With Anya van den Berg, vice president – data and analytics at Market Data + Services, Deutsche Börse Group.
Describe your own professional background and responsibilities at Deutsche Börse?
I have over 15 years’ experience working in the data and technology space within the financial sector and was promoted last year to lead the analytics sales team globally at Deutsche Börse. I also dedicate my time to being a mentor to other women in the industry through the “Women in Banking and Finance” (WIBF) programme and was recently recognised for the Rising Star award at the “European Women in Finance 2022” awards.
Looking back retrospectively over 2022, what trends have you seen across the exchanges at Deutsche Börse?
Unsurprisingly trading volumes are up across both cash and derivatives markets. This has a big impact on the datasets adopted at Deutsche Börse as both our Xetra and Eurex exchanges produce sentiment-based analytics that provide unique clarity and insights on the flows executing across these networks. As trading demand increases at the venue, there is a higher interest for proprietary exchange data that focuses specifically on the market participant groups transacting these trades.
Why do you think Deutsche Börse has seen such a large spike in adoption of your derivatives-based analytics?
I think the reason is two-fold. Firstly, Eurex, the leading European derivatives exchange, has become even more important for investors with volumes in 2022 growing by 15 percent to 1,955.7 million contracts. Over the complete year 2022, index derivatives and interest rate derivatives grew similarly, by 21 percent and 20 percent respectively.
At the same time, the “Eurex Open Interest” product offering launched in January 2022 helping customers on both the buy and sell side navigate the ever-increasing volumes: They can now see net-traded flow uniquely broken down by market participant groups, with the adjusted open interest alongside. This provides customers with unique insights into market positioning and dynamics allowing an in-depth view into the distributions of exposure in futures and options. Seeing the Open Interest build-up for strikes attributed to the type of participant can therefore produce meaningful signals and market sentiment that cannot be sourced anywhere else in the industry. In summation this level of transparency on top of the increase in trading volumes has understandably ignited an extreme level of interest and adoption of our analytics as a result.
What recent enhancements have you implemented in order to maintain the level of interest and value derived?
In February 2023 the “Eurex Open Interest” offering had another major enhancement release, with an expanded coverage of over 1,000 products. This also included simplified quarterly-scope criteria and additional reference data. These improvements have all been built out as a direct result of valuable feedback from our growing customer base across the buy- and sellside.
What other new product launches are planned in the Analytics department this year?
Eurex is continuously working to shed more light on the market microstructures of its Futures and Options order books and to increase market transparency via additional market data information and tools.
Eurex strives to empower the trading community to be able to evaluate order book concentration, to identify chances and opportunities, and to contribute to liquidity formation and price discovery. As a result, Eurex Herfindahl-Hirschman Index (HHI) for EOBI has been developed. Consequently, Deutsche Börse MD+S will sell the historical data produced as part of this recent development project.
In other markets, off the back of the success of our Bond Liquidity offering, we are working very closely with Clearstream to develop other Fixed Income analytics around Holdings data, Settlement Fails and Securities Lending. We hope to launch these products in the coming months ahead to add to our growing portfolio.
For further information on Deutsche Börse’s Analytics, please visit: https://mds.deutsche-boerse.com/mds-en/analytics, or email analytics@deutsche-boerse.com
This article was first published in GlobalTrading on February 21, 2023.
