Eurex Exchange is one of the world's leading derivatives exchanges in Europe. It is jointly operated by German Derivative Exchange and six Swiss Exchanges.
It was formed on September 4, 1997. On December 20, 2007, It acquired International Securities Exchange, Inc. (ISE) by compensating USD 2.8 Billion in cash or USD 67.50 per share.
Eurex has an open and low cost electronic access system and provides an automated and integrated joint Clearing House. It operates from 700 locations in different parts of the world.
The listed futures covers international benchmark products like the most liquid fixed income markets in the world. They also trade options and over the counter products. For the first time options were introduced on the most liquid U.S. Single Stocks.
Eurex Exchange offers a full range of products which includes:
Its trading volume exceeds 1.5 billion contracts per year.
Eurex Bonds, an ECN (electronic communication network) for off exchange, wholesale trading in fixed income securities and treasury discount papers (Bubills). Through the basis trading Eurex Bonds offers a direct link between the cash market and the futures market, this enables electronic basis trading via a central order book.
Eurex Repo, which is a separate segment, is the electronic trading solution for repos (sale and repurchase agreements). This Eurex segment is one of the leading electronic repo market providers, and operates the Swiss Franc and Euro Repo Markets. Eurex Repo offers the entire value chain from trading through clearing and settlement.
Participation in the Eurex Bond and Eurex Repo Market is generally open to all banks and financial service providers. Participants must be subject in their country of domicile to a financial market supervisory authority.
For private investors, trading at Eurex Repo is not possible at present, as it is a mere interbank market.
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