Full Year And December 2020 Figures At Eurex

Partnership Program continues to facilitate growth in OTC Clearing
Traded ESG derivatives contracts up by over 80% in 2020

Eurex’s Partnership Program continued its success story in 2020. In the OTC Clearing segment, notional outstanding volumes grew by 29%, up from 12.9 trillion EUR in 2019 to 16.6 trillion and average daily cleared volumes grew by 16% overall – up from 103 billion EUR in 2019 to 122 billion EUR in 2020. Longer dated Interest Rate Swaps grew even more strongly with a 33% rise. These volumes were driven to a substantial degree by the Partnership Program which offers participants the chance to share in the economics of OTC IRD clearing and have a say in the governance of Eurex Clearing. Portfolio switch activity also increased significantly throughout the year, while Eurex contracts continue to show a similar spread with no material basis compared to LCH.

In the financial derivatives segment, a very strong Q1 was followed by more moderate trading activity across the rest of the year. Overall, 2020 saw a small reduction of 4% in the number of traded contracts compared to 2019. Eurex’s largest segment, European equity index derivatives, was the best performing with the number of traded contracts growing 10% from 953.0 million in 2019 to 1,050.7 million in 2020. EURO STOXX was the most active sector with 153.6 million traded contracts, up 8.4% from 141.7 million in 2019. And some of the strongest rises were seen in the number of traded ESG derivatives contracts – up 83% to 1.3 million traded contracts – and Equity Total Return Futures, with over 116,000 contracts changing hands in their first full year of trading.

Eurex Repo, a leading marketplace for secured funding and financing, saw overall term-adjusted volumes grow by 10% in 2020. Activity in GC Pooling increased significantly at the onset of the Covid-19 related market turbulence, demonstrating the importance of these markets for banks’ liquidity management in times of market stress. 2020 also saw the launch of the first Green Bond GC Basket – an initiative welcomed by both market participants and industry bodies, and a clear signal regarding the ongoing development of the ESG sector.

Business overview – full year 2020

	2020	2019	Change
Financial derivatives: Traded contracts Eurex Exchange
European equity index derivatives (million)	1,050.7	953.0	+10%
European interest rate derivatives (million)	528.5	560.8	-6%
European equity derivatives (million)	273.8	425.2	-36%
Total (million)¹	1,861.4	1,947.1	-4%
OTC Clearing²
Notional outstanding volumes (billion EUR)	16,580	12,886	+29%
Average daily cleared volumes (billion EUR)	122	103	+18%
Of which Interest Rate Swaps (billion EUR)	19	14	+33%
Compression volumes	10	7	+42%
Repo: Average term-adjusted volume on Eurex Repo
GC Pooling³ (billion EUR)	71.0	67.6	+5%
Repo Market (billion EUR)	88.4	77.4	+14%

¹ The total number of contracts traded includes other asset classes such as commodities.
² Notional cleared volumes including post trading events such as compression.
³ Includes all currencies.

Business overview – December 2020

	Dec 2020	Dec 2019	Change
Financial derivatives: Traded contracts Eurex Exchange
European equity index derivatives (million)	78.0	85.3	-9%
European interest rate derivatives (million)	46.6	42.8	+9%
European equity derivatives (million)	24.1	31.0	-22%
Total (million)¹	148.9	160.1	-7%
OTC Clearing²
Notional outstanding volumes (billion EUR)	16,580	12,886	+29%
Average daily cleared volumes (billion EUR)	76	58	+31%
Of which Interest Rate Swaps (billion EUR)	17	15	+15%
Compression volumes	34	26	+30%
Repo: Average term-adjusted volume on Eurex Repo
GC Pooling³ (billion EUR)	36.4	56.0	-35%
Repo Market (billion EUR)	55.6	77.3	-28%

¹ The total number of contracts traded includes other asset classes such as commodities.
² Notional cleared volumes including post trading events such as compression.
³ Includes all currencies.