Russian Derivatives Contracts: Handling of Corporate Actions

In their session on April 4, 2007 the Management Boards of the Eurex Exchanges decided on the handling of corporate actions in derivatives contracts on Russian underlying instruments with effect from April 23, 2007.
The changes take into account specific features of corporate actions which might occur with Russian stocks.
For this reason, the specified regulations only apply to derivatives contracts on Russian Depository Receipts.

The following changes have been decided on:

Definition of an extraordinary or excessive dividend
Handling of an extraordinary or excessive dividend which was only announced after dividend distribution
Handling of an extraordinary or excessive dividend, the amount of which was still unknown at the time it was announced and which cannot be expected to be published in time before dividend distribution.

Detailed explications are given in the attached contract specifications.

Preparations for start of trading on April 23, 2007 (amendment to Eurex circular 039/07): The last tranche of Russian derivatives and the corresponding margin classes will be set up in the Eurex® system on April 18, 2007 (Wednesday) and on April 19, 2007 (Thursday) settlement prices for all tradable contract months of these products will be transmitted after end of trading.
For any questions you may have please feel free to contact Tobias Ehinger at telephone +41-588 54-23 08 or e-mail tobias.ehinger@eurexchange.com.

Russian Derivatives Contracts: Handling of Corporate Actions

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