Euronext is taking its first foray into fixed income derivatives, reports Markets Media. The bank revealed its plan in a results call this month, stating that it will start with mini futures cash settled on European government bonds.
Euronext CEO and chairman of the managing board Stéphane Boujnah describes mini futures, which were designed to provide greater accessibility and flexibility for investors and asset managers, as “one of the most significant innovations in financial derivatives in recent years”.
According to Markets Media, the product will launch on the Euronext Derivatives Milan market in September this year. It will be made available on Euronext’s proprietary Optiq trading platform, supported by dedicated market makers and Euronext Clearing. Euronext attributes its ability to launch such innovative derivatives products to the launch of its own clearinghouse.
Anthony Attia, Euronext’s global head of derivatives and post trade, reveals that mini futures are only the first step in the group’s diversification into fixed income derivatives and “there will be other steps”.
