Index Total Return Futures: Introduction of Index Total Return Futures on EURO STOXX Banks and EURO STOXX Select Dividend 30

1.  Introduction

Effective 29 March 2021, Eurex Clearing will offer clearing services for Index Total Return Futures on the EURO STOXX^® Banks (TESB) and EURO STOXX^® Select Dividend 30 (TEDV).

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

• Amendment of the Clearing Conditions of Eurex Clearing AG (Clearing Conditions) regarding the inclusion of EURO STOXX^® Banks Index Total Return Futures and EURO STOXX^® Select Dividend 30 Index Total Return Futures, 
• Amendments of the Price List of Eurex Clearing AG (Price List) regarding the inclusion of EURO STOXX^® Banks Index Total Return Futures and EURO STOXX^® Select Dividend 30 Index Total Return Futures.

The following provisions will be amended as outlined in the attachments:

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

Please refer to Eurex circular 021/21 for detailed trading-related information as well as the amendments of the relevant Rules and Regulations of Eurex Deutschland.

Simulation start: 24 February 2021
Production start: 29 March 2021

2.  Required action

The new products will be traded and cleared similar to existing equity index derivatives, hence there is no required action for the participants. The new products are available in simulation for testing.

3.  Details of the initiative

A. Product overview

The product overview is part of Attachment 1.

B. Contract specifications

For the detailed contract specifications, please refer to Eurex circular 021/21. 

C. Product group

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

D. Transaction fees

The fees for the new Index Total Return Futures can be retrieved from the updated sections of the Price List, as outlined in Attachment 3.

E. Simulation

Since 24 February 2021, the new products have been available in the Eurex simulation environment for testing purposes. For further information, please refer to the simulation calendar on the Eurex Clearing website www.eurex.com/ec-en/ 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 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