PRESS RELEASE
Santander Asset Management, the asset management arm of Banco Santander, has expanded its FX futures business to Eurex, Europe’s leading derivatives exchange, with support from Banco Santander as the Clearing Member and Deutsche Bank as the liquidity provider.
According to an announcement by Eurex, Santander is also planning to launch its FX options business on the platform. Supported by Deutsche Bank, they successfully completed the first-ever block trade of FX options on Eurex.
Jens Quiram, Global Head FIC Derivatives and Repo Sales at Eurex, commented: “We are proud to welcome Santander Asset Management. This is a great addition on our way to becoming the leading FX liquidity hub in Europe. By now trading and clearing listed FX derivatives on Eurex, Santander Asset Management benefits from low exchange fees and regulatory certainty within the EU.”
Imanol Urquizu, Head of Derivatives at Santander Asset Management, commented: “We look forward to working with Eurex to expand our listed FX business in Europe. In addition to our engagement in FX futures we actively collaborate with multiple FX dealers to explore the trading of FX options at Eurex. Integrating FX futures and FX options within the Eurex ecosystem unlocks operational efficiencies and enhances our risk netting capabilities.”
Mario Muth, Global Head of Platform and Listed Derivatives Sales and Head of Fixed Income Market Structure at Deutsche Bank, added: “Deutsche Bank is pleased to provide liquidity to the FX segment at Eurex and is proud to partner with Santander Asset Management to deliver this important initiative. Trading FX on Eurex enables clients to benefit from the efficiencies of a listed derivatives market, and this is a prime example of how Deutsche Bank partners with clients and trading venues to provide liquidity and solutions in the evolving FX market.”
In addition to expanding its FX businesses, late last year, Santander Private Banking International introduced trading and investment opportunities in major cryptocurrencies, such as Bitcoin and Ether, to its high-net-worth clients with Swiss accounts.
