- IMC joins Cboe Europe Derivatives as direct trading participant, gaining access to the exchange's suite of pan-European equity derivatives
- CEDX recently expanded its range of equity options and now offers contracts on over 300 European companies
Cboe Europe Derivatives (CEDX), Cboe's pan-European equity derivatives marketplace, today announces that IMC has become a new direct trading participant, gaining access to the exchange's range of pan-European index derivatives and equity options.
Iouri Saroukhanov, Head of European Derivatives at Cboe Europe, said: "We are thrilled to welcome IMC to CEDX and further diversify the types of liquidity the exchange is offering to its institutional and retail participants. The support of a firm of IMC's calibre demonstrates the broad appeal of CEDX, which is lowering barriers to entry for European derivatives through its pan-European model and promotion of deep and liquid on-screen markets. We look forward to IMC's active participation across our range of equity derivatives and supporting us on our journey to create a larger and more efficient European derivatives market."
IMC is a leading global market maker that trades in all major asset classes on more than 100 trading venues around the world. Founded in 1989, it was one of the first trading houses to recognise the importance of technology in the fast-evolving financial markets environment and today is known worldwide for its advanced, low-latency technology and world-class execution capabilities. With offices in Europe, the United States, and Asia-Pacific, its core business is to provide essential liquidity in financial instruments, helping to make markets more efficient and add value to all market participants.
Koen Langemeijer, IMC Europe Market Making Lead, said: "We are very excited to become a direct trading participant on CEDX and provide liquidity across the exchange's range of pan-European equity derivatives contracts. We are strongly aligned with CEDX's ambitions to enhance and grow Europe's derivatives markets and look forward to providing its participants with access to our exceptional levels of liquidity."
CEDX launched in September 2021, initially offering trading in futures and options based on key Cboe Europe single country and pan-European indices, with clearing provided by Cboe Clear Europe N.V. The exchange is designed to promote on-screen liquidity and offers a single access point to pan-European equity derivatives products, creating significant operational and capital efficiencies for participants.
CEDX expanded into equity options in November 2023, and broadened its universe of these products during Q1 2024. It now offers more than 300 options on companies from 14 countries (Austria, Belgium, Denmark, Finland, France, Germany, Ireland, Italy, the Netherlands, Norway, Spain, Sweden, Switzerland and the United Kingdom). These products amount to more than 90% of current ADV and open interest for the top-600 European equity options, as of June 2024.
Further information about CEDX's equity options products is available here.
