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Eurex Clearing
The new pricing model for Single Stock Dividend Futures was introduced on 1 September 2013 and has been communicated in Eurex Clearing Circular 058/13.
It includes staggered transaction fees for Single Stock Dividend Futures, which differ on the basis of the expected dividends for the underlying stocks.
The level of the transaction fee mainly depends on the amount of the dividend at the respective reference date, effective 1 September of each calendar year. The initial reference date will be 14 May 2013. As of 2014, the reference date will be the last trading day in July of each calendar year.
If a successor product to a Single Stock Dividend Future is admitted to trading due to a corporate action in the underlying stock, the successor product will be subject to the same transaction fees as the preceding product.