The global home of MSCI derivatives
MSCI

MSCI Indexes

MSCI indexes are some of the world’s most widely tracked benchmarks and linked to more than USD 16.3 trillion in AUM. The indexes also serve as the basis for over 1,300 Exchange Traded Funds (ETFs). The massive amount of capital benchmarked against MSCI indexes and the improved tradability of index-based products via ETFs has led to an increased need for futures and options. MSCI derivatives help managers facilitate in and outflows of funds, hedge existing equity exposure and enhance portfolio performance.

169 MSCI derivatives

Eurex is the only exchange offering a comprehensive suite of products consisting of futures and options on regional and country indexes: currently, 146 MSCI futures and 23 MSCI options are available covering Emerging Markets (EM) with MSCI Emerging Market Index Futures and Developed Markets (DMs) in different index types (NTR, GTR, and price indexes) and different currencies (EUR, USD, GBP, and JPY), facilitating extensive MSCI trading opportunities.


Now live: Futures on the MSCI Korea Index

Expanding our global index derivatives suite

Developed Markets

With Eurex's MSCI derivatives offering, investors can now bet on entire regions and individual countries. The complete product range covers developed, emerging and frontier markets and includes several attractive contracts on popular benchmark indices such as futures and options:

  • MSCI World Index, covering the universe of developed markets as a whole.
  • MSCI Europe Index, the leading benchmark for European equity funds.
  • All major developed markets in all regions are available via individual futures, e.g. MSCI Japan Index, Australia, USA, Canada, UK, etc.

Emerging Markets

Our regional MSCI Emerging Markets Index derivatives give our participants access not only to leading regional benchmarks (Broad MSCI EMEA, EM, EM Asia and EM LatAm), but also to individual emerging markets in Asia (such as China, India, Taiwan and Thailand), Eastern Europe (such as Poland and the Czech Republic), Africa (such as South Africa and Egypt) or Latin America (such as Mexico and Chile).

MSCI derivatives: Notional Volume and Open Interest in bn EUR

MSCI Futures

MSCI Options

Growth drivers and Key benefits

Growth drivers

  • Liquid OB and Block markets
    Clients can get competitive prices from dealers on products like MSCI EM & EAFE futures & benefit from increased orderbook volumes in top products such as MSCI World
  • Cheaper cost of trading
    Eurex fees are nearly 50% cheaper than main competitors
  • Higher capital efficiency
    Margins are offset against other Eurex products (SX5E, MSCI, Dividends…)
    - Meaningful offset if clients trade other flagship Eurex products
    - Important if trade other MSCI single country futures like MSCI Saudi Arabia or MSCI Japan etc.
    - Eurex reduced MSCI margins further on large/directional positions by introducing Hedging Auctions
  • Buy-side flow indicates wider adoption
    Buy-side now represents over 28% of Eurex MSCI derivatives flow
  • Ease of trading
    Eurex’s new Market on Close (MoC) functionality will allow for transparent basis trading against index close levels. Efficient lock trade rules also make it easier to get sizes done.
  • Breath of offering makes it easier to find better fit
    NTR Versions: Eurex offers NTR versions on EM (ZTS) and EAFE (FFA) and most indexes, rather than just price variations
    Options: Eurex offers MSCI Options on the same platform. Margins are offset between options and futures
    ESG indexes: Eurex offers Screened and Enhanced Focus methodologies on the benchmark MSCI indexes
    Sector, Factor and Thematic Indexes: Eurex offers Sectors on EM & World indexes; Factor indexes on regions and country indexes and thematic indexes

Key benefits

  • Liquid order books for outrights and rolls
  • The broadest offering: 146 MSCI futures and 23 MSCI options
  • Extended trading hours covering three time zones with full clearing and risk management capabilities
  • No position limits
  • No threshold limits on blocks
  • Portfolio-margining offsets available against major equity derivatives


Products

Clearing

Portfolio-based margining methodology (PRISMA) offers the highest levels of cross-margin offsets across equity derivatives

As Eurex is the #1 derivatives exchange in Europe, providing investors access to the broadest spectrum of equity index derivatives, our portfolio-based margining methodology (PRISMA) offers the highest cross-margin levels offsets across equity derivatives. To fully benefit from cross margining efficiencies, take a look at our Eurex Clearing Prisma brochure. For highly accurate what-if scenarios and incremental risk calculations, use our online margin calculators.


Key MSCI Asian underlying products

Switch to the Global Home of MSCI Derivatives

Eurex has the most comprehensive suite of MSCI derivatives across all time zones, including alternatives directly available.

Index Name

Currency

Eurex Ticker 

Bloomberg Ticker

MSCI AC ASEAN

Futures

USD

FMSE

UJCA

MSCI AC Asia

Futures

USD

FMAA

UJBA

MSCI AC Asia ex Japan

Futures

USD

FMXJ

UJEA

MSCI AC Asia Pacific

Futures

USD

FMAP

FJCA

MSCI AC Asia Pacific ex Japan

Futures

USD

FMAS

ZAPA

MSCI AC Asia Pacific ex Japan

Options

USD

OMAS

M1APJ<Index> OMON

MSCI Australia

Futures

USD

FMAU

ZTOA

MSCI China

Futures

USD

FMCH

MURA

MSCI China

Options

USD

OMCH

NDEUCHF<Index> OMON

MSCI China Hong Kong Listed Large Cap

Futures

USD

FMHC

SHEA

MSCI China Hong Kong Listed Large Cap

Options

USD

OMHC

MXCKLU<Index> OMON

MSCI China Tech 100

Futures

USD

FMCT

SJWA

MSCI EM Asia ESG Screened

Futures

USD

FMSS

MUYA

MSCI EM Asia ESG Screened

Options

USD

OMSS

NU733353<Index> OMON

MSCI EM Asia ex China

Futures

USD

FMXC

SJPA

MSCI Emerging Markets Asia

Futures

USD

FMEA

ZTWA

MSCI Emerging Markets Asia

Options

USD

OMEA

M1MS<Index> OMON

MSCI Emerging Markets Asia ex Korea

Futures

USD

FMXK

MXAA

MSCI Hong Kong

Futures

USD

FMHK

ZSSA

MSCI Hong Kong Listed Large Cap

Futures

USD

FMHS

SHLA

MSCI Hong Kong Listed Large Cap

Options

USD

OMHS

MXHKLU<Index> OMON

MSCI India

Futures

USD

FMIN

ZVLA

MSCI Indonesia

Futures

USD

FMID

ZSRA

MSCI Japan

Futures

USD

FMJP

FMIA

MSCI Japan

Futures

JPY

FMJY

JMYA

MSCI Japan

Futures

JPY

OMJP

NDDUJN<Index> OMON

MSCI Japan ESG Enhanced Focus CTB

Futures

USD

FMFJ

SHWA

MSCI Japan ESG Screened

Futures

USD

FMSJ

HRYA

MSCI Malaysia

Futures

USD

FMMY

ZVOA

MSCI New Zealand

Futures

USD

FMNZ

ZTIA

MSCI Pacific

Futures

USD

FMPA

FKBA

MSCI Pacific ex Japan

Futures

USD

FMPX

ZSIA

MSCI Philippines

Futures

USD

FMPH

ZVWA

MSCI Singapore

Futures

USD

FMSI

FPPA

MSCI Taiwan

Futures

USD

FMTW

FPOA

MSCI Thailand

Futures

USD

FMTH

ZWOA

MSCI Vietnam

Futures

USD

FMVN

MVTA

MSCI Videos

MSCI derivatives – The importance of order book liquidity

MSCI derivatives – OTC vs. listed products

MSCI futures – a diverse segment

Contacts

Sophie Granchi
Equity & Index Sales
EMEA


T +33-0680347501


sophie.granchi@eurex.com

Rachna Mathur
Equity & Index Sales America


T +1-212-309-93 08


rachna.mathur@eurex.com

Kris Hopkins
Equity & Index Sales Asia


T +65-6597-3061


kris.hopkins@eurex.com

Dorte Carlsen
Equity & Index Sales EMEA


T +44-207-8 62-72 17


dorte.carlsen@eurex.com

Matthew Koren
Equity & Index Sales America


T +1-917-495 2997


matthew.koren@eurex.com

Tobias Ehinger 
Equity & Index Product Design


T +49-69-211-1 23 13


tobias.ehinger@eurex.com