Cboe Europe Derivatives (CEDX) today announces that IMC has become a new direct trading participant, gaining access to the exchange’s range of pan-European index and equity derivatives.
Iouri Saroukhanov, Head of European Derivatives at Cboe Europe, said:
“We are excited to welcome IMC to CEDX and further diversify the types of liquidity the exchange offers to institutional and retail participants. The support of a company of IMC’s caliber demonstrates the broad reach of CEDX, which lowers barriers to entry for European derivatives through its pan-European model and promotes deep and liquid on-screen markets. We look forward to IMC actively participating in our full range of equity derivatives and supporting us on our journey to create a bigger and more efficient European derivatives market.”
IMC is a leading global market maker trading in all major asset classes on more than 100 trading venues around the world. With offices in Europe, the United States and Asia Pacific, its core business is to provide meaningful liquidity to financial instruments, helping to make markets more efficient and adding value to all market participants.
Koen Langemeijer, Head of Market at IMC Europe, said:
“We are very excited to become a direct participant in trading on CEDX and provide liquidity to the exchange’s full range of pan-European equity derivative contracts. We are fully aligned with CEDX’s ambitions to strengthen and grow Europe’s derivatives markets and look forward to providing its participants with access to our exceptional levels of liquidity.”
CEDX launched in September 2021, initially offering trading in futures and options based on Cboe Europe single-country and pan-European benchmarks, with clearing provided by Cboe Clear Europe NV The exchange is designed to promote liquidity on screen and offers a single point of access to pan-European equity derivatives products, creating significant operational and capital efficiency for participants.
CEDX expanded into equities in November 2023 and expanded the range of these products in Q1 2024. It now offers more than 300 options on companies from 14 countries (Austria, Belgium, Denmark, Finland, France, Germany, Ireland, Italy , the Netherlands, Norway, Spain, Sweden, Switzerland and the United Kingdom). These products amount to more than 90% of the current ADV and open interest in the top 600 European equity options, as of June 2024.