08 Oct 2020

Eurex Clearing

Dividend Futures and Single Stock Futures: Amendments to the Price List of Eurex Clearing AG

Eurex Clearing Circular 081/20 Dividend Futures and Single Stock Futures: Amendments to the Price List of Eurex Clearing AG


1.    Introduction

In the context of the review of the Dividend Futures and Single Stock Futures segment, transaction fees in certain Single Stock Dividend Futures will be reduced by 50 percent and post-trade fees for Single Stock Futures will be adjusted. The amendments will be reflected in the Price List of Eurex Clearing AG (Price List) and will come into effect as of 2 November 2020.

For detailed trading-related information with regards to the review, please refer to Eurex circular 078/20.

Start of production: 2 November 2020

2.    Required action

Market participants should ensure that their internal processes and technical interfaces are updated in order to process the amended fees properly.

3.    Details

Pricing measures and corresponding amendments to the Price List

To accompany the introduction of the quarterly expiration in Single Stock Dividend Futures, Eurex Clearing will introduce differentiated transaction fees based on the remaining time to expiration of the contract traded. Transaction fees on shorter dated expiries of EUR and CHF-denominated Single Stock Dividend Futures, i.e. <13 months to expiration, are reduced by 50 percent.

In this context, the following provisions will be amended as outlined in the attachment:

  • Numbers 3.1 and 3.3 of the Price List

For Single Stock Futures, the fee for delivery resulting from Futures will be reduced from EUR 0.15 to EUR 0.10 (and from CHF 0.23 to CHF 0.15, respectively) per contract. Furthermore, a maximum fee of EUR 450 (USD 690, CHF 690, GBP 360, respectively) for delivery resulting from Futures and cash settlement will be introduced.

In this context, the following provisions will be amended as outlined in the attachment:

  • Numbers 3.4 and 3.9 of the Price List

The described pricing measures will become effective as of 2 November 2020.

As of the effective date, the full version of the amended Price List will be available for download on the Eurex Clearing website www.eurexclearing.com under the following link:

Rules and Regs > Rules and Regulations > Price List

The changes and amendments to the legal framework of Eurex Clearing AG published by this circular are deemed accepted by each affected contractual party of Eurex Clearing AG, unless the respective contractual party objects by written notice to Eurex Clearing AG within the first ten (10) Business Days after publication. Any ordinary right of Eurex Clearing AG to terminate the respective contract (including a Clearing Agreement, if applicable) shall remain unaffected.

Unless the context requires otherwise, terms used and not otherwise defined in this circular shall have the meaning ascribed to them in the Clearing Conditions or FCM Clearing Conditions of Eurex Clearing AG, as applicable.
 

Attachment: 

  • Amended sections of the Price List of Eurex Clearing AG


Further information

Recipients:

All Clearing Members, Basic Clearing Members, Disclosed Direct Clients of Eurex Clearing AG, vendors, all FCM Clearing Members and other affected contractual parties

Target groups:

Front Office/Trading, Middle + Backoffice, IT/System Administration, Auditing/Security Coordination

Related circular:

Eurex circular 078/20

Contact:

Eurex Pricing, eurex.pricing@eurex.com

Web:

www.eurexclearing.com

Authorised by:

Matthias Graulich