July volumes grew at Eurex Exchange and ISE/ Eurex Exchange: KOSPI Product with new peak in volumes
In July 2011, the international derivatives exchanges of Eurex Group recorded an average daily volume of 10 million contracts (July 2010: 8.1 million) – an increase by 24 percent. Of those, 7.2 million were Eurex Exchange contracts (July 2010: 5.6 million), and 2.9 million contracts (July 2010: 2.5 million) were traded at the U.S.-based International Securities Exchange (ISE). In total, 151.9 million contracts were traded at Eurex Exchange (an increase of 23 percent) and 57.3 million at ISE (an increase of 8.3 percent).
At Eurex Exchange, the equity index derivatives segment grew by 28.5 percent and totaled 72.5 million contracts (July 2010: 56.4 million). The single largest contract was the future on the EURO STOXX 50 Index with 31.3 million contracts. The option on this blue chip index totaled 29.3 million contracts. Futures on the DAX index recorded 3.0 million contracts while the DAX options reached another 4.2 million contracts. The Eurex KOSPI Product achieved a new monthly record with more than 1.7 million contracts, an ADV of more than 81,000 contracts. On 12 July, a new daily peak was recorded with 170,456 contracts.
The equity derivatives (equity options and single stock futures) segment at Eurex Exchange reached 24 million contracts (July 2010: 30.1 million). Thereof, equity options totaled 18.8 million contracts and single stock futures equaled 5.1 million contracts. Equity derivatives volume y-o-y is influenced by the change of contract specifications: in Q1 2011, Eurex Exchange increased the contract size of most equity options and single stock futures to match international standards, with the effect of potentially lower turnover in these products. The adjusted figure of monthly volume in the equity derivatives segment in July would have been approximately 27 million contracts based on an extrapolation.
Eurex Exchange’s interest rate derivatives segment grew by 51 percent and totaled 54.8 million contracts (July 2010: 36.4 million). The Euro-Bund-Future reached 21.2 million contracts, the Euro-Bobl-Future 12.1 million contracts and the Euro-Schatz-Future 13.7 million contracts. The Euro-BTP-Future totaled 261,955 contracts and the Short Term Euro-BTP-Future 48,318 contracts.
The Eurex segment dividend-based derivatives recorded 329,679 contracts (a decrease of 12.5 percent year-on-year). Volatility derivatives totaled 203,108 contracts (an increase of 619.3 percent year-on-year).
Eurex Repo, which operates CHF, EUR repo and GC Pooling markets, achieved new records. All Eurex Repo markets grew by 25 percent in July 2011 and reached 301.3 billion euros average outstanding volume for the first time (July 2010: 240.9 billion euros). The EUR Repo Market recorded an average outstanding volume 134 billion euros in July, an increase of 17 percent y-o-y. The secured money market GC Pooling recorded an average outstanding volume of 105.4 billion euros, an increase of 14 percent y-o-y (July 2010: 92.3 billion euros). The CHF Repo market recorded the highest growth rate with 33 percent y-o-y, reaching 167.3 billion euros.
The electronic trading platform Eurex Bonds, which rounds out Eurex’s fixed-income product range, traded 9.1 billion euros (single counting) in July, compared to 6.8 billion euros in July 2010. In June 2011, volume was 8.5 billion euros.
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