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Apr 17, 2014

Eurex

Reduction of the settlement cycle for Finnish, British and Irish equity options and corresponding Low Exercise Price Options (LEPOs), and of futures contracts, options contracts and Low Exercise Price Options on Exchange Traded Commodities (ETCs) from T+4 to T+3; Update on migration to settlement cycle of T+2

In line with the decision of Eurex Clearing AG, the Management Board of Eurex Deutschland and the Executive Board of Eurex Zürich AG have decided to reduce the settlement cycle for Finnish, British and Irish equity options and the corresponding Low Exercise Price Options, and of futures contracts, options contracts and the corresponding Low Exercise Price Options on Exchange Traded Commodities securities from four business days after the exercise day (T+4) to three business days after the exercise day (T+3) effective as of 15 May 2014. With the reduction of the settlement cycle to T+3, it will be harmonised with the settlement cycle of T+3 of the underlyings in the home market.


Furthermore, Eurex Clearing is planning to migrate to T+2 settlement for derivatives contracts that include delivery of the shares in view of the forthcoming Central Securities Depository Regulation (CSDR) on 6 October 2014, since the majority of trading venues in the European Union will migrate to T+2 settlement on this day. Further details will be published in another Eurex circular.


Please refer to the attachment of this circular for the updated sections of the Contract Specifications for Futures Contracts and Options Contracts at Eurex Deutschland and Eurex Zürich.

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