As of at this time, 1 November, Eurex has relaunched its EURIBOR derivatives section.
That is accompanied by the beginning of its STIR Partnership and Liquidity Supplier Packages supported by main market individuals. The relaunch of Eurex’s EURIBOR Futures and Choices marks an necessary milestone in Eurex’s ambition to construct out the House of the Euro Yield Curve.
A brand new liquidity supplier program will foster on-screen liquidity in Three-Month EURIBOR Futures (Product ID: FEU3) and Three-Month Euro STR Futures (Product ID: FST3) in addition to in Choices on Three-Month EURIBOR Futures (OEU3) and One- to 4-Yr EURIBOR Mid-Curve Choices Contracts (OEM 1-4).
Additionally, Eurex affords a brief price waiver till 31 December 2024 on all principal transactions (P/M Account) in Eurex STIR futures and choices.
A complete of 19 partnering banks have dedicated to help Eurex’ relaunch of its EURIBOR section by registering for the brand new STIR Partnership Program. The ten most energetic program individuals are eligible for a big share within the economics of the STIR providing of Eurex Clearing on a everlasting foundation. As well as, these shoppers are included within the governance and committee construction of Eurex Clearing.
Moreover operational efficiencies, clients will in the end profit from Eurex’s portfolio-based Prisma margining methodology which is designed to optimize margin offsets between STIR and LTIR portfolios, in addition to throughout OTC rate of interest swaps and listed rate of interest merchandise.
So far, greater than 760,000 contracts have been traded in Three-Month Euro STR (€STR) Futures because the launch on 23 January 2023. The launch marked an necessary milestone in establishing €STR as the brand new benchmark risk-free charge, as these new cash market futures present a listed, centrally cleared, and cash-settled answer for buying and selling or hedging €STR and complement Eurex Clearing’s €STR In a single day Index Swap providing.