Cboe Europe Derivatives secures support from key participants for September 2021 launch
LONDON, April 29, 2021 / PRNewswire / – Cboe Europe, a pan-European exchange operator and subsidiary of Cboe Global Markets (Cboe: CBOE), has announced its intention to launch Cboe Europe Derivatives, a new Amsterdamfutures and options market, Monday, September 6, 2021, subject to regulatory approvals. Cboe has secured the support of a wide range of participants, including banks, clearing houses, market makers and proprietary trading firms, who are expected to help provide liquidity and order flow. of clients on Cboe Europe Derivatives.
Participating banks and clearinghouses currently include ABN AMRO Clearing, Goldman Sachs and Morgan Stanley. Participating market makers and proprietary trading firms currently include All Options, Da Vinci Derivatives, DRW, Flow Traders, Liquid Capital Markets and Susquehanna International Securities.
Cboe Europe Derivatives plans to leverage Cboe’s global derivatives expertise and European equity trading and clearing footprint to bring a modern on-screen market structure used in the United States to Europe and develop the equity derivatives market for the region as a whole. EuroCCP, Cboe’s pan-European clearing operator, will provide clearing services for the site, subject to regulatory approval. By adopting a pan-European approach, Cboe Europe Derivatives will enable market players to access a dynamic derivatives market through a single point of access, thereby creating efficiency gains in trading and clearing.
David Howson, EVP, President of Europe and Asia Pacific for Cboe Global Markets, said: “We are delighted to bring together such a strong group of participants to support the planned launch of Cboe Europe Derivatives. We have listened to the needs of market participants and are designing this new market from a country pan-European perspective, leveraging our global derivatives expertise, European equity trading footprint, EuroCCP ownership and world-class technology to create a more efficient equity derivatives market.
Robbert Booij, CEO Europe at ABN AMRO compensation Bank NV, said: “Cboe Europe Derivatives represents an attractive new marketplace for European Equity Derivatives. It is created by a well respected trader and we look forward to bringing this new market to our clients.”
Elizabeth martin, Global Head of Equities Electronic Trading at Goldman Sachs, said: “The partnership with Cboe Europe Derivatives aligns with our support for innovative electronic markets and offers another opportunity to provide additional market access and liquidity to our clients. “
David Russell, Global Co-Head of Institutional Equities at Morgan Stanley, said: “By increasing competition in the European equity derivatives market, our clients benefit from greater choice, while low friction pricing models promote Also greater liquidity Over the past 10 years, volumes of derivatives traded on exchanges have lagged in global markets, and we support this new initiative to increase competition and innovation in this space.
John keogh, Managing Director of Susquehanna International Securities, said: “We are committed to working with exchanges to support product innovation and develop listed options markets in Europe. We are excited to become a liquidity provider on Cboe Europe Derivatives as we are aligned with its goal of developing a strong and liquid exchange focused on order books. “
Cboe Europe Derivatives should be part of Cboe NL, Cboe’s Netherlands-based on the exchange, and initially offers trading of futures and options based on six Cboe Europe indices: Cboe Eurozone 50, Cboe UK 100, Cboe Netherlands 25, Cboe Switzerland 20, Cboe Germany 30 and Cboe France 40 – all calculated using the Cboe market Data1.
Cboe Europe Derivatives plans to add futures and options on additional European benchmarks, as well as single stock options, at a later date, based on client demand.
Ade Cordell, President of Cboe NL, said: “We have had an overwhelmingly positive response to our view of Cboe Europe derivatives from participants in the trading community. Companies that are not currently active in European markets are excited about the prospect of a transparent and efficient solution. Pan-European equity derivatives market informed, which will help unlock its true potential and grow the market as a whole. “
About Cboe Global Markets, Inc.
Cboe Global Markets (Cboe: CBOE) provides cutting-edge trading and investing solutions to market players around the world. The company is committed to defining markets through product innovation, advanced technology and transparent business solutions.
The company trades a diverse range of products across multiple asset classes and geographies, including options, futures, US, Canadian and European equities, exchange traded products (ETPs), currencies global (FX) and volatility products based on the Cboe. Volatility index (VIX index), recognized as the world’s leading indicator of volatility in US stock markets.
Cboe’s subsidiaries include the largest options exchange and the third largest stock exchange operator in the U.S. In addition, the company operates one of the largest stock exchanges traded in Europe, and owns EuroCCP, a leading pan-European equity clearinghouse. Cboe is also a leading global market for ETP quotes and trading.
The company is based in Chicago with a network of national and global offices across the Americas, Europe and Asia, including the main hubs of new York, London, Kansas City and Amsterdam. For more information visit www.cboe.com.
Cboe® and Cboe Global Markets® are registered trademarks of Cboe Exchange, Inc.
The contents of this press release are for informational purposes only and do not constitute or form part of, and should not be construed as, an offer to sell or the solicitation of an offer to buy securities.
Cautions Regarding Forward-Looking Information
Certain information contained in this press release may constitute forward-looking statements. We caution readers not to place undue reliance on forward-looking statements, which speak only as of the date of writing and are subject to a number of risks and uncertainties.
1 With the exception of Cboe Suisse 20
SOURCE Cboe Global Markets, Inc.