The Eurex derivatives market has upgraded its electronic bond service, offering more products and introducing trader access via the Internet.
A new straight Internet connection to the trading system offers participants a cost-effective alternative to access via dedicated lines, says Eurex Bonds.
A number of new products have been added to Eurex Bonds' portfolio including issues by the KfW (Kreditanstalt für Wiederaufbau), the European Investment Bank and individual German states as well as jumbo Pfandbrief issues. As with existing products, these new issues have market makers providing for liquidity and transactions are cleared and settled via Eurex Clearing - acting as the central counterparty.
New participants include The German Finance Agency, which is now fully connected technically and is currently in the system simulation phase. The Finance Agency has been the central service provider for the Federal Republic of Germany and the German federal government since last year in all matters related to debt management and administration. The Bundesbank has had active trading operations on Eurex Bonds since October 2000.
There are currently 23 banks from Europe connected to Eurex Bonds.