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Jul 26, 2017

Eurex

Futures on the STOXX® Europe 600 Index: Reduction of tick size for standardised futures strategies

The Management Board of Eurex Deutschland and the Executive Board of Eurex Zürich AG decided to reduce the tick size for standardised futures strategies (futures calendar spreads) for the STOXX® Europe 600 Future (FXXP):

Effective 16 August 2017, the tick size in futures calendar spreads of the product FXXP will be changed from 0.1 to 0.02. Accordingly, the tick value will be reduced from EUR 5 to EUR 1 and the displayed decimal places will increase from one to two. In the outright contracts (simple instruments), the minimum price change will remain unchanged at 0.1.

At the same time, combinations of best price orders and quotes stored in different order books (“synthetic path“) and the price determined from such a combination of order book pages (“synthetic price“) as well as path priorities for STOXX® Europe 600 futures will no longer be permitted.

The new product parameters are available for testing in the Eurex simulation environment. The test product is the future on the STOXX® Europe Mid 200 Index (FMCP).

The updated sections of the Contract Specifications for Futures Contracts and Options Contracts at Eurex Deutschland and Eurex Zürich are attached to this circular.

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