Eurex extends electronic bond dealing system

Eurex extends electronic bond dealing system

German government bond trading platform Eurex Bonds is to begin offering products from international issuers as well as corporate bonds following the roll out of new clearing technology.

The exchange says it is able to expand the product range on its bond dealing system due to a new link, which has been in place since the end of October, between Eurex Clearing - the central counterparty for all transactions concluded on Eurex Bonds - and Clearstream Banking Luxembourg.

Eurex will initally add 43 new bonds to the platform - European Investment Bank bonds and European covered bonds from Spain, France, UK and Ireland - on 15 November. The exchange plans to admit selected corporate bonds before the end of the year.

The exchange says it may also add Austrian, Belgian, Dutch, and Spanish government bonds in Q1 2005, with more bonds issued by other European states to be included over the course of the year.

Eurex has also announced that open interest in US Treasury futures at its Chicago-based exchange surpassed 70,000 contracts for the first time. On November 10, open interest reached 70,096 contracts.

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