Find
May 13, 2015

Eurex Clearing

EUR Secured Funding Futures contract: Market-Making schemes

With Eurex circular 074/15, Eurex Deutschland and Eurex Zürich AG announced the amended Market-Making scheme for EUR Secured Funding Futures contracts which replaces the existing Market-Making scheme and changed the respective quote obligations. Therefore, Eurex Clearing resolved the following measures for the period 11 May 2015 until 31 December 2016, which will replace the measures announced with Eurex Clearing circular 178/14:

  1. Refund of 100 percent of transaction fees in EUR Secured Funding Futures contracts traded (order book and Eurex Trade Entry Services) on the M-accounts for the respective month;
  2. Introduction of a revenue sharing programme whereby 50 percent of the monthly net revenues in EUR Secured Funding Futures will be distributed to the five leading Market Makers according to their trading share (M- and P-account order book and Eurex Trade Entry Services).

In addition, the five leading Market Makers according to their trading share in M- and P-accounts who have fulfilled their quote obligations for four out of six months from 11 May 2015 until 31 October 2015 will qualify for an extension of the Market-Making scheme for EUR Secured Funding Futures contracts.

In conjunction with the extension of the Market-Making scheme, Eurex Clearing will take the following measures for the time period 1 January 2017 until 31 December 2017:

  1. Refund of 100 percent of transaction fees in EUR Secured Funding Futures contracts traded (order book and Eurex Trade Entry Services) on the M-accounts for the respective month;
  2. Introduction of a revenue sharing programme whereby 30 percent of the monthly net revenues in EUR Secured Funding Future will be distributed to the five leading Market Makers according to their trading share (M- and P-account order book and Eurex Trade Entry Services).

For details of the Market-Making schemes and respective contact persons, please refer to Eurex circular 074/15.