Cboe Europe, a pan-European exchange operator and a subsidiary of Cboe Global Markets, announced its 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.”
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 data.
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.