The international derivatives exchange Eurex is to launch a two-year program on 1 August with which it aims to gain new traders. Under the name “Trader Development Program for New Markets”, the distribution network is to be extended to selected countries in Europe, Central and South America, Asia and Africa from which direct Eurex membership is not currently possible due to regulatory reasons. In Europe, the countries involved are Croatia, Russia, Serbia and Turkey; in Central and South America - Argentina, Brazil, Chile, Colombia, Mexico, Peru and Venezuela. In Asia, the program will cover China, India, Malaysia and New Zealand, and South Africa from the African continent.
The initiative is aimed at new proprietary traders in these countries. They will get access to the Eurex network via the order routing function from companies already been admitted by Eurex. The new proprietary trading companies interested in this program have the option of trading two million Eurex contracts per year and location without fees for a period of two years. If the trading volume exceeds the limit of two million contracts in the first year, participants will benefit from a fee exemption for 3 million contracts in the second year.
“Eurex specifically developed this program with market participants in order to promote the training of Eurex traders in new markets as well as to tap additional market potential,” said Michael Peters, the responsible Eurex Executive Board member. “At the same time we are raising our profile in areas with significant growth potential, while offering an attractive framework to generate additional liquidity.”