MSCI Index Derivatives: Capacity Group Reassignments for Futures on MSCI Vietnam and MSCI World Consumer Discretionary

1. Introduction

Effective 16 November 2026, the ‘capacity group’ for some MSCI Index derivatives products will be reassigned.

Please refer to Eurex Circular 074/26 for detailed trading-related information. 

2. Required action

Clearing Members are advised to review the applicable product assignments.

3. Details 

Effective 16 November 2026, the following products will no longer be available for U.S. direct access and will be foreign security futures subject to the joint jurisdiction of the Commodity Futures Trading Commission and the Securities and Exchange Commission.

MSCI Vietnam Index Futures:

Based on the information and product characteristics available at the time of assessment, Eurex Clearing AG currently understands that the MSCI Vietnam Index Futures (FMVN) do not give rise to specific withholding or reporting obligations for Eurex Clearing AG under Section 871(m) of the U.S. Internal Revenue Code.

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

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

MSCI World Consumer Discretionary Futures:

Based on the current product assessment, the product is considered potentially in scope of Section 871(m) IRC. Accordingly, the existing Eurex Clearing requirements applicable to products potentially in scope of Section 871(m) continue to apply.

Clearing Members should therefore consider the applicable documentation and reporting requirements, including the relevant QI/QDD documentation and reporting requirements towards Eurex Clearing AG, as further specified in the applicable Eurex Clearing documentation, including Eurex Clearing Circular 046/2024 and the relevant provisions of the Clearing Conditions.

The applicable requirements include the documentation described in the existing ECAG framework regarding W-8IMY and the relevant QI/QDD status and the provision of reportable data to Eurex Clearing AG where applicable.

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

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

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.
 

Further information