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Jul 13, 2015

Eurex Clearing

Volatility derivatives: Market-Making scheme for EURO STOXX 50® Variance Futures

In conjunction with the Designated Market Making scheme of Eurex Deutschland and Eurex Zürich AG in EURO STOXX 50® Variance Futures (EVAR) for the period 1 August 2015 to 31 December 2016 Eurex Clearing takes the following measures:

  • Upon fulfilment of the Designated Market-Making requirements in EURO STOXX 50® Variance Futures a reimbursement of 50 percent of the transaction fees for transactions in EURO STOXX 50® Variance Futures concluded on M-accounts in the respective products by Designated Market Makers (order book and off-book transactions) will be granted.
  • Additionally, a revenue sharing scheme of up to 30 percent of the net revenues (transaction fees minus rebates) generated in EURO STOXX 50® Variance Futures will be offered. Distribution takes place on a quarterly basis (beginning in October 2015) to at most five registered Market Makers, provided that all Market Maker obligations were fulfilled. Ten percent of the net revenues are equally distributed between up to five fulfilling registered Market Makers. Up to 20 percent of the net revenues are distributed according to the ranking of the registered Market Maker. Participating Market Makers are ranked according to their individual quality contribution to Eurex Exchange’s order book. Quality ranking, revenue sharing fund and the individual participation of Market Makers will be calculated on a monthly basis.

To register as a Designated Market Maker, please use the form attached and return it to Sascha Semroch at fax number +49-69-211-61 50 78 or e-mail: sascha.semroch@eurexchange.com.