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Nov 09, 2006

Eurex

Position Limits: Changes to Exchange Rules for Eurex Deutschland and Eurex Zürich

The Exchange Council of Eurex Deutschland and the Administrative Council of Eurex Zürich decided to adjust the regulations of sections 4.7 and the following of the Exchange Rules for Eurex Deutschland and Eurex Zürich (hereinafter “Exchange Rules”) which concern position limits. The changes will come into effect on December 1, 2006.
The changes marked in the attachment are aimed at creating important space for participants’ business models, at the same time safeguarding the necessary protective effects of position limits.

The innovation comprises:

  • Extended consideration of clients’ accounts
  • Possibility to reduce positions by order of the Management Boards

Besides, the Management Boards of the Eurex Exchanges decided in their session on September 20, 2006 to introduce reporting limits for Euro Fixed-Income Futures and, at the same time, to reduce the validity period for position limits in futures contracts.
This circular explains the new process as well as the course of action in case of exceeding position limits for Euro Fixed-Income Futures as of December 1, 2006.

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