highly liquid future on the European blue-chip index EURO STOXX 50."

As is the case with existing Eurex index products, the new futures will be settled in cash. The expiration dates will also be in March, June, September and December. An incentive program for market makers will be in place for several months to support sufficient liquidity from the outset. The new futures will be tradable between 8 a.m. and 10 p.m., and the options between 9 a.m. and 5.30 p.m. CET.

Eurex has been offering derivatives on the four STOXX Europe 600 indices since 2005. In 2009, approximately 730,000 contracts based on these index derivatives were traded; open interest currently is at approximately 30,000 contracts. The STOXX Europe 600 Index contains 600 companies from 18 European countries. The 600 index constituents are split into three groups of 200 according to their market capitalization – representing the three sub-indices STOXX Europe Large 200, Mid 200 and Small 200.

As of 28 July, the contract size of the STOXX Europe 600 derivatives already listed will be adjusted to be consistent with the new products. Alongside the four listed futures and options, each bearing a contract value of EUR 200 per index point, additional futures and options with a value of EUR 50 per index point will be launched.

The international derivatives exchange Eurex has recently launched Eurex Innovate, its new ideas and discussion forum for customers and people interested in financial markets and derivatives. The aim of the online forum – https://innovate.eurexchange.com – is to initiate and promote a web-based network to exchange information about product innovations on Eurex and to discuss events of financial and derivatives markets.

"We want to the use the internet as a means of further increasing the exchange of information with our customers and people interested in our company. Eurex Innovate will allow us to involve these people more closely in the product development process," said Peter Reitz, member of the Eurex Executive Board. "The experience and ideas of our participants are key factors driving the expansion of our product and service range."

Eurex Innovate consists of two areas: the "Ideas Board" and the "Discussion Board". Via the Ideas Board, participants can simply submit suggestions, which are then evaluated by Eurex product specialists and further analyzed together with the contributors. The status of the idea can be traced online. The Discussion Board serves as a means of exchanging information about products, trading strategies and financial market trends. At present, the product-specific forums "Fixed Income", "Equities", "Equity Index Derivatives" and "Other Asset Classes" have been set up for this purpose. A simple and one-time registration process is all that is required to use Eurex Innovate.

The international derivatives exchange Eurex announced today that it will be introducing six additional commodity index futures on 28 June. The new futures are based on the Dow Jones UBS commodity index family's sub-indices: softs, grain, precious metal, ex-energy, petroleum and livestock. They complement the futures listed since March 2009 based on the Dow Jones UBS composite index and the three sub-indices agriculture, energy and metal. The entire range of sub-indices of the Dow Jones UBS family will be covered by futures as from the start of trading.

"We are expanding our commodity index derivatives in response to our customers' increased interest in exchange-traded index products in this asset class," said Peter Reitz, member of the Eurex Executive Board. "Institutional investors are investing more and more in commodities for better portfolio diversification. Our cash-settled index futures are a safe and easy instrument for such investments."

All new Eurex futures are based on the excess return version of the indices; they are denominated in US dollars and are settled in cash. They have quarterly expiration dates. Two market makers are responsible for liquidity in the order book and in OTC transactions.

Listed Eurex contracts are a good alternative to OTC swaps due to their low nominal value, high price transparency, easy settlement, and mitigation of counterparty risk. They enable better asset allocation within investment funds and cost-effective set-up of risk positions; they are also an efficient trading tool, for example, for long/short strategies.

Since the start of trading, more than 50,000 contracts have been traded in the four Dow Jones UBS index futures currently listed; open interest currently stands at just under 7,000 contracts.

Frankfurt/Main, Leipzig – As of 30 June, the European Energy Exchange (EEX) and the derivatives exchange Eurex will expand trading in EUA Futures with contracts which will reach maturity from the third commitment period of the European Emission Trading System (EU ETS).

The third commitment period of the EU ETS, which will begin on 1 January 2013, was specified as early as upon the adoption of the European Climate and Renewable Energies Package by the European Parliament in December 2008.

Subject to approval by the EEX Exchange Council, EUA Futures for delivery in 2013 and 2014 will be available in the trading system as of the end of June. In combination with the existing contracts the trading participants on EEX and Eurex will be able to trade EUA Futures for the respective next five years in the future.

The introduction of the new contracts will be accompanied by further improvements intended to bring emissions trading more in line with the market: on 2 June, the exchange trading hours for emission futures and options were extended by 1.5 hours. In order to increase the flexibility for the trading participants EEX has also extended the post-trading phases for the Spot and Derivatives Market Auction on the EUA Primary Market.

EEX and Eurex offer their participants a platform for trading in EUA Futures, CER Futures and options on EUA Futures. Within the framework of this cooperation, which was launched in December 2007, Eurex participants can trade the CO2 derivatives products listed on EEX through their existing infrastructure and a simplified admission process.

At the international derivatives markets of Eurex, an average daily volume of 16.2 million contracts was traded in May (May 2009: 11.8 million). Thereof, 12.2 million contracts (May 2009: 7.4 million) were traded at Eurex; another 4.0 million contracts (May 2009: 4.4 million) were traded at the International Securities Exchange (ISE). The strong increase of Eurex turnover of 65 percent y-o-y is due to the increasing use of exchange-traded and centrally cleared derivatives in the current market environment, which was driven by high volatility and uncertainty as well as the dividend season. In total, 335.7 million contracts were traded on both exchanges compared with 237 million contracts in May 2009, which is an increase of 42 percent. Eurex saw a new monthly turnover peak of 256.5 million contracts; the previous record was from September 2008 with 229 million contracts. On 6 May a new daily turnover record was achieved with 25 million contracts.

At Eurex, the equity index derivatives segment totaled 101.4 million contracts (May 2009: 56.2 million). The future on the Euro STOXX 50 was once again the most successful product with 47.7 million contracts; the Euro STOXX 50 option achieved another 38.0 million contracts. Both the DAX future and DAX option reached turnover with 4.9 million contracts and 8.2 million contracts. Dividend derivatives traded more than 543,000 contracts, while the volatility derivatives recorded almost 218,000 contracts for both VSTOXX futures and options.

The Eurex segment of equity-based derivatives (equity options and single stock futures) was the most successful segment with 101.9 million contracts (May 2009: 57.7 million), setting a new monthly record. Thereof, equity options totaled at 29.75 million contracts (May 2009: 26.5 million). The dividend season led to a strong increase of incentivized block trades of single stock futures, which totaled 72.15 million contracts (May 2009: 31.1 million) – a new monthly record.

Eurex’s interest rate derivatives segment grew by 52 percent y-o-y with 52.4 million contracts (May 2009: 34.4 million). Approximately 21.5 million contracts were traded in the Euro-Bund-Future, 13.3 million contracts in the Euro-Schatz Future, 12.0 million contracts in the Euro-Bobl-Future and almost 128.000 contracts in the Euro-BTP-Future.

Eurex Repo, which operates CHF- and EUR repo markets, recorded for both repo markets an average outstanding volume of 184.6 billion euros (May 2009: 198.7 billion euros). The secured money market segment GC Pooling set a new monthly record with an average outstanding volume of 95.1 billion euros (May 2009: 75.9 billion euros). Thus, the EUR repo market totaled at the new peak of 119.6 billion euros (May 2009: 105.5 billion euros).

The electronic trading platform Eurex Bonds, which rounds out Eurex’s fixed-income product range, saw a volume of 8.8 billion euros (single counting) in May, or a y-o-y rise of 41 percent. In May 2009, the figure was 6.2 billion euros, and in April 2010 volume was 11.6 billion euros.

Eurex Monthly Statistic May 2010