Power trading at EEX and OTC clearing at Eurex start the year on a positive note

Datum: 05. Feb 2020 | Eurex

Power trading at EEX and OTC clearing at Eurex start the year on a positive note

Both electric and gas trading at the European Energy Exchange showed very solid year-on-year growth in January / OTC clearing volumes at Eurex continue to grow strongly

European equity index derivatives, OTC clearing volumes, and power trading volumes at EEX all reported very positive figures for the first month of 2020. And Eurex Repo’s GC Pooling volumes once again posted strong double-digit percentage growth in January.

The number of traded derivates contracts at Eurex Exchange showed a mixed picture, yet European equity index derivatives were up 10 percent in January 2020 compared to the same month in 2019. Strong growth was also shown in volatility index options and futures – up 47 percent and 33 percent, respectively – while the number of traded ETF derivative contracts jumped over five-fold – 548 percent growth – between January 2019 and January 2020.

In the OTC clearing space, volumes have continued to rise. Notional outstanding volumes climbed by 65 percent to 17,043 billion EUR in January 2020, while average daily cleared volumes showed even greater growth of 69 percent over the same period. And this comes after January 2019 was itself a record month. These figures put Eurex Clearing on a 21 percent market share of OTC interest rate derivatives (IRD) average daily cleared volumes and an 18 percent share in terms of OTC IRD notional outstanding. Furthermore, looking just at long-dated interest rate swaps, market share jumped to 4.7 percent in January 2020 from 2.6 percent the previous year, with average daily volumes currently at 19 billion EUR. 

At Eurex Repo, the electronic market for secured funding and financing, GC Pooling volumes showed year-on-year growth of over 50 percent in January. This follows on from year-on-year rises of 45, 42, and 38 percent in the final three months of 2019.

The European Energy Exchange – known as EEX – in Leipzig continued its impressive 2019 performance by posting double-digit growth in both traded electricity and gas volumes, up 25 and 42 percent, respectively. 

Business overview

 Jan 20Jan 19Change
Financial derivatives: Traded contracts Eurex Exchange   
European equity index derivatives (million)78.371.2+10%
European interest rate derivatives (million)41.441.0+1%
European equity derivatives (million)25.535.2-28%
Total (million)1)145.5147.8-2%
OTC Clearing2)   
Notional outstanding volumes (billion EUR)17,04312,886+65%
Average daily cleared volumes (billion EUR)240142+69%
Commodities: Trading volumes EEX   
Electricity (terawatt hours)611.4489.0+25%
Gas (terawatt hours)252.5178.0+42%
Emissions trading (million tons of CO2)79.492.1-14%
Repo business: Average monthly outstanding volume on Eurex Repo   
GC Pooling3) (billion Euro)54.436.2+50%
Repo Market (billion Euro)49.671.3-30%

1 The total number of contracts traded includes other asset classes such as commodities.
2 Notional cleared volumes including post trading events such as compression.
3 Includes all currencies.