Exchange of the year: Eurex
Last year’s persistent rally in European bond markets may have been unwelcome for rates dealers, but it turned two of Eurex’s contracts into go-to hedges
With interest rate volatility all but absent for three quarters of the year, and European sovereign bond markets locked in a non-stop rally, 2014 should have been a year to forget for an exchange that has fixed income as the beating heart of its franchise.
And yet, despite a torpid year for fixed income, currencies and commodities (Ficc) divisions, Eurex is toasting record volumes for several of its fixed-income contracts, as well as unveiling a raft of new launches in the asset class. Dealers
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