Cboe Europe
Derivatives (CEDX)
A modern, efficient pan-European derivatives market
Cboe Europe Derivatives (CEDX) is a pan-European derivatives marketplace which enables participants to access a vibrant equity derivatives market through a single access point, creating efficiencies in trading and clearing. Our mission is to build a modern pan-European marketplace designed to grow the European equity derivatives market overall and create new opportunities and efficiencies for market participants to express their views and manage their equity exposure.
Key Features
A Single Access Point
Access a modern, efficient pan-European derivatives marketplace through a single access point, streamlining operational costs
On-screen liquidity
CEDX promotes deep and liquid on-screen markets through attractive incentive schemes and in-built protections for market-makers
Enhanced product design
CEDX products are designed with customer needs on top of mind, with market-friendly contract specifications and tick sizes, cost-effective pricing and common rulesets
Clearing Efficiencies
All trades on CEDX clear via Cboe Clear Europe, a leading pan-European clearing house, offering unrivalled margin efficiencies across cash equities and equity derivatives positions.
Market Structure and Design
CEDX has developed an enhanced market design for the trading of European equity derivatives. The Central Limit Order Book sits at the core of the CEDX offering to promote deep and liquid markets. Complementary functionalities, aimed at supporting price discovery and price improvement, include automated price improvement auctions and block trading functionality for pre-arranged block trading for larger-sized liquidity.
CENTRAL LIMIT ORDER BOOK
Designed to promote deep and liquid on-screen markets.
AUCTION MECHANISMS
Tried and tested automated price improvement auction mechanisms for client orders.
BLOCK PUBLICATION REGIME
A transparent block publication regime for larger-sized orders.
Products
CEDX offers the following products:
CEDX offers a range of futures and options contracts based on Cboe Europe single country and pan-European indices. These indices, which are all calculated using Cboe market data, are transparently designed and managed under the same set of rules and perform closely in line with comparable benchmarks.
CEDX is launching pan-European single stock options in November 2023, subject to regulatory approvals. CEDX will unlock further efficiencies by offering the ability to trade options on leading European companies from across the region alongside European Indices on a single marketplace.
Additional Resources
CEDX News and Insights
Disclaimer: This information is not being provided as part of an offer or sale of any futures or options products to any persons located within the United States.