LONDON, April 29, 2021 /PRNewswire/ -- Cboe Europe,
a pan-European exchange operator and a subsidiary of Cboe
Global Markets (Cboe: CBOE), announced it plans to launch Cboe
Europe Derivatives, a new Amsterdam-based futures and options market, on
Monday, 6 September 2021, subject to
regulatory approvals. Cboe has secured the support of a broad range
of participants, including banks, clearing firms, market-makers and
proprietary trading firms who are expected to help contribute to
the provision of liquidity and client order flow on Cboe Europe
Derivatives.
Participant bank and clearing firms currently include ABN AMRO
Clearing, Goldman Sachs and Morgan Stanley. Participant
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 utilized in
the U.S. to Europe and to grow the
region's equity derivatives market overall. EuroCCP, Cboe's
pan-European clearing operator, will provide clearing services for
the venue, subject to regulatory approval. By taking a pan-European
approach, Cboe Europe Derivatives will enable market participants
to access a vibrant derivatives market through a single access
point, creating efficiencies 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 anticipated launch of Cboe Europe
Derivatives. We have listened to the needs of market participants
and are designing this new market from a pan-European
point-of-view, leveraging our global derivatives expertise,
European equities trading footprint, ownership of EuroCCP and
world-class technology to build a more efficient equity derivatives
market."
Robbert Booij, CEO Europe at ABN AMRO
Clearing Bank N.V, said: "Cboe Europe Derivatives
represents an attractive new marketplace for European equity
derivatives. It is being created by a highly-respected exchange
operator and we look forward to having our clients benefit from
this new market."
Elizabeth Martin, Global Head of
Equities Electronic Trading at Goldman Sachs, said: "Partnering
with Cboe Europe Derivatives aligns with our support of innovative
electronic marketplaces 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 having more choice, while lower friction pricing
models also promote greater liquidity. Over the past 10 years,
European exchange traded derivative volumes have lagged global
markets, and we are supportive of this new initiative to bring
further competition and innovation to this space."
John Keogh, Managing Director at
Susquehanna International Securities, said: "We are committed to
working with exchanges to support product innovation and grow the
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,
liquid orderbook-focused exchange."
Cboe Europe Derivatives is expected to form part of Cboe NL,
Cboe's Netherlands-based exchange,
and initially offer trading in futures and options based on six
Cboe Europe Indices: the Cboe Eurozone 50, Cboe UK 100, Cboe
Netherlands 25, Cboe Switzerland 20, Cboe Germany 30, and Cboe
France 40 – all calculated using Cboe market data1.
Cboe Europe Derivatives plans to add futures and options on
additional European benchmarks, along with single stock options, at
a later date, based on customer demand.
Ade Cordell, President of Cboe NL, said: "We have had an
extremely positive response to our vision for Cboe Europe
Derivatives from participants across the trading community. Firms
not currently active in European markets are excited by the
prospect of a transparent, efficient, lit pan-European equity
derivatives market, which will help to unlock its true potential
and grow the market overall."
About Cboe Global Markets, Inc.
Cboe Global Markets (Cboe: CBOE) provides cutting-edge trading
and investment solutions to market participants around the world.
The company is committed to defining markets through product
innovation, leading edge technology and seamless trading
solutions.
The company offers trading across a diverse range of products in
multiple asset classes and geographies, including options, futures,
U.S., Canadian and European equities, exchange-traded products
(ETPs), global foreign exchange (FX) and volatility products based
on the Cboe Volatility Index (VIX Index), recognized as the world's
premier gauge of U.S. equity market volatility.
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 by value traded
in Europe, and owns EuroCCP, a
leading pan-European equity clearing house. Cboe also is a leading
market globally for ETP listings and
trading.
The company is headquartered in Chicago with a network of domestic and global
offices across the Americas, Europe and Asia, including main hubs in New York, London, Kansas
City and Amsterdam. For
more information, visit www.cboe.com.
Media
Contacts
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Analyst
Contact
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Tim
Cave
+44 (0)
7593-506-719
tcave@cboe.com
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Angela
Tu
+1-646-856-8734
atu@cboe.com
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Debbie
Koopman
+1-312-786-7136
koopman@cboe.com
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CBOE-C
CBOE-E
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Cboe® and Cboe Global Markets® are registered trademarks of
Cboe Exchange, Inc.
The content of this press release is for information purposes
only and does not constitute or form part of, and should not be
construed as, an offer to sell or the solicitation of an offer to
buy any security.
Cautionary Statements 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 any forward-looking statements, which speak
only as of the date made and are subject to a number of risks and
uncertainties.
1 With the exception of the Cboe Switzerland
20
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SOURCE Cboe Global Markets, Inc.