Austria-based bourse the Vienna Stock Exchange announced on September 19, 2013 that it will cease to offer derivatives trading starting in March 2014. The exchange made the announcement after a meeting of the Supervisory Board of Wiener Börse AG.
Economic reasons were cited by the bourse as being the impetus for this decision to stop offering trading of the risk management tools. The Vienna Stock Exchange has been experiencing lackluster transactions for these derivatives, according to data that was provided by the website of the bourse and reported by Reuters.
Only 13,353 of these contracts were traded on the Austria-based exchange in August, which is only one-third of the volume that was transacted on major derivatives exchange Eurex, according to the news source.
The Vienna Stock Exchange noted that since 2006, the rival bourse has offered derivatives trading of futures and options based on Austrian stocks.
"We have seen a steady increase in the Eurex exchange and unfortunately a decrease at the Vienna Stock Exchange," a spokeswoman for the Austria-based exchange stated, the media outlet reported. "Eurex is a huge competitor in the derivatives market and we are simply too small."
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