The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms and Conditions.


All material subject to strictly enforced copyright laws. © 2021 Euromoney, a part of the Euromoney Institutional Investor PLC.
Foreign Exchange

ETDs: Nybot launches euro index futures and options

Exchange looking to build on the success of its established dollar index.

The New York Board of Trade has introduced futures and options on the value of the euro against a basket of five major currencies. Nybot says the new Finex Euro Index (ECX) products are intended to complement its well-established US dollar index range.

The contracts are based on the geometric average value against the euro of the US dollar, British pound, Japanese yen, Swiss franc and Swedish krona. Both futures and options trade in Nybot’s currency pits in New York and Dublin.

Rationale

Explaining the rationale for the euro index products, Nybot’s chairman, Frederick Schoenhut, says: “The euro is the currency of the world’s second-largest economic entity and the marketplace needs a tradable index that accurately gauges its value. Our exchange has a history of innovation in currency products, and with the record year we just completed in our currency markets, the New York Board of Trade is the ideal place for the first euro index contracts to trade.”

Anthony Scamardella, Nybot “There’s a need to understand why individual currencies are moving. Trading an index removes some of the complexity”
Anthony Scamardella, Nybot

The new contracts will be supported by six market makers, including Deutsche Bank, plus locals trading in the pits.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree