Eurex has welcomed Santander Asset Management as a global player in its listed FX segment.
Imanol Urquizu
The Spanish asset manager has begun to expand its FX futures business to Eurex, supported by Banco Santander as clearing member and Deutsche Bank as liquidity provider.
The move from Santander Asset Management emphasises the growing trend towards listed FX business, in which market participants are utilising listed FX derivatives to hedge their portfolio performance.
“By now trading and clearing listed FX derivatives on Eurex, Santander Asset Management benefits from low exchange fees and regulatory certainty within the EU,” said Jens Quiram, global head fixed income and currencies (FIC) derivatives and repo sales at Eurex.
In addition, Santander has stated plans to establish FX options business at Eurex. Backed by Deutsche Bank, the asset manager traded the first FX options block trade ever at Eurex.
“In addition to our engagement in FX futures we actively collaborate with multiple FX dealers to explore the trading of FX options at Eurex,” said Imanol Urquizu, head of derivatives at Santander Asset Management.
“Integrating FX futures and FX options within the Eurex ecosystem unlocks operational efficiencies and enhances our risk netting capabilities.”
Mario Muth, global head of platform and listed derivatives sales and head of fixed income market structure at Deutsche Bank, added: “Trading FX on Eurex enables clients to benefit from the efficiencies of a listed derivatives market, and this is a prime example of how Deutsche Bank partners with clients and trading venues to provide liquidity and solutions in the evolving FX market.”