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Aug 18, 2009

Eurex

Euro-BTP Futures: Details for the Delivery Process of Futures Contracts on long-term Italian Government Bonds

The circular describes the delivery process of long-term Italian government bonds in Euro-BTP Futures and the involved necessary preparations. In particular, we would like to point out that in case of physical delivery income payments on Italian government bonds are presently subject to a withholding tax in the country of origin. Members who wish to avoid deduction of Italian withholding tax for income payments must instruct Clearstream Banking Luxemburg (CBL) accordingly, if they hold the securities on behalf of final beneficial owners, including themselves if applicable, that are eligible for tax exemption according to the Italian legislation.

Trading in Euro-BTP Futures will start on September 14, 2009.

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