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Alternative Market Briefing

EUREX to release world's first futures-based tradable hedge fund index

Monday, July 31, 2017

Komfie Manalo, Opalesque Asia:

The "futurization" of OTC products by bringing them on-exchange has been a big driver for the expansion of Eurex's equity index portfolio over the last three years, said Markus-Alexander Flesch, head of global sales Eurex equity and index products. Flesch explained that Eurex had started this "OTC Metamorphosis" already in 2008 with the launch of its successful EuroSTOXX Dividend Future (FEXD) and that the exchange is preparing the launch of the world's first futures-based tradable hedge fund index.

Flesch told participants of the latest Opalesque 2017 UK Roundtable, "The success of the EuroSTOXX saw many other products following the strategy, which was initiated and supported by asset managers and many hedge funds."

He added that even CTAs have been early adopters of that Dividend Future product and helped making it a great success. The exchange then launched a series of further products, such as the Variance Future EVAR up to its most recent "futurized" product, the EuroStoxxTotal Return Index Future (TESX), which has been established and successfully launched back in December 2016.

"With partners like BNP, we were able to exceed on open interest by now of approx. EUR 3.5bn, which I feel is only a start and with the engagement of more asset managers there is much more in this product segment to capture relieving banks from their capital constraints,......................

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