A member of
Eurex
1. Introduction
The European Corporate Actions Committee (ECAC) has defined guidelines for the treatment of corporate actions for derivatives when dividend payments are postponed or cancelled due to the ongoing pandemic crisis. The exchanges that are part of the ECAC are: Borsa Italiana, Eurex Deutschland, Euronext, ICE Futures Europe, MEFF (BME Group) and Nasdaq Stockholm.
This circular contains information regarding the dividend treatments for derivatives products at Eurex Deutschland and replaces Eurex circular 035/20.
2. Required action
No action is required for the participants.
3. Details of the initiative
Due to the ongoing pandemic crisis, clarity is crucial with regards to whether derivatives contracts will be adjusted for the payment of dividends that are postponed or cancelled.
Eurex Deutschland would like to inform Market Participants that the European Corporate Actions Committee (ECAC) has reconvened and defined further guidelines for determining whether the announcement of dividends will result in an adjustment on derivatives contracts in the current circumstances:
It is envisaged that the requirement for these updated guidelines is temporary and therefore this dividend treatment for derivative contracts at Eurex Deutschland is expected to be reviewed at the end of 2021 at the latest.
The guidelines set out herein are provided for information purposes only and do not create or change the rights or obligations an exchange participant or counterparty may have under the terms of a contract or under applicable law. The rules of Eurex Deutschland alone shall be binding and decisive for the treatment of any dividends for a certain contract.
Further information
Recipients: | All Trading Participants of Eurex Deutschland and Vendors | |
Target groups: | Front Office/Trading, Middle + Backoffice, IT/System Administration, Auditing/Security Coordination | |
Contact: | Derivatives Trading Operations, eurextrading@eurex.com, tel. +49-69-211-1 12 10, client.services@eurex.com | |
Related circular: | Eurex Circular 035/20 (will be replaced by this Eurex circular 011/21) | |
Web: | www.eurex.com | |
Authorised by: | Randolf Roth |
Market Status ⓘ
XEUR
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