Eurex Bonds, the electronic trading platform operated jointly by Eurex, the international derivatives exchange, and a number of bond-trading firms, says two more firms have joined the platform.
Deka Bank Deutsche Girozentrale has been active as a new trading participant on Eurex Bonds, while Carr Futures SNC has joined as a clearing member.
A total of 23 participants are now active on Eurex Bonds, including the German Finance Agency and the German Bundesbank, which make use of this platform exclusively. Further banks have submitted letters of intent for connection to the platform and are now in the simulation phase.
Eurex says trading activity by market participants increased by more than 100 percent in March 2003 compared with the year before, and was 12 percent higher than in February 2003. Eurex Bonds turned over 16.75 billion euros (single counting) in March, as compared with 14.87 billion and 8.06 billion euros, respectively, in February 2003 and March 2002. The volume traded in March 2003 corresponds to a daily average of 800 million euros.
Eurex Bonds offers trading and clearing of German government bonds as well as in issues of the KfW (Kreditanstalt fr Wiederaufbau), the European Investment Bank, individual German states and Jumbo Pfandbriefe. With its basis-trading facility, Eurex Bonds also aims to provide an attractive product combination of bonds and futures contracts traded at Eurex