Eurex
1. Introduction
With effect from 30 September 2022, tradability of the following products will be withdrawn for U.S. Eurex Participants:
Product name | Product ID | Currency | Previous | New | ||||||||
MSCI Switzerland Index Futures (USD) | FMSZ | USD | Cash USD - CFTC | Cash USD | ||||||||
MSCI Switzerland Index Futures (CHF) | FMST | CHF | Cash/Physical CHF - CFTC | Cash/Physical CHF |
2. Required action
All Trading Participants that have open positions in MSCI Switzerland Index Futures must comply with applicable Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) regulation once Futures contracts transition to Foreign Security Futures Products (FSFPs).
3. Details
The above two MSCI Switzerland Index Futures will transition from non-narrow-based security index futures to narrow-based security index futures effective at the close of trading of 13 October 2022. Accordingly, the CFTC will be withdrawing its non-narrow-based certification for the contracts.
After the close of trading on 13 October 2022, MSCI Switzerland Index Futures (USD) and MSCI Switzerland Index Futures (CHF) contracts will be security futures and must therefore be traded in accordance with both the U.S. securities and commodity futures laws.
Eurex Exchange notes that, in order to ensure compliance, its 30 September 2022 withdrawal of direct access tradability for U.S. Eurex Participants is in advance of the official date of the MSCI Switzerland Index's transition to a narrow-based security index.
At the end of the transition period, Eurex Exchange will be evaluating whether MSCI Switzerland Index Futures meet the eligibility requirements of the 2009 SEC Order governing FSFPs and the Commodity Exchange Act.
Eurex Exchange maintains a list of such eligible FSFPs, updated monthly, available on the Eurex website www.eurex.com under the following link:
Rules & Regs > Eurex derivatives in the U.S. > Eligible foreign security futures products under 2009 SEC Order and Commodity Exchange Act
All Trading Participants are reminded that all trading of eligible FSFPs for U.S. accounts must comply with the 2009 SEC Order, the Commodity Exchange Act, and the terms of Eurex Circular 105/21.
The multicast addresses for data distribution remain unchanged. However, the following changes have been made for the port numbers:
The corresponding new "capacity group" for MSCI Switzerland Index Futures (USD) is "Cash USD" (previously: "Cash USD - CFTC") and for MSCI Switzerland Index Futures (CHF) it is "Cash/Physical CHF" (previously: "Cash/Physical CHF - CFTC").
Further information
Recipients: | All Trading Participants of Eurex Deutschland and Vendors | |
Target groups: | Front Office/Trading, Middle + Backoffice, IT/System Administration, Auditing/Security Coordination | |
Contact: | client.services@eurex.com or Rachna Mathur, rachna.mathur@eurex.com, Equity and Index Sales America, tel. +1 212 309 93 08 | |
Related circular: | Eurex Circular 105/21 | |
Web: | www.eurex.com | |
Authorized by: | Michael Peters |
Market Status ⓘ
XEUR
The market status window is an indication regarding the current technical availability of the trading system. It indicates whether news board messages regarding current technical issues of the trading system have been published or will be published shortly.
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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