Equity and ETF Derivatives: Introduction of Equity Options, Single Stock Futures and Single Stock Dividend Futures, ETF Options and ETF Futures, Termination of clearing for Equity-, Equity Index- and FX Derivatives

1.  Introduction

This circular contains information with respect to Eurex Clearing AG’s service offering and corresponding amendments to the Clearing Conditions of Eurex Clearing AG (Clearing Conditions) and Price List of Eurex Clearing AG (Price List) regarding the following topics:

• Offering of Clearing for 29 Equity Options
• Offering of Clearing for 4 Single Stock Futures
• Offering of Clearing for 10 Single Stock Dividend Futures
• Offering of Clearing for 6 ETF Options
• Offering of Clearing for 1 ETF Future
• Termination of Clearing for 11 Equity Index Derivatives, 4 Single Stock Options, 8 Single Stock Futures, 3 Equity Total Return Futures, 58 Stock Tracking Futures, 12 FX Rolling Spot Futures (pursuant to Attachment 1).

The amendments will become effective as of 30 March 2026.

Please refer to Eurex Circular 016/26 for detailed trading-related information and the related amendments to the Rules and Regulations of Eurex Deutschland.

2.  Required action

A. In case the products might be relevant for U.S. Tax withholding obligations and reporting requirements out of sec.871(m) IRC Derivatives transactions:

Clearing Members have to ensure their reporting obligations towards Eurex Clearing AG (Eurex Clearing) for section 871(m) IRC derivatives transactions and need to be documented with a valid W8-IMY U.S. form confirming the status as “Qualified Intermediary (QI)” and assuming primary withholding responsibilities and/or “Qualified Derivatives Dealer (QDD)” assuming primary withholding responsibilities in front of Eurex Clearing. Clearing Members not providing such documentation are unable to clear potentially in-scope products for sec.871(m) IRC derivatives transactions.

Further, the Clearing Members clearing derivatives transactions in products potentially in-scope for sec.871(m) IRC need to provide Eurex Clearing with the reportable data in-scope for sec.871(m) IRC derivatives transactions covering the respective tax reporting period. Please refer to Eurex Clearing Circular 046/24 published on 11 July 2024 and the information in the Clearing Conditions, Chapter II, Part 1 Number 1.7 para.(1) to (6).

Moreover, we would like to emphasize that Clearing Members remain responsible, pursuant to the Clearing Conditions, for ensuring that all U.S. tax withholding requirements and reporting obligations related to their trading client/s under sec.871(m) IRC are duly fulfilled, when applicable.

For further information, please refer to the Eurex Clearing Circulars 046/24 and 009/26.

B. In case the products might not be relevant for U.S. Tax withholding obligations and reporting requirements out of sec.871(m) IRC Derivatives transactions:

No action on Clearing Member side is required.

3. Details of the initiative

A. Product overview

Please refer to Attachment 1 for the overview of the new products.

B. Contract specifications

For the detailed contract specifications, please refer to Eurex Circular 016/26.

C. Product group

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

D. Transaction fees

The transaction fees for the new products can be retrieved from the updated section 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 following link: Services > Risk parameters

F. Amendments to the legal framework of Eurex Clearing

To reflect this decision in the legal framework of Eurex Clearing, the following provisions will be amended as outlined in Attachments 2 and 3:

• Chapter II Part 2 Numbers 2.12, 2.26, Chapter II Part 3 Number 3.4.3 of the Clearing Conditions of Eurex Clearing AG (Attachment 2)
• Numbers 3, 3.1, 3.3, 3.4, 3.7, 3.12, 3.14 of the Price List of Eurex Clearing AG (Attachment 3)

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 & 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 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.

Attachments:

• 1 – Product overview and Product Group
• 2 – Amended sections of the Clearing Conditions of Eurex Clearing AG
• 3 – Amended sections of the Price List of Eurex Clearing AG

Further information