Eurex reports solid trading volumes for 2021

Eurex, a global derivatives exchange, reported its operational metrics for December 2021, which were largely mixed on a yearly basis, but European interest rate derivatives were the standout performer.

During December 2021, Eurex disclosed that a total of 146.2 million contracts were traded across its financial derivatives, which include European equity index, interest rate, and equity derivatives. This figure was down by two percent over a yearly timeframe, compared to 148.9 million contracts reported back in December 2020.

Meanwhile, Eurex’s OTC clearing business saw mixed gains over the last year, with total volumes jumping 21 percent in December to EUR 20 trillion from 16.5 trillion EUR in the same month last year. In terms of its average daily cleared volumes, the ADV figure rose 3 percent year-on-year to EUR 78 billion in December from EUR 76 billion a year earlier.

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Taking a full year perspective, OTC Clearing at Eurex continued its strong showing in 2021 with overall notional outstanding volumes growing by over 20 percent. Over the same period, average daily cleared volumes grew by 9 percent from 122 billion to 133 billion.

Looking at specific products, the Overnight Index Swaps business grew by 169 percent in terms of notional outstanding – from EUR 721 billion to EUR 1,941 billion– and by 74 percent in terms of average daily cleared volumes – from 5 billion EUR to 8 billion EUR. Notional outstanding and average daily cleared volumes for Interest Rate Swaps grew by 36 percent and 20 percent year-on-year, respectively.

In terms of traded contracts, European interest rate derivatives were the standout performer, growing by 14 percent from 528.5 million in 2020 to 603.2 million in 2021.

Overall volumes across all products fell 8 percent, from 1,861.4 million traded contracts in 2020 to 1,703.3 million in 2021. 2020 was, of course, an exceptional year in terms of the unprecedented volatility seen at the start of the pandemic.

The Eurex FX offering of classic FX futures and options, in combination with the rolling spot futures, allows traders to manage their FX exposures with listed products.

The pan-European exchange has made efforts over the past year to expand its FX trading business, most recently signing major banks to support their FX futures, from clearing to trading.

Eurex’s currency trading desk currently offers various FX derivatives products, including FX futures available in 19 currency pairs, all with quotation and tick sizes in-line with existing OTC FX standards. A liquidity scheme caters for tight pricing and competitive liquidity, it says.