Eurex, Europe's derivatives exchange, has appointed Robbert Booij from ABN Amro as its new CEO. This decision reflects the exchange's ambitions amid the uncertainties related to Brexit and its aspirations to compete in London's derivatives industry.

Departing from the conventional German leadership, Booij, formerly of ABN Amro, brings a fresh perspective to Eurex's strategic direction. Booij's appointment underscores Eurex's response to Brexit's repercussions, particularly in the lucrative euro interest rate swaps clearing market, the Financial Times reported.

Booij’s Journey at Eurex Frankfurt AG

Booij's tenure at ABN Amro Clearing Bank and his previous role as the Chair of Eurex's exchange council position him as an industry insider with a deep understanding of derivatives trading dynamics.

Booij is set to take on the role of Chief Executive Officer at Eurex Frankfurt AG, starting from July 1, 2024, succeeding Michael Peters. Peters, who has been with Eurex Frankfurt AG since 2006 and served as CEO since 2020, will step down in September 2024.

According to the statement shared by Deutsche Borse Group, Booji mentioned: "I know Eurex well from my current role at ABN AMRO Clearing Bank N.V. and had the honour to be the Chairman of the Eurex Exchange Council. Eurex is a global derivatives powerhouse, both in trading and clearing."

"I feel very privileged to be appointed as CEO of Eurex Frankfurt AG. I am excited to work with the team and Eurex's clients in my new role, and to build upon the great achievements delivered under the leadership of Michael." Eurex's growth trajectory is evidenced by its rising clearing volumes, which surged to €185 billion last year, marking a significant uptick from previous years.

Eurex's Strategic Response to Regulatory Shifts

As the EU's regulators seek to reclaim control over euro derivatives, Eurex positions itself as a viable alternative, intensifying its efforts to attract traders and firms to its platform.

Eurex, owned by Deutsche Börse, has embarked on a proactive campaign to attract market share from London's derivatives hub. The exchange aims to solidify its position as a formidable contender in the evolving European financial landscape by introducing profit-sharing schemes and expanding product offerings, including daily options.