Eurex Exchange has taken steps to ensure that trading on its markets will not be impacted by the potential spread of coronavirus across Europe.
In a statement, Eurex said that it would allow market participants to trade outside of their notified and approved trading locations in the case of an emergency situation, such as extraordinary sickness rate, sovereign actions and prevention measures.
Traders have been asked to inform Eurex of the details of the emergency, contact information, and the location at which they will trade should the steps need to be taken.
“Eurex Deutschland has taken appropriate emergency measures to ensure orderly exchange trading conditions,” Eurex said. “It is expressly pointed out that the management board is entitled to make additional orders in specific individual cases to ensure orderly exchange trading conditions.”
Global markets have been hit by the spread of coronavirus, with UK and US stock markets suffering their worst week – from 24-28 February – since the global financial crisis in 2008. Markets have since rallied after multiple central banks, including in the UK and US, pledged to implement measures to support the economy.
This week, US investment bank Goldman Sachs banned its staff from all non-essential business travel as a precautionary measure to prevent further spread of coronavirus. JP Morgan also made a similar move the week prior.