International derivatives exchange Eurex traded a total of 226.6 million contracts in October (not including the trading volume of its International Securities Exchange subsidiary), just short of the record of 229.4 million contracts set the previous month and representing year on year growth of 55 per cent from 145.9 million contracts in October 2007.

Eurex says the huge growth from 12 months ago is partly attributable to increased use of exchange-traded derivatives during the ongoing market turmoil. So far this year Eurex volumes have totalled 1.9 billion contracts, up 18 per cent from 1.6 billion between January and October 2007.

The strongest growth was in equity index derivatives, which amounted to 140 million contracts, up 140 per cent from 58.4 million a year earlier and a new monthly record. The Dow Jones Euro Stoxx 50 Index future saw some 56.6 million contracts traded, while turnover of the Euro Stoxx 50 Index option rose by a third from its previous record in September to 60.2 million contracts. Options and futures on Germany's Dax equity index also reached new peaks of 13.3 million and 6.2 million contracts respectively.

The equity derivatives segment, consisting of equity options and single stock futures, grew by 28 per cent year on year to 34.1 million contracts, up from 26.6 million in October 2007, with equity options totalling 30.4 million contracts and single stock futures 3.6 million.

Interest rate derivatives saw 52.5 million contracts, down from 61 million a year earlier and 72.6 million the previous month. The Euro Bund Future traded 19.8 million contracts, followed by the Euro Schatz Future with 13.1 million contracts and the Euro Bobl Future with 12.2 million.

At the International Securities Exchange, which has been part of Eurex since December 2007, average daily trading volume of US options totalled 4.4 million contracts, up from 3.7 million in October 2007, while the monthly total was 102.0 million contracts. So far in 2008 the average daily trading volume of all options has increased 34 per cent to 4.2 million contracts.

Eurex Repo, which operates Swiss franc and euro repo markets, also set new record volumes. The secured money market segment, Euro GC Pooling, saw outstanding volumes reach EUR51.2bn, while daily outstanding volume set a new mark of EUR57.7bn. The euro repo market grew by 95 per cent year on year to an average outstanding volume of EUR81.6bn, compared with EUR41.9bn in October 2007, while the Swiss franc repo market has an average outstanding volume of EUR77.5bn.

The electronic trading platform Eurex Bonds saw trading volume of EUR8.1bn (single counting) in September, down from EUR10.2bn the previous month and EUR11.5bn in October 2007.


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