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Equity Index Highlights - June 2017 edition

Release date: 09 Jun 2017 | Eurex Exchange

Equity Index Highlights - June 2017 edition

June edition

Following a significant volume drop last year caused by legal uncertainty, the "New Rules for Equity Trading over Dividend Record Date", helped Single Stock Futures to rally in the last few months and reach 2015 levels with an open interest of 10 million contracts.

Although the absolute April and May figures in the EURO STOXX 50® Index Options remained below the strong March figures, the overall open interest peaked at 40 million, it is the highest level since May 2012 - reflecting the overall anxiety to the possibility of an adverse French election result.

With an average daily volume of more than 110,000 Futures and Options, the VSTOXX® continues to strengthen its position as the benchmark for European volatility. Launched in February, the CFTC certified Options on VSTOXX® Futures (OVS2) hit a new record of 46,000 contracts in open interest. The successful launch of a VSTOXX® ETN by VelocityShares in the US market should drive further volumes.

On Wednesday, 3 May, Eurex successfully introduced six futures on the iSTOXX® Europe Factor Indexes, innovative derivatives target to collect premium from six risk factors (Value, Carry, Momentum, Size, Low Risk and Quality) and benchmarked against the liquid STOXX® Europe 600 Index. Since launch, they had over 5,000 contracts traded and open interest stands at 4,011 contracts.

Finally, our MSCI Derivatives segment now expanded to more than 100 MSCI Futures & Options. New Futures such as the MSCI Taiwan and MSCI Singapore, as well as Options on MSCI Japan and MSCI China Free provide investors with further instruments for targeted exposure to key Asian markets.  

Markus-Alexander Flesch
Global Head Sales Equity & Index Derivatives, Eurex

Facts and figures

Product news

On Monday, 29 May 2017, Eurex launched ten new MSCI Futures and two new MSCI Options. With the recent addition of four MSCI Futures, Eurex builds up a comprehensive offering across Asia's Emerging Markets (EM) and Developed Markets (DM) with a focus on entire regions and single countries. New futures such as the MSCI Taiwan and MSCI Singapore, and options on MSCI Japan & MSCI China Free provide investors targeted exposure to key Asian markets.

Uncertainty and geopolitical risks have escalated to unprecedented levels across Europe and the USA during the past year. Compounded with currency risk exposures between the Euro and US Dollar, it is clear that effective risk management for investors and financial institutions will be a vital component of their strategies during 2017 and in subsequent years. Eurex introduced Quanto Futures (FESQ) in March 2016, in order for clients to gain exposure to European assets, whilst mitigating the incorporated risk of EUR vs USD volatile currency fluctuations. Read more about how and why Quanto Futures can be embedded in trading strategies.

Futurization enables firms to take advantage of swaps without the heavy capital and margin requirements of an OTC trade. In a Q&A with DerivSource, Nicolas von Kageneck, Senior Vice President, Equity & Index Sales, and Stuart Heath, Director, Equity & Index R&D, both at Eurex, spoke about the newly designed Total Return Futures.

The impending MiFID II legislation will bring about a heightened regulatory regime with an emphasis on transparency and best execution. Stricter rules on transaction reporting, research and trading, it also focuses on voice brokering. The future of voice brokering will be marked by stricter rules over voice recording and the need to adopt electronic brokering methods. Read the full article by Randolf Roth, member of the Eurex Executive Board, on how MiFID II will be presenting challenges around compliance as well as opportunities.


The market is warming to futurized swaps, which deliver margin efficiency, and new trading opportunities for the derivatives market. One such new product taking the market by storm is the Total Return Futures. Join us for an educational webinar on 20 June, where a panel will explain how this newly designed futures differs from Total Return Swap, how it operates and is being incorporated into trading strategies among both buy and sell side market participants.

Thursday, 22 June 2017: "New Asset Class Summit" conference in Paris

Hosted in collaboration with L'AGEFI, BNP Paribas and Société Générale, this buy side focused conference will gather buy and sell side experts to talk about product innovation in today's market.

Our speakers and panellists will review the latest trends in investment strategies, discuss whether the implied equity repo rate may emerge as new asset classes or whether factor investing is the new Eldorado for institutional investors. Join this interactive event that will be held partially in French and English.

Eurex will be present at numerous events and trade fairs during the year. Please visit our website for an overview of upcoming conferences.

To learn more about our products and services, please do not hesitate to contact your local Sales representative, visit our website or follow us on Twitter @eurexgroup and LinkedIn.


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