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Market on Close

Eurex Market-on-Close Futures

Eurex Market-on-Close Futures are designed to deliver multiple benefits to a market that has so far been dominated by OTC trading. Basis, or market-on-close (MOC), trading traditionally involves higher operational efforts and limited risk management opportunities, since the basis is usually agreed on in the inter-dealer-broker market prior to the close of the cash markets. The respective index future trades have to be entered into the Eurex® system after index close, harboring slippage costs among others. In most cases, a MOC transaction has to be split into several trades because the final price (agreed basis plus index close level) is more granular than the tick size of the index futures. That means that in order to enter them into TES Block Trade, MOC off-book transactions must be large enough in size to allow them to be split to achieve the desired final price. By providing an on-exchange solution, Eurex Exchange supports MOC trading by electronifying basis trading – in line with the regulatory agenda.

Eurex Market-on-Close Futures on EURO STOXX® 50 Index Futures: Introduction of a Designated Market-Making scheme

Introduction of Eurex Market-on-Close Futures (“Eurex MOC Futures”) on EURO STOXX 50® Index Futures

 
 

Based on Europe’s top 50

Our first contract in this segment covers one of the most liquid index futures worldwide: the EURO STOXX 50® Index Futures. Click here for volumes and more.

More efficiency and less risk

Eurex Market-on-Close Futures (Eurex MOC Futures) were developed to facilitate basis trading, where OTC trading becomes difficult.

Key benefits:

  • Cost-efficient: Eurex MOC Futures only need one execution to achieve the exact final futures price – that way slippage risk is eliminated.
  • Easy to trade: As an exchange-traded contract, Eurex MOC Futures offers traders the benefit of straight-through processing, thereby significantly reducing a trader’s front office workload.
  • Easy to access: Eurex MOC Futures can be traded at any size via the order book – the contract size can be adjusted in increments of one – or via TES Block Trade with a minimum size of 500 contracts.
  • Comes with risk management: After the transaction of the basis, Eurex MOC Futures will be immediately included in the risk management system.
  • Provides transparency: On-exchange trading offers immediate liquity and public price information.

Market Makers

CompanyMember IDContactPhone number 
Flow Traders  NEDAMInstitutional Trading 

+31-20-799-67 77

 
DRW Investments (UK) Ltd. LOTLO         Chadwick Miller +44-20-70 31-13 69 

 

Execution Broker

CompanyMember IDContactPhone number 
GFI Securities Ltd GFILOGrégory Dumousseau

+33-17-670-35 52

 

Vantage Capital

VCMLO

Vantage Execution

+44 203 107 5220

 

Factsheet: How does Eurex MOC Futures trading work?

Our factsheet provides you with all facts about the Eurex MOC Futures trading cycle as well as the contract’s specifications. Click here to find out more.

A listed solution for basis trading: Eurex Market-on-Close

Nicolas von Kageneck

Paris Representative Office | Eurex - Global Equity & Index Sales
Sales

17, Rue de Surène
75008 Paris

T +33-1-55 27-67 69
F +33-1-55 27-6750

Tobias Ehinger

Eurex Frankfurt AG | Equity and Index Product Research and Development

Mergenthalerallee 61
65760 Eschborn

T +49-69-211-1 23 13

 

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