Eurex upgrade timeline too tough, say banks

As exchanges prepare roll-out of major upgrades, banks are struggling to cope

European clearing firms are calling on Eurex to delay a major upgrade to its derivatives platform – a move that will allow the bourse to launch futures with more expiries – citing a lack of time to prepare and implement the technical changes requested by the exchange.

Eurex’s so-called Next Generation derivatives initiative will see it introduce sub-monthly contracts, which would allow for multiple expiries on the same underlying several times a month, as opposed to a single expiry, usually at