Eurex announced plans to launch a new credit default swaps index contract in the first quarter next year, a move that could make it the first exchange to offer such a product.
The news came on 8 September during Swiss Futures and Options Association's Bürgenstock conference when Brendan Bradley, Eurex global head of product strategy, said that the product development was nearing completion. Eurex has been working on a credit default swap futures index for two-and-a-half years, he said, but creating a tradable futures product has been difficult to establish.
FO Week has learned that Eurex officials also met with senior executives at International Index Company (IIC) last week, one source familiar with the discussions said that no issues were raised that would slow down Eurex's progress.
IIC manages the I-Traxx credit derivative and I-Boxx bond indices; Eurex...