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Cboe, already one of the biggest pan-European share trading
platforms with operations in London and Amsterdam, said ABN AMRO
Clearing, Goldman Sachs and Morgan Stanley had signed up to
participate.
Cboe's in-house clearing arm, Amsterdam-based EuroCCP, will
clear the equity derivatives trades.
"We have listened to the needs of market participants and are
designing this new market from a pan-European point-of-view,"
said David Howson, Cboe's president for Europe and Asia Pacific
at Cboe Global Markets.
The venture, which had been due to launch in the first half of
this year, will initially offer trading in futures and options
based on six Cboe Europe indices that cover top euro zone
shares, and top British, Dutch, Swiss, German and French shares.
Cboe's decision is a further boost to Amsterdam, which became
Europe's biggest share trading centre in January after trading
in euro shares moved there from London.
Euro swaps trading has also moved from London to Amsterdam, with
trading in carbon emissions due to follow.
Cboe faces tough competition from long-established rivals such
as Deutsche Boerse's Eurex and Euronext, but hopes to grow the
market overall in a region where futures and options are largely
traded along national lines.
The exchange seeks to apply its long experience in U.S. futures
and options trading out of Chicago to develop a European market
with more of a U.S. approach.
(Reporting by Huw Jones; Editing by Edmund Blair)
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