 The Impact of the Introduction of the Euro on the Structure and the Trade Volume of the European Derivatives ExchangesJan Hájek Czech Journal of Economics and Finance (Finance a uver), 2000, vol. 50, issue 7-8, 406-420 Abstract: The article analyzes and summarizes several considerations the impact the introduction of the euro had on derivatives exchanges in Europe. It further outlines perspectives of potential developments. The author has divided the analysis into three parts according to the main types of exchange-traded contracts: short- and long-term interest-rates and index derivatives. The effects on the underlying assets, changes in territorial structure, and volumes of trade between January 1997 and October 1999 are discussed in each part.The main findings suggest that trade volumes are centering on the only underlying asset for any type of derivatives. The benchmark for short-term interest-rate derivatives became Euribor; for long-term interest-rate derivatives it was the German Bund; and among euro indexes are dominant Stoxx indices. Moreover, the trade in Euribor derivatives is largely concentrated in London (Liffe); however, Bund derivatives are mostly traded in Frankfurt (Eurex). Keywords: financial derivatives; derivatives exchanges; euro; Economic and Monetary Union (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:fau:fauart:v:50:y:2000:i:7-8:p:406-420 Access Statistics for this article More articles in Czech Journal of Economics and Finance (Finance a uver) from Charles University Prague, Faculty of Social Sciences Contact information at EDIRC. |
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