Eurex Posts Record Trading Volume of FX Futures in Q3 2022

FX Futures at Eurex hit another record quarter with more than 410,000 contracts traded in Q3. This follows up on previous record quarters established in Q2 (392k contracts) and Q1 (374k contracts) this year. The open interest remains stable at ca. 77k contracts being held predominantly in EUR/USD and related Euro-pairs.  

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Participants are increasingly combining the liquidity of OTC FX markets with the benefits of listed derivatives by transacting in exchange-for-physicals (EFPs). EFPs are the simultaneous transaction of an OTC FX instrument and an FX Future.

This swap-like transaction enables market participants to convert OTC positions into an FX Futures position (and vice versa). During the September roll, Eurex registered a single EFP trade for 57,000 FX Futures contracts with a nominal value of €5.7 billion.

New back-to-back records were also achieved in Daily USD/KRW Futures, with 75k and 77k contracts traded in August and September, respectively. Since the launch of Daily USD/KRW Futures in July 2021, more than 725,000 contracts have been traded.