11.25.2021

Eurex Expands FX to Scandinavia Currencies

11.25.2021
Markit to Launch Cash FX Affirmation Service

Eurex has expanded its FX Futures coverage to the most heavily traded European currencies after GBP, CHF, and EUR. The derivatives trading arm of Eurex continues to develop into a liquidity hub covering major European currencies.

The exchange has started trading seven new FX Futures on Scandinavian currencies, including EUR/NOK, EUR/SEK, EUR/DKK, USD/NOK, USD/SEK, USD/DKK, NOK/SEK. A liquidity scheme caters for tight pricing and competitive liquidity.

Maximilian Dannheimer, Head of FX ETD Sales at Eurex: “Gaining exposure to Swedish, Danish and Norwegian currencies allows clients to hedge positions and seize unique trading opportunities. The launch of Scandinavian currency futures is a natural evolution to offer transparency and minimize risk by exchange-traded, centrally cleared derivatives in G10 currencies.”

Eurex FX Futures are comparable to OTC FX forwards but have significantly lower counterparty credit risk (CCR) as financial obligations are guaranteed by Eurex Clearing as central counterparty (CCP). For those traders who want to take their contracts to expiration, Eurex FX Futures are physically settled through CLS.

In total, Eurex offers now 19 currency pairs including seven pairs on Scandinavian currencies. All Eurex FX contracts are 100,000 units (except for NOK/SEK pair) of the base currency with a minimum price change at 1/10th of a pip. Eurex Listed FX service portfolio can be accessed through the standard T7 trading system or Deutsche Börse’s OTC FX platform 360T.

Source: Eurex

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