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Eurex sees record volumes in euro clearing in January

Release date: 08 Feb 2022 | Eurex

Eurex sees record volumes in euro clearing in January

- Average daily cleared volumes in OTC swaps more than doubled to EUR 40 billion y-o-y
- Eurex overall traded contracts in January +3 percent y-o-y

OTC Clearing at Eurex continued its positive trend in January. Average daily cleared volumes in OTC interest rate derivatives grew to a record level of EUR 276 billion, which translates to a total of EUR 5.8 trillion. Overall notional outstanding grew to a record volume of EUR 24.560 billion at the end of January, despite several compression runs during the last months. Market share in notional outstanding stood at 22 percent in January.

Looking at specific products, Interest Rate Swaps and Overnight Index Swaps business together more than doubled in terms of average daily cleared volumes – from EUR 19.0 billion to EUR 40.3 billion – and by almost 50 percent in terms of notional outstanding – from EUR 9.1 trillion to EUR 13.4 trillion. 

Also, in its listed business Eurex saw a good start into the new year. In terms of traded contracts, equity index derivatives stood out in particular, growing by 6 percent year-on-year to 65.7 million in January. Interest rate derivatives contracts traded also grew – by 4 percent to 45.2 million year-on-year. Equity derivatives showed negative growth of 7 percent, falling year-on-year to 22.3 million traded contracts in January. Overall volumes across all products increased 3 percent, from 129.5 million traded contracts in January 2021 to 133.4 million in 2022. 

At Eurex Repo, the leading electronic marketplace for secured funding and financing, overall average monthly term-adjusted volumes increased by 62 percent year-on-year from EUR 123.8 billion to 200.6 billion. This growth was driven in particular by the Repo Market, where volumes more than doubled (+119 percent) compared to the previous year, from EUR 61.1 billion to EUR 133.7 billion.

Business overview – January 2022

January 2022

January 2021

Change

Financial derivatives: Traded contracts Eurex Exchange

Equity index derivatives (million)

65.7

61.8

+6%

Interest rate derivatives (million)

45.2

43.6

+4%

Equity derivatives (million)

22.3

23.9

-7%

Total (million)1

133.4

129.5

+3%

OTC Clearing2

   

Notional outstanding volumes (billion EUR)

24,560

20,390

+20%

- Of which Interest Rate Swaps (billion EUR)

11,482

8,368

+37%

- Of which Overnight Index Swaps (billion EUR)

1,934

724

+167%

Average daily cleared volumes (billion EUR)

276

249

+11%

- Of which Interest Rate Swaps (billion EUR)

28

14

+98%

- Of which Overnight Index Swaps (billion EUR)

12

5

+151%

Compression volumes

0

0

n/a

Repo: Average monthly term-adjusted volume on Eurex Repo

   

GC Pooling3 (billion EUR)

66.9

62.7

+7%

Repo Market (billion EUR)

133.7

61.1

+119%

Total (billion EUR)

200.6

123.8

+62%

1 The total number of contracts traded includes other asset classes such as commodities.
2 Notional cleared volumes including post trading events such as compression.
3 Includes all currencies.