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Sep 03, 2009

Eurex Clearing

Extension of Product Scope by selected British Stocks: Information on Stamp Duty Reserve Tax

The introduction of physically deliverable British equities as underlying instruments for options contracts will take place at January 18, 2010. These derivative products will be traded on Eurex Deutschland and Eurex Zürich (Eurex Exchanges) or entered in the Eurex® system by participants as bilateral transactions. Settlement will take place in Euroclear UK & Ireland.

Due to changes to the attachments published with Eurex Clearing circular 038/09, we attach an updated version of these to the present circular and kindly ask you to disregard Eurex Clearing circular 038/09 for your further work.

The “Information Memorandum Stamp Duty Reserve Tax” (attachment 1) describes arrangements which Eurex Members can undertake to obtain tax relief from the British Stamp Duty Reserve Tax (SDRT) in connection with the clearing and settlement of British equities as underlyings for options contracts introduced at Eurex. This document is not to be considered as tax advice; compliance with tax rules is the members’ sole responsibility.

To obtain Stamp Duty Reserve Tax relief, a Eurex member must be recognised as an options intermediary by the Eurex Exchanges in accordance with arrangements approved by the British tax authorities.

Please find enclosed the relevant application form for recognition as an options intermediary (attachment 4) which we kindly ask you to complete and send back to Eurex Clearing.

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. 

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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