European asset management firm Union Investment has started trading Eurex foreign exchange (forex) futures, the announced this Wednesday.
Union Investment has decided to adopt the FX futures after seeing an uptick in demand for the product, the statement said. As part of its forex offering, Eurex has monthly and quarterly forex futures as well as rolling spot futures in order to support both the buy and sell-side.
Initially, the asset manager will only trade the forex futures, however, in the future it plans to expand its offering to also include the rolling spot futures, as well as the 360T off-exchange liquidity pool.
The Eurex forex futures are available in 12 currency pairs – EURUSD, GBPUSD, AUDUSD, USDJPY, USDCHF, EURCHF, EURGBP, GBPCHF, EURJPY, AUDJPY, EURAUD and NZDUSD
Source: Worldwide Business Research
“We have started with the Eurex monthly and quarterly expiries, and intend going forward to make use of the Rolling Spot Futures too, as well as the 360T off-exchange liquidity pool when we need bilateral pricing in size.”
More market participants take on Eurex FX Futures
Today’s announcement comes just days after Societe Generale revealed that it had expanded its FX offering to support trading and clearing of Eurex FX futures for its clients.
As , the move was designed to help drive and foster the French bank’s global forex business, part of a broader shift by the lender in the FX space.
Source: 360T
“… With key FX market participants on both maker and taker sides finalising their access to Eurex FX Futures, we look forward to further deliver on our ethos of giving clients the right choice of product, execution model, and clearing and settlement model to get their best FX trading outcome.”
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