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Deutsche Börse and Eurex spell out ETF plans

EUROPE/US – Deutsche Börse and Eurex are to offer trading participants a market for trading in euro-denominated US equities as well as exchange-traded funds and stock options on the Xetra and Eurex trading platforms by September.

Clearstream will settle the trades through an existing link with US central securities depositary, Depository Trust and Clearing Corporation (DTCC).

The first building block of the venture will be established in September, with the introduction of trading in US equities, when the Dow Jones Industrial Average (DJIA) doubles its real-time calculation time to 13 hours by using Deutsche Börse’s Xetra trading system prices during European business hours and switching over to New York Stock Exchange prices for the official calculation at 9.30am US east coast time.

The global markets concept, Xetra US Stars segment, will contain all stocks in the DJIA, the S&P 100, Nasdaq 100 and Dow Jones Global Titans 50 indices, bringing the total to about 200 equities.

The Eurex derivatives market will initially list around ten options on highly liquid US stocks including Cisco, IBM, Intel and Microsoft.
Rudolf Ferscha, chief executive officer of Eurex and member of the executive board of Deutsche Börse, says: “ With the introduction of the US segment Eurex expands its rapidly growing equity options segment to cover the largest equities market in the world.”

According to the participants the next steps on their agenda are the creation of segments based on Dow Jones STOXX 50 and Dow Jones Euro STOXX 50 indexes, and one for the Asia-Australasia region.

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