January 26, 2018 / 9:24 AM / a month ago

Deutsche Boerse's Eurex unit to end trading in Switzerland

FRANKFURT (Reuters) - Deutsche Boerse’s (DB1Gn.DE) derivatives exchange Eurex said on Friday it would end its trading activities in Switzerland following a regulatory change there, diverting all activity for its global clients through Frankfurt.

The move is in reaction to new Swiss rules aimed at enhancing investor protections and aligning the country with global standards.

Eurex Zuerich AG will end operational trading activities by March 31, Eurex said, adding the change would “reduce legal and operational complexity as well as costs as participants no longer need memberships at two exchanges.”

Eurex also said it had decided not to establish a separately regulated unit in Singapore.

    However, the exchange plans to extend its trading hours to better serve Asia. Currently, the exchange is open 14 hours a day, and a spokeswoman said that could extend to 20 hours a day.

    “We are very pleased to implement changes that will reduce regulatory complexity and cost for our clients,” said Eurex Chief Executive Officer Thomas Book.

    Reporting by Tom Sims; Editing by Mark Potter

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