Eurex releases report on October 2018 highlights
10 October 2018 London
Image: Shutterstock
Eurex saw an increase of roughly 5 percent across the board for October 2018, compared to the same period a year earlier in terms of fixed income, according to a Highlights report by Eurex.
In the report, Philip Simons, global head fixed income sales derivatives, funding and financing at Eurex Clearing, delivered a short summary of the exchange鈥檚 experiences during the third quarter of 2018.
Starting with fixed income listed business, he noted that. 鈥淲ith the Italian budget recently seen a significant increase in bond yields, roughly 32 basis points within one day and the spread to bunds widened significantly."
He added: 鈥淥verall, volumes in short-dated European government bonds have increased significantly year on year. In addition, European inflation came in quite high and this could add additional uncertainty to the fixed income markets.鈥�
He also indicated over-the-counter interest rate derivatives had experienced a record third quarter with over 鈧�4-1/4 trillion cleared notional.
He said that gives Eurex a market share roughly of 10 percent in terms of open interest.
Mentioning Brexit, Simons stated: 鈥淏rexit has become the foremost topic in most of our members鈥� minds as a hard Brexit looks increasingly more likely. As a result of that, we have seen a significant uptick in buy-side clients onboarding with us in what many call a 鈥榥o regret鈥� move where they are now starting to clear their euro business at Eurex.鈥�
He added: 鈥淥ur partnership programme continues to attract new members and we are very pleased to announce two new partners from the Nordic region, Danske Bank and Nordea.鈥�
鈥淲e are very pleased they have chosen to partner with Eurex Clearing and we look forward to working very closely with them on further developing our products and services in the Nordic region.鈥�
In the report, Philip Simons, global head fixed income sales derivatives, funding and financing at Eurex Clearing, delivered a short summary of the exchange鈥檚 experiences during the third quarter of 2018.
Starting with fixed income listed business, he noted that. 鈥淲ith the Italian budget recently seen a significant increase in bond yields, roughly 32 basis points within one day and the spread to bunds widened significantly."
He added: 鈥淥verall, volumes in short-dated European government bonds have increased significantly year on year. In addition, European inflation came in quite high and this could add additional uncertainty to the fixed income markets.鈥�
He also indicated over-the-counter interest rate derivatives had experienced a record third quarter with over 鈧�4-1/4 trillion cleared notional.
He said that gives Eurex a market share roughly of 10 percent in terms of open interest.
Mentioning Brexit, Simons stated: 鈥淏rexit has become the foremost topic in most of our members鈥� minds as a hard Brexit looks increasingly more likely. As a result of that, we have seen a significant uptick in buy-side clients onboarding with us in what many call a 鈥榥o regret鈥� move where they are now starting to clear their euro business at Eurex.鈥�
He added: 鈥淥ur partnership programme continues to attract new members and we are very pleased to announce two new partners from the Nordic region, Danske Bank and Nordea.鈥�
鈥淲e are very pleased they have chosen to partner with Eurex Clearing and we look forward to working very closely with them on further developing our products and services in the Nordic region.鈥�
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