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Mar 14, 2008

Eurex

Exchange for Physicals (EFP)- and Exchange for Swaps (EFS)- Trade-Facilities: Enhancements

In its session on March 5, 2008, the Executive Board of Eurex Clearing AG decided to enhance price validations for OTC trade entries in Fixed Income Futures. It also decided on an extension of the Exchange for Physicals (EFP) Facility for Eurex and Non-Eurex Interest Rate Futures as well as of the Exchange for Swaps (EFS) Trade Facility to include Interest Rate Swaptions. The enhancements will apply for both the Euro Fixed Income Futures and the CONF Futures.

These innovations will permit maximum flexibility in shaping Bond, Swap and Futures trades (i.e. durationweighted interest rate curve trades, interest rate spread trades) in combination with Eurex Fixed Income Futures without incurring any execution risk.

We kindly ask you to consider the modifications to the Conditions for Utilization of the OTC Trade Entry Facilities (General Conditions for Participation) which will become effective on March 31, 2008. The updated sections of the General Conditions for Participation in their valid version are attached to this circular. The complete document will be published in due time on our website under the path:

www.eurexchange.com > Market Model > Wholesale Trading

Market Status

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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. 

We strongly recommend not to take any decisions based on the indications in the market status window but to always check the production news board for comprehensive information on an incident.

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