Equity Index Derivatives: Introduction of Total Return Futures, Declared Dividend Futures, Futures and Options on FTSE 100 Index

1.  Introduction

Effective 29 March 2021, Eurex Clearing will offer clearing services for:

• Introduction of FTSE^® 100 Index Total Return Futures
• Introduction of FTSE^® 100 Declared Dividend Index Futures
• Introduction of FTSE^® 100 Index Futures
• Introduction of FTSE^® 100 Index Options

In this context, the following measures will apply effective 29 March 2021:

• Amendment of the Clearing Conditions of Eurex Clearing AG (Clearing Conditions) and the Price List of Eurex Clearing AG (Price List) regarding the inclusion of: 

-  FTSE^® 100 Index Total Return Futures
-  FTSE^® 100 Declared Dividend Index Futures
-  FTSE^® 100 Index Futures
-  FTSE^® 100 Index Options

The following provisions will be amended as outlined in the Attachments 2 and 3:

• Chapter 2 Part 2 Numbers 2.4.2, 2.9.2, 2.22.2, 2.22.3 and 3.4.3 of the Clearing Conditions
• Numbers 3.1, 3.3, 3.4, 3.7 and 3.14 of the Price List.

The simulation environment is planned to be available from 3 March 2021.

Please refer to Eurex circular 020/21 for detailed trading-related information as well as the amendments of the relevant Rules and Regulations of Eurex Deutschland.

Simulation start: 3 March 2021
Production start: 29 March 2021

2.  Required action

There is no required action for the participants.

3.  Details of the initiative

A. Product overview

The product overview is part of Attachment 1.

B. Contract specifications

Please refer to Eurex circular 020/21 for the contract specifications. 

C. Product group

Please find the product group for the new products in Attachment 1.

D. Transaction fees

The fees for the new products can be retrieved from the updated sections of the Price List, as outlined in Attachment 2.

E. Simulation

Starting 3 March 2021, the new product will be available in the Eurex simulation environment for testing purposes. For further information, please refer to the simulation calendar on the Eurex website www.eurex.com under the following link:

Clear > Support > Technology > Simulation calendar

F.  Risk parameters

Margins for the new products are calculated in Prisma. For the risk parameters of the new products, please refer to the Eurex Clearing website www.eurex.com/ec-en/ under the link:

Clear > Services > Risk parameters

G. Trading hours

Please refer to Attachment 1 for the trading hours of the new products.

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

Clear > Rules & Regs > Rules and Regulations

The 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 15 Business Days (or, in respect of amendments to the Price List, within the first 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.

Attachments

• 1 – Product overview, product group, trading hours
• 2 – Amended sections of the Clearing Conditions of Eurex Clearing AG
• 3 – Amended sections of the Price List of Eurex Clearing AG

Further information