Ahead of TradeTech FX this week, Goldman Sachs is joining the FX futures business at Eurex, both as a trading and clearing member and by offering liquidity for off-book transactions.
The ability to maintain a bilateral trading relationship to access OTC liquidity while benefiting from a fully cleared FX contract allows market participants to swap OTC trades into exchange-traded and centrally cleared contracts, thus removing uncleared exposure, and optimising capital allocation.
Jens Quiram, global head of FIC derivatives and repo sales at Eurex, said: “We are delighted to see Goldman Sachs offering their global client base access to our listed FX derivatives suite.
“Goldman Sachs’ engagement both as clearing member and liquidity provider will enable even more clients to benefit from listed FX liquidity at Eurex. This is another major milestone on our way to expand Europe’s leading listed FX liquidity hub.”
Joseph Nehorai, global co-head of futures at Goldman Sachs, said: “With block trades and EFPs, we can offer access to OTC liquidity while transacting in a listed instrument. Increasing funding and capital costs evolving in FX markets are leading to a growing appetite to move towards listed FX derivatives. This enables the buy-side community to enjoy the advantages of OTC trading and centrally cleared derivatives.”
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