Eurex is one of the world's leading derivatives exchanges, providing European benchmark derivatives featuring open and low-cost electronic access globally. Its electronic trading and clearing platform offers a broad range of products, and amongst others operates the most liquid fixed income markets[citation needed]. Eurex was established in 1998 with the merger of Deutsche Terminbörse (DTB, the German derivatives exchange) and SOFFEX (Swiss Options and Financial Futures).
Eurex is considered one of the "big three" derivative exchanges[by whom?], along with NYSE Euronext Liffe and the Chicago Mercantile Exchange. It is owned by Deutsche Börse and SIX Swiss Exchange.
On December 13, 1996 Deutsche Börse AG and Swiss Exchange signed a memorandum of understanding to create a joint trading and clearing system.
Eurex was formed on September 4, 1997 when DTB and SOFFEX officially announced in Bürgenstock/Switzerland to create a joint platform. In 1998 the DTB (Deutsche Terminbörse) and SOFFEX (Swiss Options and Financial Futures Exchange) merged and became Eurex (European Exchange). Since September 1998 members of both exchanges trade by using a joint trading and clearing platform. Thereby, becoming one of the first exchanges providing access to derivatives markets by using a full electronic trading and clearing platform. Eurex, is jointly owned by Deutsche Börse and SWX Group.