Eurex In Asia
Eurex has been in Asia since 2005 when the Monetary Authority of Singapore first granted them “Market Operator” status in the island nation. This allowed Eurex products to be eligible for trading in Singapore. Building on this regulatory approval, in June of 2006 Eurex successfully launched its Access Point in Singapore and saw its first customer, Transmarket Group Pte Limited, connected to their hub August 4, 2006.
Furthemore, its International Securities Exchange arm signed a Memorandum of Agreement (MOA) with the Osaka Securities Exchange (OSE) back in February 2008. The nature of the agreement was to foster a cooperative relationship and form a joint venture to revitalize Japan’s moribund equity options market.
And at the end of 2008 Eurex and the Korea Exchange (KRX) forged an alliance in trading and clearing. Eurex will begin trading KOSPI options on its Eurex trading platform January 2010. Click Here for more product information.
More recently, the MSCI Japan future will begin trading on Eurex October 26, 2009 making it their first derivative based on an Asian equity index. The underlying is the MSCI Japan Index which comprises nearly 350 of the largest companies listed in Japan and represents about 85% of the market capitalization too. The product is highly correlated to the Tokyo Price Index (TOPIX) and will afford an opportunity to be exposed to Japan during European trading hours (07:50-22:00 CET). This product settles in US dollars and on the second Friday of the contract month following the Japanese futures products.
To support Eurex’s commitment to the region they have opened several representative offices. Most recently the Singapore office in July 2009 headed by Phil Joslin. Tokyo April 2009. Hong Kong February 2009 managed by Paul Lo. And even in Beijing which started its operation in December 2008.