Eurex Launches Trading In STOXX Futures In The U.S. - CFTC Issues No-action Letter - Eurex Spectrum Expanded In U.S.

Effective immediately, Eurex, the European derivatives exchange, will also offer futures on the Dow Jones STOXX 50 and Dow Jones EURO STOXX 50 indices in the United States. The American supervisory authority, the Commodity Futures Trading Commission (CFTC), gave Eurex the corresponding approval as of 06 April. This means that all U.S. Eurex participants can now trade these contracts directly from the U.S. and thus have access to the highest-volume and most liquid market for European stock index derivatives. Eurex currently has 44 members in the US with at total of 423 members in 18 countries worldwide.

Eurex is the dominating market for trading in derivatives on the European STOXX equity indices. At present, Eurex has a market share of about 90 percent in futures on the Dow Jones EURO STOXX index and in futures on the Dow Jones STOXX index, respectively. In options on the STOXX 50 indices, its market share is almost 100 percent.

Eurex CEO Jörg Franke said: "The U.S. market is an important part of our internationalization strategy. The U.S. supervisory authorities' decision enables us to extend the product range for our U.S. participants. At the same time, liquidity increases further and we secure our benchmark position in the European index products."

The spectrum of Eurex products admitted in the U.S. now comprises one-month and three-month Euribor futures as well as options on three-month Euribor futures, the interest-rate derivatives Euro-Schatz, Euro-Bobl and Euro-Bund futures including the options on these futures and Euro-BUXL futures, as well as DAX futures and now the futures on the Dow Jones STOXX 50 and Dow Jones EURO STOXX 50 indices. Eurex has indicated that there are plans to expand the selection of products offered in the U.S. with an additional index product, pending approval from the U.S. authorities for the futures on the SMI.