Eurex
1. Introduction
The Management Board of Eurex Deutschland took the following decisions with effect from 23 March 2020:
For implementation of the decisions, the Contract Specifications for Futures Contracts and Options Contracts at Eurex Deutschland (Contract Specifications) will be amended in accordance with Attachment 2.
This circular contains information on the introduction of the new products and adjustment of existing products and the updated sections of the relevant Rules and Regulations of Eurex Deutschland.
Production start: 23 March 2020
2. Required action
There is no action required for participation.
3. Details of the initiative
A. Product overview
Please refer to Attachment 1 for the products that will be introduced respectively decommissioned.
B. Contract specifications and product parameters
Please find an overview in table format in Attachment 1. For the detailed Contract Specifications, please see Attachment 2.
On the introduction date, the full version of the updated Contract Specifications will be published on the Eurex website www.eurexchange.com under:
Resources > Rules and Regulations > Contract specifications
C. Admission to the Eurex T7 Entry Services (TES)
The Flexible Options facility will be available upon acceptance of the General Conditions for Participation.
An overview of the Eurex T7 Entry Services available for the products as well as detailed information on all ETF options on single product basis with regard to availability, possibility of utilisation and minimum number of tradable contracts for the various Eurex T7 Entry Services is available on the Eurex website.
CSV file “Trading Parameters” contains product parameter “Block Volume Publication Limit“ (see column “NonDisclosureLimit“) which defines the limit for volumes up to which Eurex Block Trades in the various products are published. Aforementioned information as well as the CSV file can be found on the Eurex website under the link:
Trading > Market models > Eurex T7 Entry Services > T7 Entry Service parameters
D. Risk parameters
As of start of trading, risk parameters of the new products will be published on the Eurex website under the link:
Market data > Clearing data > Risk parameters and initial margins
and on the Eurex Clearing website www.eurexclearing.com under the following path:
Risk management > Risk parameters
There, you will also find an updated list with details regarding Prisma-eligible Eurex products.
E. Mistrade parameters and position limits
Mistrade ranges and position limits for the new ETF options will be published as of start of trading on the Eurex website under the following link:
Products > Product information > Product specifications
F. Transaction limits
The same values apply as for existing products. For details, please refer to the Eurex website under the link:
Technology > Excessive System Usage Fee
G. Transaction fees
The same transaction fees apply as for the corresponding existing ETF options.
H. Vendor codes
At start of trading, vendor codes for the new products will be published on the Eurex website under the link:
Products > Vendor product codes
I. Liquidity provisioning
With effect from 1 April 2020, the new ETF options will be included in the Liquidity Provider Scheme for equity ETF options (Equity-04 Options on ETFs). Please see the attached “Product Specific Supplement to the Liquidity Provider Agreement" (LPA) for further details.
All further information can be found in the attached PSS document (Attachment 3).
Attachments:
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: | client.services@eurexchange.com |
| Web: | www.eurexchange.com |
| Authorised by: | Michael Peters |
Market Status ⓘ
XEUR
The market status window is an indication regarding the current technical availability of the trading system. It indicates whether news board messages regarding current technical issues of the trading system have been published or will be published shortly.
Please find further information about incident handling in the Emergency Playbook published on the Eurex webpage under Support --> Emergencies and safeguards. Detailed information about incident communication, market re-opening procedures and best practices for order and trade reconciliation can be found in the chapters 4.2, 4.3 and 4.5, respectively. Concrete information for the respective incident will be published during the incident via newsboard message.
We strongly recommend not to take any decisions based on the indications in the market status window but to always check the production news board for comprehensive information on an incident.
An instant update of the Market Status requires an enabled up-to date Java™ version within the browser.
