Santander Asset Management has expanded its FX futures business to Eurex, underlining the market trend towards listed FX derivatives.
Santander also plans to establish an FX options business at Eurex. Supported by Deutsche Bank, they traded the first FX options block trade ever at Eurex.
Jens Quiram, global head FIC Derivatives and Repo Sales at Eurex, says: “We are proud to welcome Santander Asset Management. This is a great addition on our way to becoming the leading FX liquidity hub in Europe. By now trading and clearing listed FX derivatives on Eurex, Santander Asset Management benefits from low exchange fees and regulatory certainty within the EU.”
Imanol Urquizu, head of Derivatives at Santander Asset Management, comments: “We look forward to working with Eurex to expand our listed FX business in Europe. In addition to our engagement in FX futures we actively collaborate with multiple FX dealers to explore the trading of FX options at Eurex. Integrating FX futures and FX options within the Eurex ecosystem unlocks operational efficiencies and enhances our risk netting capabilities.”
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