Eurex Clearing
1. Introduction
Effective 19 April 2021, Eurex Clearing will offer clearing services for Micro Futures on DAX®, EURO STOXX 50® and SMI® indices.
In this context, the following measures will apply effective 19 April 2021:
The following provisions will be amended as outlined in the attachments:
Please refer to Eurex circular 025/21 for detailed trading-related information as well as the amendments of the relevant Rules and Regulations of Eurex Deutschland.
Simulation start: 25 March 2021
Production start: 19 April 2021
2. Required action
There is no required action for the participants.
3. Details of the initiative
A. Product overview
Micro Futures on the DAX®, EURO STOXX 50® and SMI® indices differ from the existing Benchmark Index futures in terms of contract size only. The value of one index point is 1 euro for Micro Futures on the DAX® and EURO STOXX 50® indices and 1 Swiss franc for Micro Futures on the SMI® index.
B. Contract specifications
For the detailed contract specifications, please refer to Eurex circular 025/21.
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
Starting 25 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 under the following link:
Eurex Clearing 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:
Services > Risk parameters
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:
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
Further information
Recipients: | All Clearing Members, Basic Clearing Members, Disclosed Direct Clients of Eurex Clearing AG and vendors | |
Target groups: | Front Office/Trading, Middle + Backoffice, IT/System Administration, Auditing/Security Coordination | |
Contact: | client.services@eurex.com | |
Related circular: | Eurex circular 025/21 | |
Web: | ||
Authorised by: | Jens Janka |
