Equity Derivatives: Introduction of Japanese Single Stock Futures & Single Stock Dividend Futures

1. Introduction 

The Executive Board of Eurex Clearing AG took the following decision: 

Effective 2 November 2026 Eurex Clearing AG (Eurex Clearing) will offer clearing services for 10 Japanese Single Stock Futures (SSF) & 10 Single Stock Dividend Futures (SSDF). The new SSF will be available in both USD and JPY referencing the same underlying Japanese equities denominated in JPY. The SSDF will be offered exclusively in JPY. 

In addition, editorial amendments to the Clearing Conditions of Eurex Clearing AG regarding SSDF will be made. 

In this context, the following measures will apply: 

• Amendments to the Clearing Conditions of Eurex Clearing AG regarding the introduction of Japanese SSF & SSDF and editorial amendments as outlined in Attachment 1.  
• Amendments to the Price List of Eurex Clearing AG regarding the Japanese SSF & SSDF as outlined in Attachment 2. 

Please refer to Eurex Circular 065/26 for detailed trading-related information, including fee classification and the related amendments to the Rules and Regulations of Eurex Deutschland. 

2. Required action 

There is no action required for participation. 

Information on Section 871(m) IRC 

Based on the information and product characteristics available at the time of assessment, Eurex Clearing AG currently understands that the newly introduced Japanese Single Stock Futures and Japanese Single Stock Dividend Futures do not give rise to reporting obligations under Section 871(m) IRC. 

Eurex Clearing AG does not provide legal or tax advice and makes no representation regarding the tax treatment of any transaction. Clearing Members and their clients remain responsible for evaluating and complying with any applicable tax, withholding, documentation and reporting requirements under the laws of the jurisdictions relevant to them. 

The assessment set out above reflects the current understanding of Eurex Clearing AG and may change in the future due to regulatory developments, amendments to applicable law, changes in product characteristics, or other relevant circumstances.

3. Details of the initiative 

A. Product overview

Please refer to Attachment 3 for the product overview of the new products. 

B. Contract specifications 

For the detailed contract specifications, please refer to Eurex Circular 065/26.

C. Product group

Please refer to Attachment 3 for the product overview of the new products. 

D. Transaction fees 

Fees for the new products can be retrieved from the updated sections of the Price List, as outlined in Attachment 2. 

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 under the following link: Risk parameters and initial margins.

F. Amendments to the legal framework of Eurex Clearing AG 

To reflect this decision in the legal framework of Eurex Clearing AG, the following provisions will be amended as outlined in Attachment 1 and 2: 

• Chapter II Part 2 Number 2.7.2, 2.14.2 of the Clearing Conditions of Eurex Clearing AG (Attachment 1) 
• Numbers 3.1, 3.3, 3.4 of the Price List of Eurex Clearing AG (Attachment 2) 

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: 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 – Amended Sections of the Clearing Conditions of Eurex Clearing AG 
• 2 – Amended Sections of the Price List of Eurex Clearing AG 
• 3 – Japanese SSF & SSDF Product Overview & Product Group

Further information