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18 May 2022

Eurex Clearing

Equity index derivatives: Introduction of EURO STOXX® Banks Index Dividend Options

Eurex Clearing Circular 036/22 Equity index derivatives: Introduction of EURO STOXX® Banks Index Dividend Options

1. Introduction

Effective 13 June 2022, Eurex Clearing AG will offer clearing services for EURO STOXX® Banks Index Dividend Options introduced at Eurex Deutschland. 

In this context, the following measures will apply effective 13 June 2022:

  • Amendments to the Clearing Conditions of Eurex Clearing AG (Clearing Conditions) regarding the inclusion of EURO STOXX® Banks Index Dividend Options, 
  • Amendments to the Price List of Eurex Clearing AG (Price List) regarding the inclusion of EURO STOXX® Banks Index Dividend Options.

Please refer to Eurex circular 054/22 for detailed trading-related information, including fee classification and the related amendments to the Rules and Regulations of Eurex Deutschland.

Production start: 13 June 2022

2. Required action

There is no required action for the participants.

3. Details 

A.    Product overview

For the product overview please refer to the table in Attachment 1.

B.    Contract specifications

For the detailed contract specifications, please refer to Eurex circular 054/22.

C.    Product group

Please refer to Attachment 1 for the product group of the new products.

D.    Transaction fees

The fees for the EURO STOXX® Banks Index Dividend Options can be retrieved from the updated sections of the Price List, as outlined in Attachment 3.

E.    Risk parameters

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

Services > Risk parameters

F.  Amendments to the legal framework of Eurex Clearing AG

In this context, the following provisions will be amended as outlined in Attachments 2 and 3: 

  • Chapter II Part 3 Number 3.8.3, 3.8.5 of the Clearing Conditions 
  • Numbers 3.1, 3.3, 3.7 of the Price List

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

Rules & Regs > Eurex Clearing Rules and Regulations

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.

Attachments: 

  1. Tables: 3. Details: regarding A. Product overview, C. Product group
  2. Updated sections of the Clearing Conditions of Eurex Clearing AG
  3. Updated 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, all FCM Clearing Members, vendors and other affected contractual parties

Target groups:

Front Office/Trading, Middle + Backoffice

Contact:

client.services@eurex.com

Related circular:

Eurex circular 054/22

Web:

www.eurex.com/ec-en/

Authorized by:

Jens Janka