Swiss German derivatives exchange Eurex is looking to lure proprietary trading firms in emerging markets with a two-year fee waiver programme for volume traders.
The exchange says proprietary traders in countries where direct membership is not possible will be able to access its network using order routing functionality from companies already admitted by Eurex.
The two-year programme covers countries in Europe, Central and South America, Asia and Africa.
In Europe the countries involved are Croatia, Russia, Serbia and Turkey, while in Central and South America the programme will be available to traders in Argentina, Brazil, Chile, Colombia, Mexico, Peru and Venezuela. In Asia, the programme will cover China, India, Malaysia. Traders in New Zealand and South Africa will also be able to sign up.
Companies participating in the programme have the option of trading two million Eurex contracts per year and location without fees for a period of two years. If the trading volume exceeds the limit of two million contracts in the first year, participants will get a fee exemption for three million contracts in the second year.
Michael Peters, Eurex executive board member, says: "Eurex specifically developed this program with market participants in order to promote the training of Eurex traders in new markets as well as to tap additional market potential."
"At the same time we are raising our profile in areas with significant growth potential, while offering an attractive framework to generate additional liquidity," adds Peters.