Eurex US will extend its trading day by two hours, from 21 hours to 23 hours, from 3 April 2005. Trading will begin at 5:00 p.m. Chicago time instead of 7:00 p.m., and the trading day will continue to end at 4:00 p.m. Chicago time on the next calendar day.
The extended trading hours will apply to all products at Eurex US. Eurex US currently lists futures and options on 2-, 3-, 5- and 10-year U.S. Treasury notes, 30-year U.S. Treasury bonds and will introduce its first U.S. equity index futures on the Russell 1000R and Russell 2000R indexes on 4 February 2005.
By opening a full two hours earlier, Eurex US expects to create more trading opportunities for market participants and improve their ability to manage their risk. Furthermore, says Eurex, the modification to trading hours makes Eurex US the only exchange to offer trading in futures on U.S. Treasury products during the full Asia-Pacific morning.
“Global financial firms are structured for around the clock trading and with this change, Eurex US will meet their needs by offering trading during the core business hours of all time zones,” says Satish Nandapurkar, CEO of Eurex US. “This extension reinforces Eurex US’ position as a truly global marketplace for trading derivatives.”
With the introduction of the Global Clearing Link, Eurex US will expand its product offering to include futures and options on Euro-denominated interest rate and index products. These products will include benchmark European products such as the fixed income product suite Bund, Bobl and Schatz as well as products on the leading European indices DAX and DJ Euro STOXX 50.