Amendment of the Product Specific Supplement for FTSE® 100 Index Total Return Futures

1.   Introduction

The Executive Boards of Eurex Frankfurt AG and Eurex Clearing AG took the following decision, with effect from 1 June 2023:

• Amendment of the Product Specific Supplement (PSS) for FTSE^® 100 Index Total Return Futures by introducing a new scheme for Liquidity Providers (TTUK 3) 

This circular contains all information on the new TTUK 3 scheme.

Implementation date in production: 1 June 2023

The Product Specific Supplement shall be amended with effect from 1 June 2023 according to Attachment 2 to further substantiate the granting of incentives to the benefit of Liquidity Providers. The amendments will be deemed to have been approved if the Liquidity Provider does not lodge objections with Eurex Frankfurt AG and Eurex Clearing AG within two (2) weeks of notification of the amendment according to clause 4 (2) of the Liquidity Provider Agreement.

2.   Required action

Trading Participants are recommended to pay close attention to the information included in the Attachments and analyze the potential impact in their own technical systems. Therefore, it might be necessary for Trading Participants to update their internal processes and technical interfaces to adapt for this change.

3.   Details 

The additional scheme (TTUK 3) is aimed at providing more choice to Trading Participants acting as Liquidity Providers and improving the overall quality of the prices in the order book. 

The TTUK 3 scheme has smaller sizes with tighter spreads than the existing TTUK 2 scheme. The same required coverage (67 percent) and same rebate will be granted (100 percent) as in the case of the TTUK 2 scheme.

For further details, please refer to the tables in Attachment 1. 

Attachments:

1. Regarding 3. Details: Tables
2. Amended “Product Specific Supplement for Total Return Futures on the FTSE^® 100 Index”

Further information