Webinar · Live Online · Joint session by JP Unboxed and Eurex
Accessing the financing rates banks get
Secured funding and investment via EURO STOXX 50 box spreads, cleared through Eurex. The exchange-traded secured rate, crisis-proven since 2008.
What you will take away
A new lever for raising and investing cash
You'll leave with a clear first understanding of an attractive alternative: raising or investing cash on a secured basis via exchange-traded index options and with Eurex Clearing (AA-rated) as counterparty instead of bilateral credit lines & credit processes.
Confidence that this is a liquid, established market
Not exotic, not complex: standardized contracts on a regulated exchange. €6.1bn notional across 3,680 trades, at an average of +12.9 bp over €STR. All registrants receive the current Eurex research paper by e-mail.
Concrete impulses for your own use cases
Two real-world cases show the range: secured cash investment with the clearing house as counterparty and funding that worked from Lehman 2008, when the interbank market was closed, to today's rate environment.
Who should attend
FUNDING
You hold marketable securities and want to raise liquidity at attractive rates, without selling assets or drawing on bank credit lines.
INVESTMENT
Your cash deposits are not, or only partially, covered by a deposit guarantee scheme, as is the case for banks, funds, insurers, pension schemes and corporates (only partially), and you want to diversify the credit risk of your cash management.
Typically: Treasurers, CFOs, portfolio & fund managers
Agenda
What is a box spread?
The core idea in plain language, no options Greeks required.
The market in numbers
Findings from the current Eurex research paper on OESX box spreads and current market developments.
Case study 1: Secured cash investment
Cash management with the clearing house as counterparty.
Case study 2: Funding through the crisis and in the current rate environment
Funding through the crisis Lehman 2008 and today.
Applications & your path to implementation
Additional use cases, implementation, live Q&A.
Your speakers
Jens Punstein is the founder and managing director of JP Unboxed, the Cologne-based box spread advisory. As a Eurex trader and Senior Director Securities/Trading at Kreissparkasse Köln, he developed the bank's box-spread funding programme in autumn 2008, when conventional refinancing channels were closed. Before founding JP Unboxed, he was a Partner at Antecedo Asset Management and Head of Risk Control at DEG Impact (KfW Group). His work on box spreads has been published in the Hedge Fund Journal.
Matt Koren is part of Eurex' cross-asset sales team in the Americas and is responsible for covering U.S.-based hedge funds from New York. He is also responsible for growing Eurex' index and volatility franchise. Before joining Eurex, Matt held sales trading roles at Citi, Jefferies, Exane and Tradition.
Secure your place
Tuesday, 27 October 2026 · 15:30 CET · Online · Free of charge
Register now, free of charge
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