stoxx and es volumes have been remarkable,i think es did 6m+ on 1 day recently. US TY volumes have also been great,yesterday 2m+ already 1.2m today But why the evaporation of Eurex? I can see the bid/offer size has collapsed,but for me the question is why on eurex not in equities or treasuries. imo these should be memorable days in all aspects,honestly i'm sitting here pretty bored,i guess many others are too. I've seen lots of friends and colleagues over the last few years leave bunds etc and go to US TY and stoxx,stoxx seems to be the natural progression,most likely do the same myself very soon. Genuinely interested to hear your thoughts on this? (Eurex vols not me trading the stoxx)
Another terrible volume day for eurex bonds yesterday. 130 tick range on 600k by 5pm in bunds,bobl and schatz were pretty pathetic also I wonder what it takes for someone at eurex to think there may be a problem.
Well on the UK bank holiday bund only did 342k by close i think. Wait a couple of weeks and kids will be back to school and everyone back off holiday. Is eid holiday across muslim world this week to boot - potentially 1/5th (1.2-1.5billion) of the world's population not doing business.
If it were a Jewish holiday then i'd definitely agree but a muslim holiday,not so sure their contribution is there yet. Another 100+ tick bund range yet it feels dead again. 4 days in a row huge ranges yet the action has been 1 way and felt very staged. Not being glass half empty but am struggling badly to see eurex bond markets making a decent comeback. 65K job cuts from the 50 largest banks,looks like it's all being left the MMs,clearly no paper here. The predatory algo shit is finally having the only outcome it could have. Can't see that being too good for business.
<B>High market volatility leads to increase in August volumes at Eurex Exchange</B> and ISE/Eurex Exchange: KOSPI Product with new record volumes/Eurex Repo: GC Pooling with new all-time high In August 2011, the international derivatives exchanges of Eurex Group recorded an average daily volume of 13.2 million contracts (Aug. 2010: 7.8 million). Of those, 9.1 million were Eurex Exchange contracts (Aug. 2010: 5.4 million), and 4.1 million contracts (Aug 2010: 2.4 million) were traded at the U.S.-based International Securities Exchange (ISE). The massive growth of 69 percent y-o-y is due to the increasing use of exchange-traded and centrally cleared derivatives in the current market environment, which was driven by high volatility and uncertainty resulting from the European sovereign debt crisis. In total, 210.0 million contracts were traded at Eurex Exchange and 94.8 million at ISE. <B>At Eurex Exchange, the equity index derivatives segment grew by 122 percent </B>and totaled 123.5 million contracts (Aug. 2010: 55.5 million). The future on the EURO STOXX 50 Index totaled 50.7 million contracts. The option on this blue chip index totaled 52.1 million contracts. Futures on the DAX index recorded 5.3 million contracts while the DAX options reached another 8.2 million contracts. The Eurex KOSPI Product achieved a new monthly record with almost 2.5 million contracts, an ADV of 108,000 contracts. On 4 August, a new daily peak was recorded with around 208,000 contracts. The equity derivatives (equity options and single stock futures) segment at Eurex Exchange reached 30.9 million contracts (Aug. 2010: 25.0 million). Thereof, equity options totaled 25.6 million contracts and single stock futures equaled 5.3 million contracts. Equity derivatives volume y-o-y is influenced by the change of contract specifications: In Q1 2011, Eurex Exchange increased the contract size of most equity options and single stock futures to match international standards, with the effect of potentially lower turnover in these products. The adjusted figure of monthly volume in the equity derivatives segment in August would have been approximately 37 million contracts based on an extrapolation. <B>Eurex Exchange's interest rate derivatives segment grew by 51 percent and totaled 54.4 million contracts (Aug. 2010: 38.5 million). The Euro-Bund-Future reached 20.5 million contracts, the Euro-Bobl-Future 12.3 million contracts and the Euro-Schatz-Future 13.8 million contracts. The Euro-BTP-Future totaled 226,000 contracts and the Short Term Euro-BTP-Future around 37,000 contracts. </B> The Eurex segment dividend-based derivatives totaled 782,000 contracts â a new monthly record. Volatility derivatives also had an all-time record month with around 289,000 contracts. Eurex Repo, which operates CHF, EUR repo and GC Pooling markets, achieved new records in the EUR Repo and GC Pooling market. The EUR Repo Market totaled an average outstanding volume of 164.1 billion euros in August, an increase of 39 percent y-o-y. The secured money market GC Pooling recorded a new monthly peak with an average outstanding volume of 133.4 billion euros, an increase of 46 percent y-o-y (Aug 2010: 91.6 billion euros). The CHF Repo market reached 92.5 billion euros. All Eurex Repo markets recorded 256.6 billion euros average outstanding volume (Aug 2010: 261.5 billion euros). The electronic trading platform Eurex Bonds, which rounds out Eurex's fixed-income product range, traded 9.1 billion euros (single counting) in Aug, an increase of 41 percent y-o-y (Aug. 2010: 6.4 billion euros). In July 2011, volume was 9.1 billion euros.
I'm always dubious about eurex's pr.I remember when the volumes collapsed after the 2008 crisis and in 2009 they were jumping for joy when they had increased from absurdly low levels. The funny thing is that with all this "alleged" volume i've always got some scumbag who jumps in front of a 10 lot buy/sell order whenever entered,sometimes it feels like a 2 lot is enough to panic a 5 tick run. A really nice piece of info to have would be the top 10 volume participants and if they are paid MM's.
Volume was significantly up today. Price action has been peculiar but there has been a lot of corporate pricing today and yield curve plays going through. Also quite a pick up in block trades. Yesterday was end of month window dressing and today seemed like money being put back to work. With the range we have had today on over 1 million contracts I cant see what your issue is. As I always tell my team, if you don't like it then trade something else.
Volume up 1 day in 4 - not exactly great is it More block trades as well - that'll help us all out,perhaps the increase in blocks is down to the constant front-running/pissing about,I know if I were trading heavily from a decent desk I would've been on the block trade thing ages ago. Month end window dressing? Sounds like the stuff our squawk comes out with when he's got fuck all else to say. My issues are clear I think.
Increase in block trades is most likely due to the rollover next week. Last trading day for the U11 contract is Thursday, 8th September.