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    Equity Index Market Briefs

    Release date: 14 Nov 2018 | Eurex Exchange

    Equity Index Highlights - November 2018 edition

    Latest Briefing

    Market briefing

    October saw 10-year US treasuries confirm the technical breakthrough of the psychological 3% yield barrier. This confirmation was a cue for a global decline in equity markets and a spike in realized volatility. Amongst past month's noise, there were some clear themes with volume hotspots across several products: iShares Physical Gold ETC options, Total Return Futures, Banks Sector derivatives, and DAX? family benchmark derivatives.

    Listed just this May, our members embraced the iShares Physical Gold ETC Options, already breaching the one million contract threshold. Large blocks of put options traded in the March 2019 expiry drove the volume. The Total Return Futures saw notable record volumes and open interest building in the last week of October, indicating forward hedges being initiated. The bulk of trading was on the Dec 2020 bucket, likely due to the maturity extension of key strikes coming from auto-callable risks. Open interest has now reached EUR 23 billion, spread across the full term-structure out to Dec 2027. The Banks Sector has also been in sharp focus. Not in the least because of the Italian banks, which have drawn scrutiny over a deteriorating national budget and bank stress tests. This intense flow of news led to volumes increasing in Banks futures & options and Banks index dividend futures. Intesa Sanpaolo was the most active single stock dividend future as a projected 10% dividend yield looks to be a potential outlier. The regional elections in the German state of Hesse saw the centrist parties of the CDU and SPD down 10% compared to the previous election. It prompted Chancellor Merkel to confirm that she will be stepping down at the end of her term in 2021. Market response was most clearly visible in the volumes of DAX? and Mini-DAX? Futures which have been strong for several months now.

    Market participants have had good reason to adopt a 'buy the dip' mentality over the past decade. However, some investors may now choose to implement a 'sell the bounce' approach as a few red flags have been raised. These flags include heavy losses in high momentum US tech stocks and a jump in implied volatility. This jump impacts minimum variance and volatility target strategies. Regardless of market moves, Eurex has proven itself more than capable over the past volatile month, providing its members deep liquid markets and price transparency in our benchmark derivative products.

    Zubin Ramdarshan, Head of Equity & Index Product Design, Eurex


    Facts & figures



    News section

    Eurex spoke with market participants from BlackRock and Morgan Stanley to understand the opportunities available for investors to trade IGLN options, how to incorporate them in trading strategies and what the future for IGLN options holds.

    Asian trading hours extension: "This will improve the price discovery process and general stability of markets"

    Harold de Boer, Transtrend, gives a commodity trading advisor's opinion on Eurex' plan to extend its trading hours into the Asian time zones.

    Total Return Futures reached a daily record


    An important milestone for our futurization strategy: on 30 October, we reached a new daily record for?Total Return Futures?with 52,500 traded contracts, which is equivalent to EUR 1.65 billion notional.


    Watch the first part of our dividends video series. In this short video interview, Gabriel Messika, Delta One Trader at BNP Paribas, discusses how dividends evolved, its growth drivers, and how Eurex contributed to joint market innovation with market participants.


    Events

    Thank you for attending Derivatives Forum London

    A big thank you to all Derivatives Forum London 2018 speakers and participants. Over 260 buy and sell side representatives attended this insightful afternoon. Discussions ranged from industry innovation to?euro clearing?and of course Brexit. Our asset class breakout sessions were forum highlights. In case you missed it, learn more on our?equity index derivatives, futurization and our innovative product suite of?Total Return Futures,?iSTOXX?and?dividends.

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    Equity Index Highlights – November 2018 edition

    Equity Index Highlights – November 2018 edition

    Market briefing October saw 10-year US treasuries confirm the technical breakthrough of the psychological 3% yield barrier. This confirmation was ...

    Equity Index Highlights – October 2018 edition

    Equity Index Highlights – October 2018 edition

    Market briefing Zubin Ramdarshan, Head of Equity & Index Product Design, Eurex Facts & figures News section Asia, MSCI and Eurex' ...

    Equity Index Highlights - September 2018 edition

    Equity Index Highlights - September 2018 edition

    Market Briefing As the summer ends and we move into September, a statistically poor month for equity markets, there are several themes which are ...

    Equity Index Highlights - August 2018 edition

    Equity Index Highlights - August 2018 edition

    Market Briefing Without knowing in how far temperatures and trading volumes are negatively correlated, Eurex notes that, while the month of July ...

    Equity Index Highlights - July 2018 edition

    Equity Index Highlights - July 2018 edition

    Market Briefing [Video] Zubin Ramdarshan, Head of Equity and Index Product Research & Development Facts & figures News section In June, ...

    Equity Index Highlights - June 2018 edition

    Equity Index Highlights - June 2018 edition

    Market briefing The result of the Italian elections dominated the headlines in May and drove volatility substantially higher. However, more ...

    Equity Index Highlights - May 2018 edition

    Equity Index Highlights - May 2018 edition

    Market briefing The equity market correction triggered in February that brought volatility has faded as global equity markets made gains in April.

    Equity Index Highlights - April 2018 edition

    Equity Index Highlights - April 2018 edition

    Market briefing The market briefing, given by Markus-Alexander Flesch, Global Head Sales Equity & Index Derivatives, is packed with news and ...

    Equity Index Highlights - March 2018 edition

    Equity Index Highlights - March 2018 edition

    Market briefing February was characterized by the sudden return of market volatility. Analysis suggests that fears over inflation and a new Fed ...

    Equity Index Highlights - February 2018 edition

    Equity Index Highlights - February 2018 edition

    Market briefing The market briefing, given by Zubin Ramdarshan, Head of Equity and Index Product Research & Development, is fully packed with ...

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  • 我国纳米核心技术取得重大突破 2019-02-17
  • 9年过去了 男子网坛还是费纳的天下 2019-02-17
  • 2018国际消费电子产品展 2019-02-14
  • 阿联酋计划向火星发射无人飞船 刷新阿拉伯太空史 2019-02-10
  • 国家统计局:5月一线城市房价同比持续下降 二线城市有所上涨 2019-02-02
  • 医疗专家入藏 免费治疗患儿 2019-01-29
  • 2018春运开启再读冰心莫言冯骥才笔下的“春运记忆” 2019-01-29
  • 《超人总动员2》刷新动画片北美首周末票房纪录 2019-01-29
  • 涉嫌诈骗1200万 潜逃韩国8年逃犯归案 2019-01-27
  • 桐庐县:互联网+社会治理的小县“大”思路  2019-01-21
  • 中央军委印发《传承红色基因实施纲要》 2019-01-18
  • 财政部发布五月份全国财政收支情况 2019-01-08
  • 江汉区国税局四个抓手助推内控机制建设不断深化 2019-01-08
  • 到户就不是计划经济,统一经营坚持集体的是计划经济。 2019-01-05
  • 工业互联网支持政策密集出台 2019-01-05