Cboe Global Markets, Inc. (Nasdaq: CBOE) has announced that Copenhagen based multi asset broker Saxo Bank has signed a license agreement to utilise 15 Cboe European national benchmark indices, including its FR 40, DE 30 and CH 20 indices. Saxo Bank plans to utilise the Indices for benchmarking against European markets and the creation of original products. Cboe’s indices are also expected to be available in real-time and with historical charts to clients via the online Saxo Trader platform.
Guy Simpkin, Head of Business Development at Cboe Europe, said:
Saxo Bank has been a leader in providing cutting-edge products and services to its clients and we are pleased they have chosen to utilise our benchmark indices. By licensing our indices, Saxo Bank clients now have access to real-time, high-quality data they need to better inform trading and investment decisions.
Søren Nedergaard, Global Head of CFD’s and Listed Products at Saxo Bank, added:
Saxo Bank is always looking to improve the trader’s position and with Cboe’s introduction of their European indices, Saxo Bank sees the opportunity to make a good indices product available. Furthermore, it is a strong base component for calculating the Saxo Bank Indication Of Interest price.
Cboe Europe offers 57 indices (calculated in both price and net total return) across 15 markets including 25 national indices, five pan-European indices, one pan-Nordic index, 24 sector indices (12 UK sector indices, 12 European sector indices), and two Brexit 50/50 indices. A full list of the exchange’s European indices is available here.
Cboe’s benchmark indices provide investors and market participants with a real-time, high-quality, low-cost alternative to existing benchmark indices. Cboe’s indices perform closely in line with comparable benchmarks. The indices are transparently calculated, designed and managed under the same set of rules, and valued using Cboe’s own market data, utilising the same start date and base value. This allows users to easily and accurately compare market, region and sector performance across Europe.
Customers across Europe ranging from asset managers, retail and institutional investors, investment banks, vendors and media, are using Cboe index data for various needs including benchmarking, analytics, product creation and real-time presentation of market performance to inform investors and traders.
Customers have been attracted to the straightforward and simplified index licensing arrangements for these indices.
Cboe’s European indices are currently available free of charge to media clients to distribute in real time. The indices are also free of charge to vendors and for benchmarking purposes.
Cboe Europe was registered in March 2018 as a Benchmark Administrator under the EU Benchmarks Regulation (BMR). Cboe Europe’s suite of European indices are BMR compliant.