The move is set to give customers access to a large and standardised offering of commodity derivatives contracts via one platform.
Agricultural derivatives currently tradable on Eurex Exchange will be offered on EEX from 2015. Eurex Exchange’s product portfolio comprises futures on potatoes, skimmed milk powder, whey powder, butter, hogs and piglets. All contracts are quoted in Euro and are settled in cash. Market indices which reflect the underlying physical transactions are used as reference prices.
“EEX has comprehensive expertise in trading in energy and commodity derivatives”, says Andreas Preuss, chief executive officer of Eurex. “The transfer of the Eurex agricultural derivatives segment to our subsidiary EEX is an important step towards establishing EEX as the commodity exchange within Eurex Group.”
“With the introduction of agricultural products, we continue our strategy of expanding our offering to further asset classes”, adds Peter Reitz, Chief Executive Officer of EEX. “In this context, trading participants can benefit from a complementary product offering of commodities, such as power, gas or fertilisers for example, on one platform and the further expansion of the agricultural product portfolio.
Over the next months, EEX and Eurex will work together with market participants, clearing members, brokers and final consumers to ensure a smooth transition of trading.