This circular contains information with respect to the transaction and post-trade fees in selected Equity Index Futures and Options, Equity Options and Interest Rate Futures and Options, and the corresponding amendments to the Price List of Eurex Clearing AG (Price List).
The amendments will come into effect as of 1 January 2023.
2. Required action
Market participants should ensure that their internal processes and technical interfaces are updated in order to process the amended fees properly.
Important Note: The following list of changes is not exhaustive. This information reflects the most relevant changes to the ECAG Price List. For a complete list of all changes please refer to Attachment 2.
3.1. Equity Index Derivatives
Effective 1 January 2023, the transaction and post-trade fees for STOXX® Futures and Mini-DAX® Futures will be amended as in the table in Attachment 1.
Effective 1 January 2023, fee differentiation in Equity Index Options (excluding STOXX® ESG and DAX® ESG) for transactions in Order book, EnLight and TES will be discontinued. Outlined changes are as indicated in the table in Attachment 1 (non-comprehensive view).
3.2. Equity Options
Effective 1 January 2023, fee differentiation for transactions in Order book, EnLight and TES will be discontinued and streamlined to the current TES fee level as indicated in the table in Attachment 1.
3.3. Interest Rate Derivatives:
Effective 1 January 2023, the transaction and post-trade fees in Interest Rate Derivatives will be harmonized to the fee levels shown in the tables in Attachment 1.
3.4. Liquidity class changes
In addition, the product FGBS (Euro Schatz Futures) will be re-classified from liquidity class (LC) 2 to 1 and product FESB (EURO STOXX® Banks Futures) from liquidity class 1 to 2 effective as of 1 January 2023.
To reflect the amendments, the following provisions of the Price List will be amended as outlined in Attachment 2:
As of the effective date, the full version of the amended Price List will be available for download on the Eurex Clearing website www.eurex.com/ec-en/ under the following link:
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 prior to the relevant effective date(s) as stipulated in this circular. In case of an objection by the respective contractual party pursuant the preceding sentence, Eurex Clearing AG is entitled to terminate the respective contract (including a Clearing Agreement, if applicable). Instead of submitting an objection, the respective contractual party may submit in writing to Eurex Clearing AG comments to any amendments of the legal framework of Eurex Clearing AG within the first 10 Business Days after the publication of the amendments. Eurex Clearing AG shall assess whether these comments prevent the published amendments from becoming effective taking into account the interests of Eurex Clearing AG and all contractual parties.
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.
All Clearing Members, FCM Clearing Members, ISA Direct Clearing Members, Disclosed Direct Clients of Eurex Clearing AG, vendors other affected contractual parties
Front Office/Trading, Middle + Back Office, IT/System Administration, Auditing/Security Coordination
Eurex Clearing Circulars 065/20, 004/21, 005/22
Eurex Pricing, email@example.com