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The
German exchange operator had said in June the Singapore-based
Eurex Asia derivatives exchange and clearing house would begin
operations in the second quarter of 2016.
Problems with the exchange's C7 clearing software were one
reason for the delay, one of the people said. "It's still not
working smoothly in some tests," the person said.
Deutsche Boerse Chief Executive Carsten Kengeter has been
reviewing growth priorities since taking the helm in June. His
predecessor, Reto Francioni, set the course firmly for expansion
in Asia as crucial to the exchange operator's success in the
coming years.
While Kengeter, who has worked in Asia and speaks some Chinese,
is still committed to the region, his most significant moves so
far have been in Europe, with the takeover of foreign exchange
trading platform 360T and buyouts of equity index joint ventures
Stoxx and Indexium from Switzerland's Six Group.
A Deutsche Boerse spokesman broadly confirmed the delay to Eurex
Asia to 2017 due to "internal and external" reasons but declined
to give details.
"The scope and objective of the project remain unchanged; the
significant expansion of the Asia business is an important
element of our corporate strategy," the spokesman said.
Beside its plans for Eurex Asia, Deutsche Boerse announced
earlier this year that it had agreed to set up a joint venture
with Shanghai Stock Exchange and China Financial Future Exchange
to develop and market Chinese shares, bonds and ETFs for
investors outside mainland China.
(Reporting by Andreas Kroener; Writing by Jonathan Gould;
Editing by Thomas Atkins; Editing by Thomas Atkins)
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