One of Europe's biggest derivatives exchanges opened late after experiencing 'serious issues'

MICHAEL PROBST AP/Press Association ImagesThe trading floor of the stock exchange in Frankfurt. First Derivatives provides software and services to finance companies.

  • Two of Deutsche Boerse’s trading platforms experience major “issues” on Wednesday morning.
  • Outages force both the Eurex and Xetra platforms to begin trading late.
  • By 8.00 a.m. GMT issues had been dealt with, Deutsche Boerse said.

LONDON – Two of the trading platforms at Deutsche Boerse opened late on Wednesday morning after experiencing “issues.”

Deutsche Boerse’s Xetra trading platform experienced disruptions due to technical problems, the company said on its website, but did not provide any further information about what the issues were. A notice announcing the disruption has since been removed from the site.

By just after 8.00 a.m. GMT (9.00 a.m. CET; 3.00 a.m. ET) Deutsche Boerse said that the Xetra platform was functioning properly, and that trading had resumed on the exchange.

Xetra is among the largest venues for the trading of equities and exchange-traded funds in Europe.

At the same time as the Xetra outage, Deutsche Boerse also said that its Eurex platform was experiencing “serious issues.” Eurex’s main focus in terms of trading is on futures and derivatives.

The issues that impacted Xetra and Eurex did not spill into Deutsche Boerse’s main trading platform.

Deutsche Boerse is one of the exchange groups battling to attract any clearing business that is forced out of London, announcing a scheme back in October whereby it will share profits with the largest participants on its Eurex clearing platform in an attempt to bring more business to the country.

The location of euro-denominated trade clearing has been a hot topic since the euro first entered circulation in the late 1990s.

European policymakers have argued that euro clearing should take place within the euro area. Britain has repeatedly had to defend its right to clear euro trades, given that it does not have the euro. Years of disputes culminated in a legal battle in 2015, which the UK ultimately won.

However, Brexit has provided fresh impetus for those seeking to move clearing out of London. The ECB proposed a change to its statutes that would give it “a clear legal competence in the area of central clearing,” back in June.

Under the new scheme, Eurex will give a share of its profits to its 10 most active participants, as well as offering seats on its board to the biggest five.

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