Eurex bonds and derivatives boost

Eurex bonds and derivatives boost

Frankfurt-based exchange Eurex has launched a new software version of its derivatives trading system. About 440 participants from 16 countries implemented the new release as the derivatives market reported in Frankfurt on Monday.

A major feature of the new release is the introduction of trading functionalities for derivatives trading on the European Energy Exchange (EEX). Further functional enhancements facilitate the entry and confirmation of OTC block trades. In addition, the Clearing GUI has been extended to include a printing and file-export functionality. This gives clearing members greater flexibility in the handling of various backend processes such as position administration, transaction control and data analysis, says Eurex.

In a seperate initiative, Eurex Clearing switched on a central counterparty system for cash trading in fixed-income securities over the Eurex-Bonds platform - a new dealing system launched in early October with five banks and the German Bundesbank.

With the introduction of a central counterparty, further participants will begin trading on Eurex-Bonds, among them BHF-Bank, Nord LB, Bayerische Hypo- und Vereinsbank, Bankgesellschaft Berlin and DG Bank. A total of nine participants are now trading over the system, which integrates cash and derivatives trading in German federal bonds and also offers a straight-through processing option. Eurex says it expects to have 20 participants trading over the system by the end of 2000.

Eurex Clearing has also firmed up plans to operate as a central counterparty for trading on Eurex-Repo, an automated repo trading system.

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