Frankfurt – July 24th, 2019 – Union Investment, one of Europe’s leading asset managers for private and institutional clients, has started trading Eurex FX Futures after seeing growing traction in the product as part of their overall FX portfolio strategy.
Eurex offers monthly and quarterly FX Futures as well as Rolling Spot Futures to best support both the buy and the sell side. The products are a component of Deutsche Börse Group’s FX strategy, consisting of the FX offerings at Eurex and 360T. They provide customers with the optimal product, execution model as well as clearing and settlement models, thus helping them navigate the current market environment with increasing focus on the portfolio cost and impact of each trade.
“We are now using Eurex FX Futures in our overlay strategies. Eurex gives us access to reliable and growing FX liquidity in an European exchange, where the pricing granularity matches our OTC exposures.” says Christoph Hock, Head of Multi-Asset Trading at Union Investment. “We have started with the Eurex monthly and quarterly expiries, and intend going forward to make use of the Rolling Spot Futures too, as well as the 360T off-exchange liquidity pool when we need bilateral pricing in size.”
Carlo Kölzer, Global Head of FX at Deutsche Börse Group and CEO of 360T says: “Union Investment is an important client for us, and this feedback is representative of the typically favourable response we are getting to our family of listed FX products. With client understanding of UMR and the portfolio cost benefits of using listed and cleared FX, our Rolling Spot Futures which have no basis to quarterly dates can be an enabler for mandates that were previously not possible to proceed with using traditional listed FX. With key FX market participants on both maker and taker sides finalising their access to Eurex FX Futures, we look forward to further deliver on our ethos of giving clients the right choice of product, execution model, and clearing and settlement model to get their best FX trading outcome.
The Eurex FX Futures are available in EURUSD, GBPUSD, AUDUSD, USDJPY, USDCHF, EURCHF, EURGBP, GBPCHF, EURJPY, AUDJPY, EURAUD, NZDUSD.
Claudia Stirner / Head of Marketing & Communication 360T Group
Telephone: +49 69 900 289 112
Email: [email protected]
Union Investment Privatfonds GmbH
Christoph Hock / Head of Multi-Asset Trading
Telephone: +49 69 2567 1078
Email: [email protected]
For more information about EUREX FX products please contact: [email protected]
Operated by Deutsche Boerse Group, Eurex offers a broad range of international benchmark products and operates one of the most liquid fixed income markets in the world, featuring open and low-cost electronic access. With market participants connected from 700 locations worldwide, trading volume at Eurex exceeds 1.7 billion contracts a year, making us the market place of choice for the derivatives community worldwide.
About 360T Group
360T is an independent and globally-established trading venue. As Deutsche Boerse Group’s FX unit, 360T provides a web-based trading technology for over-the-counter (OTC) instruments, integration solutions and related services. Since its inception in 2000, the company has developed and maintained a state-of-the-art multi-bank portal for foreign exchange, cash and money market products and FX/interest rate derivatives.
360T’s secure global transaction network enables clients to trade with greater transparency and enhanced control at every stage of the trading lifecycle. The company also offers licensing of a hosted white labelled trading technology between a scalable group of price-takers and either proprietary price providers or a rich choice of back-to-back liquidity sources. 360T’s buy-side clients are national and multinational corporate treasuries, institutional clients (asset managers, hedge funds, commodity trading advisors), broker/dealers and banks. The company is authorized under German law and regulated by the German Federal Financial Supervisory Authority (BaFin).
Headquartered in Frankfurt am Main, Germany, 360T maintains subsidiaries in New York (360 Trading Networks Inc), Singapore (360T Asia Pacific Pte. Ltd.), India (ThreeSixty Trading Networks (India) Pvt Ltd) and Dubai (360 Trading Networks LLC).
Further information: www.360t.com
About Union Investment
Founded in 1956, the Union Investment Group is one of Europe’s leading asset managers for private and institutional clients. Union Investment is part of the German financial co-operative sector with a stable long-term shareholder structure and credit rating. With € 349 billion in assets under its management as at 30 June 2019, Union Investment offers a range of active asset management solutions with strong expertise in European and Global Equities, Credits, Convertible Bonds and Real Estate