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May 06, 2015

Eurex

EUR Secured Funding Futures contract: Modification of Market-Making scheme

Effective from 11 May 2015, the following EUR Secured Funding Futures Market-Making scheme will replace the former scheme communicated with Eurex circular 261/14:

From 11 May 2015 until 31 December 2016, registered Market Makers fulfilling their quote obligations will be granted a 100 percent fee rebate in EUR Secured Funding Futures. Furthermore, 50 percent of the monthly net revenues in EUR Secured Funding Futures will be distributed to the five leading Market Makers according to their trading share.

The five leading Market Makers according to their trading share who have fulfilled their quoting obli­gations for four out of six months between 11 May 2015 and 31 October 2015 will qualify for an exten­sion of the scheme until 31 December 2017 whereby the period between 11 May 2015 and 31 May 2015 counts as a full month. Upon fulfilling their quote obligations for the period between 1 January 2017 until 31 December 2017, those qualifying Market Makers would thereby be granted a 100 percent fee rebate as well as a 30 percent monthly net revenue share in EUR Secured Funding Futures.

Furthermore, the quote obligations will now be applicable for 60 percent of the core trading hours between  08:00 CET and 17:00 CET.

Finally, Market Makers are now permitted to increase the quoted bid-offer for calendar spreads by 0.01 percent.

For details on the new Market-Making scheme, please refer to the attachment. Currently registered Market Makers do not have to re-apply.

Market Status

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Please find further information about incident handling in the Emergency Playbook published on the Eurex webpage under Support --> Emergencies and safeguards. Detailed information about incident communication, market re-opening procedures and best practices for order and trade reconciliation can be found in the chapters 4.2, 4.3 and 4.5, respectively. Concrete information for the respective incident will be published during the incident via newsboard message. 

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