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Eurex Exchange's Quarterly Equity Derivatives Highlights - Q4/2018

Date 17/01/2019

Equity options:

In June 2018, Eurex introduced Eurex EnLight, the Request for Quote ("RfQ") service for the Swiss equity & index options segment. More than 250 requests have since been sent with a conversion rate of 50 percent. Overall, 125 deals have been agreed upon.

Eurex continually seeks to expand and improve its Eurex EnLight offering by introducing services such as the working delta negotiation in the March 2019 release and soon the expansion of further product segments on Eurex EnLight will be communicated.

At beginning of 2018, Eurex implemented pro rata matching for the Dutch equity options, followed by the French and Belgian equity options on 17 December 2018. Pro rata will be implemented for the German equity options on 18 January 2019, followed by the Swiss and Austrian equity options on 8 February 2019. At the same time, premium based tick size thresholds will be introduced, allowing a higher tick size for large premium options. For the above-mentioned equity options, the tick size will increase to EUR/CHF 0.05 for contracts with a premium above a predefined threshold. For more information please see Eurex circular 092/18.

Eurex is increasingly becoming the market of choice for all European single equity options. This is represented by solid single equity option volume growth of 12 percent in 2018. Looking at the top ten equity option contracts in our product range, the largest increases in volume were achieved by AXA (5.6mn contracts, +70%) and E.ON (6.5mn contracts, +50%). Find out more.

Single Stock Futures:

More than 850 European Single Stock Futures (SSFs) are now available on Eurex and the segment showed some major volume increases in 2018. Spanish SSFs form a large part of the total volume. SSFs on Banco Santander (22.4 mn contracts), BBVA (11.4 mn contracts) and Telefonica (8.9 mn contracts) make up 25% of the volume. The largest volume increase however was generated by the Dutch SSF's, which saw their volume increasing by 162 percent. This was followed by the Spanish (+146%), French (+57%) and Swiss (+55%) segment. In addition to our regular cash-settled SSFs, Eurex currently lists 32 physically settled Spanish SSFs. Eurex is considering listing other physically settled products in 2019.

For a full list of Eurex Exchange's equity derivatives, please visit our website.