29 Sep 2020

Eurex Exchange

Equity derivatives: Introduction of two Single Stock Futures, six Equity Options and one Single Stock Dividend Future

Eurex Circular 074/20


1. Introduction

Due to previous corporate actions, the Management Board of Eurex Deutschland took the following decision with effect from 1 October 2020:

  • Introduction of two Single Stock Futures pursuant to Annex A of Attachment 2, six Equity Options and one Single Stock Dividend Future pursuant to Annex D of Attachment 2

Production start: 1 October 2020

2. Required action

There is no required action for participation.

3. Details

A. Product overview

Please refer to the table in Attachment 1 for the products that will be introduced.

B.  Contract specifications and product parameters

In general, contract specifications for the new Single Stock Futures, Equity Options and Single Stock Dividend Futures are in line with the existing contracts with the relevant Eurex group ID, also in terms of trading hours and trading calendar, last trading day, settlement and determination of the daily and final settlement prices.

As of the introduction date of the new products, the updated Annexes A and D of the Contract Specifications for Futures Contracts and Options Contracts at Eurex Deutschland will be published on the Eurex website www.eurexchange.com under the following link:

Rules & Reg’s > Rules and Regulations > Contract specifications

C.  Admission to the Eurex T7 Entry Services (TES)

The new products will be admitted to the Eurex T7 Entry Services (TES). 

You can find the minimum block trade sizes on product level in the attached Contract Specifications in Attachment 2. 

An overview of the Eurex T7 Entry Services available for the products as well as detailed information on single product basis with regard to availability, possibility of utilisation and minimum entry size for the various Eurex T7 Entry Services is available on the Eurex website under the link:

Trade > Eurex T7 Entry Services > Eurex 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: 

Data > Clearing files > Risk parameters and initial margins

and on the Eurex Clearing website www.eurexclearing.com under the following path:

Risk management > Risk parameters

You will also find an updated list with details regarding Prisma-eligible Eurex products under this path. 

E.  Excessive System Usage Fee and Order to Trade Ratio

The Excessive System Usage Fee and the Order to Trade Ratio for the new products are determined in line with the existing products (Single Stock Futures, Equity Options and Single Stock Dividend Futures). For detailed information, please refer to the Eurex website under the following links:

Markets > Product Overview
Rules & Reg‘s > Excessive System Usage Fee
Rules & Reg‘s > Order to Trade Ratio

F.  Mistrade parameters and position limits

Mistrade ranges and position limits for the new products will be published as of start of trading on the Eurex website under the links:

Markets > Product Overview

G.  Transaction limits

The same values apply as for existing products with the relevant Eurex group ID. For details, please refer to the Eurex website under the link:

Rules & Reg‘s > Excessive System Usage Fee

H.  Transaction fees

The same transaction fees apply as for the corresponding existing products.

I.  Vendor codes

At start of trading, vendor codes for the new products will be published on the Eurex website under the link:

Data > Trading files > Vendor product codes

J.  Liquidity Provisioning

Liquidity is provided in accordance with the Liquidity Provider Schemes for Single Stock Futures and Equity Options. Detailed information can be found on the Eurex website under the following link:

Trade > Market-Making and Liquidity provisioning > Product Specific Supplements to the LPA

Attachments:

  1. Introduction of two Single Stock Futures, six Equity Options and one Single Stock Dividend Future: Product overview: Tables
  2. Updated sections A and D of the Contract Specifications for Futures Contracts and Options Contracts at Eurex Deutschland

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, T +49-69-211-1 12 10

Web:

www.eurexchange.com

Authorised by:

Michael Peters

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