Eurex Derivatives exchange is all set to launch its Cryptocurrency future contracts

According to an announcement published by a local news outlet, The block, on 21st February, Eurex is planning to introduce futures contracts in connection with various digital assets such as Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP). Eurex is a Germany based derivatives exchange and managed by the Deutsche Boerse,

Eurex is an international derivatives exchange formed in 1998 and controlled by one of the leading stock exchanges in the world, the Deutsche Boerse. Eurex Clearing manages a collateral pool of 49 billion euros ($55.5 billion) and clears trades valued at 12.46 trillion euro every month.

Those aware of the updates stated to the Block that Eurex is planning to introduce future contracts very soon. They have already organized and had meetings with different market-making companies to discuss the products and take them forward. Currently, they are working to introduce new futures contracts to market, following the same steps that CME, CBOE Global Markets, and other US exchanges have taken.

The plans to introduce digital currency futures have been there in the pipeline for Deutsche Boerse since December 2017 which was reported by CNBC back then. At that time, a spokesperson representing the exchange had stated that “we are thinking about futures, with which private investors and institutional investors can protect existing investments in Bitcoin or set for falling prices of the cyber currency.”

During last September, Deutsche Boerse had introduced a “DLT, Crypto Assets and New Market Structures” unit, that would work on exploring the disruptive ability which the technology may possess for the financial market infrastructure, and also the new products which the exchange could develop, thereby enhancing its current product offerings.

In the previous month, Deutsche Boerse had revealed that it was “making significant progress” on its blockchain-based securities lending platform which is scheduled to be launched in the first half of 2019.

As per a press release from Deutsche Boerse, six banks till date have assured that they would be joining the securities lending platform, and have commenced “their connectivity processes.”

Leave a Reply