AMSTERDAM and LONDON, Feb. 14,
2023 /PRNewswire/ -- Cboe Global Markets Inc. (Cboe:
CBOE) today announces that Cboe Europe Derivatives (CEDX), its
pan-European equity derivatives exchange, is planning to expand its
product suite to include single stock options on leading European
companies. These products are expected to be available for trading
in November 2023 and cleared by Cboe
Clear Europe, the leading pan-European clearing house, subject to
the necessary regulatory approvals.
CEDX is initially planning to offer equity options on companies
from 10 European countries (Belgium, Denmark, Finland, France, Germany, Italy, the
Netherlands, Norway,
Spain and Sweden). Options on stocks from additional
European countries are expected to be introduced starting from
February 2024, subject to regulatory
approvals. CEDX's expansion into equity options will make it one of
Europe's most comprehensive equity
derivatives exchanges, providing exposure to pan-European equities
through single name and index derivatives via a single marketplace.
In addition to offering market participants significant operational
efficiencies through its pan-European approach, CEDX has also
brought to Europe a transparent,
on-screen market structure - similar to that utilised in the US -
to help attract new participants of all types and grow the region's
derivatives markets overall.
Iouri Saroukhanov, Head of European Derivatives, Cboe Europe,
said: "The addition of single stock options is a key component of
our ultimate vision for CEDX and we believe it will accelerate the
momentum behind our aim of creating the most complete pan-European
equity derivatives ecosystem. We have received strong interest from
participants in bringing these products to market, from both the
institutional and retail communities, who share Cboe's desire to
expand access to derivatives more widely. We believe the
combination of CEDX's equity derivatives marketplace and Cboe
Europe's highly successful stock exchange - which is the region's
largest by market share – creates a powerful and unique proposition
for participants wishing to gain exposure to pan-European equities
in a transparent and cost-effective way. As one of the leading US
equity options marketplaces, this move also demonstrates Cboe's
ambition to become the leading global securities and derivatives
trading network, by replicating its successful products and market
constructs in new regions."
Along with CEDX's existing index derivatives, these new products
are expected to clear into Cboe Clear Europe, a wholly-owned
subsidiary of Cboe and the region's largest cash equity clearing
house. This offers participants the ability to clear pan-European
cash equities and equity derivatives at a single clearing house –
allowing for greater operational efficiencies and the optimisation
of collateral held against equity derivatives through portfolio
margining, subject to regulatory approvals.
Arnoud Siegmann, Interim
President and Chief Operating Officer of Cboe Clear Europe, said:
"We are delighted to be supporting CEDX's continued expansion and
extending our capabilities to clear single stock options. CEDX is
already demonstrating its potential and Cboe Clear Europe is
excited by the opportunity to provide meaningful cost savings to
participants by offering the ability to clear pan-European cash
equities and equity derivatives at a single provider."
CEDX launched in September 2021,
initially offering trading in futures and options based on key Cboe
Europe single country and pan-European indices. These indices,
which are all calculated using Cboe market data, are transparently
designed and managed under the same set of rules and perform
closely in line with comparable benchmarks. The exchange has been
designed to promote deep and liquid on-screen markets and is
already bringing greater transparency and efficiencies to the
region's derivatives markets. In January
2023, CEDX traded 3,824 contracts, a record monthly
figure and beating the previous high of 3,647 contracts in
December 2022.
Additional information about CEDX's single stock products is
available here.
About Cboe Global Markets, Inc.
Cboe Global Markets (Cboe: CBOE), a leading provider of market
infrastructure and tradable products, delivers cutting-edge
trading, clearing and investment solutions to market participants
around the world. The company is committed to operating a trusted,
inclusive global marketplace, providing leading products,
technology and data solutions that enable participants to define a
sustainable financial future. Cboe provides trading solutions and
products in multiple asset classes, including equities,
derivatives, FX and digital assets, across North America, Europe and Asia
Pacific. To learn more, visit www.cboe.com.
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Tim
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Angela
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Kenneth Hill,
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SOURCE Cboe Global Markets, Inc.