05 Nov 2020

Eurex

Extension of trading hours for additional selected benchmark futures

Eurex Circular 084/20 Extension of trading hours for additional selected benchmark futures


1. Introduction

Eurex Deutschland is planning to extend its trading hours for additional selected Equity and Volatility Index Futures and Fixed Income Futures as of 7 December 2020.

This circular is to confirm the trading hours and the products which are in scope for the extended trading hours. 

In addition, as announced with Eurex circular 088/18 on 15 November 2018, the amendments made for the initial extension of trading hours on 10 December 2018 for selected equity index and fixed income futures will be applicable to the trading hours extension of additional selected benchmark futures as of 7 December 2020. 

Production start: 7 December 2020

2. Required action

Liquidity Providers (LPs) in the additional products should setup their quotation parameters accordingly.

3. Details

The following products are in scope for the extended trading hours as of 7 December 2020:

Equity Index Futures:

  • FESB – EURO STOXX® Banks Futures 
  • FXXP – STOXX® Europe 600 Index Futures 
  • FVS – VSTOXX® Futures 

 Fixed Income Futures:

  • FOAT – French Euro-OAT Futures (10 year) 

With the extension of trading hours for additional selected benchmark futures planned as of 7 December 2020, the trading start for selected Equity Index and Fixed Income Futures moves forward to 01:00 CET/02:00 CEST (08:00 Singapore time). Trading will start with a Pre-Trading phase of ten minutes, followed by an Opening Auction, before Continuous Trading will start at 01:15 CET/02:15 CEST (08:15 Singapore time). There will be no additional intraday auction during the European morning hours.

In addition, end of trading for the selected fixed income future (FOAT) will change from 19:00 CET to 22:00 CET.

End of trading will remain unchanged for all equity and volatility index products.

Please refer to the table in attachment 1 for an overview of the extension of Equity Index Products trading hours for covered Futures, and for the harmonisation of Fixed Income Futures trading hours for covered Futures.

The updated sections to the Contract Specifications for Futures Contracts and Options Contracts at Eurex Deutschland (Contract Specifications) are contained in attachment 2 to this circular. The complete updated Contract Specifications will be published on the Eurex website www.eurex.com as of the effective date 7 December 2020 under the following link:

Rules & Regs > Eurex Rules & Regulations > Contract Specifications

4.  Liquidity Provider Incentive Schemes 

To build the liquidity during the extended trading hours of the additional products in scope, with effect from 7 December 2020, Liquidity Provider Schemes, with respective revenue and rebate incentives, will be available for Liquidity Providers who fulfill the obligations in the Equity and Volatility Index products (FESB, FXXP, FVS) and/or in the Fixed Income products (FOAT) during the extended trading hours.

For details please refer to the attachments 3 and 4 to this circular.

5.  Communication and onboarding support

Please note: Additional information will be communicated via Eurex Newsflashes.

You can also contact your Key Account Management team for assistance. 

All information about the trading hours extension can also be found on the Eurex website www.eurex.com under the following link:

Trade > Trading hours > Trading Hours Extension
 

Attachments:

  • 1. Details of the initiative: Tables
  • 2. Updated sections of the Contract Specifications for Futures Contracts and Options Contracts at Eurex Deutschland 
  • 3. Product Specific Supplement for Equity Index-Futures on EURO STOXX® Banks and STOXX® Europe 600 Index and VSTOXX® Futures during Asian trading hours
  • 4. Product Specific Supplement for French Euro-OAT Futures (FOAT) during Asian and US trading hours


Further information

Recipients:

All Trading Participants of Eurex Deutschland and Vendors

Target groups:

Front Office/Trading, Middle + Backoffice, IT/System Administration

Contact:

client.services@eurex.com or Your Key Account Manager Trading

Related circular(s):

Eurex circulars: 023/18, 036/18, 052/18, 066/18, 075/18, 088/18

Web:

Trade > Trading hours > Trading Hours Extension

Authorised by:

Michael Peters


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