08 Jan 2021

Eurex

Equity derivatives: A. Introduction of Single Stock Futures; B. Withdrawal of admission of Single Stock Futures and Equity Options

Eurex Circular 001/21 Equity derivatives: A. Introduction of Single Stock Futures; B. Withdrawal of admission of Single Stock Futures and Equity Options


1.  Introduction

Due to previous corporate actions, the Management Board of Eurex Deutschland took the following decisions with effect from 18 January 2021:

A.    Introduction of 11 Single Stock Futures pursuant to Annex A and D of Attachment 2,

B.    Withdrawal of admission of 21 Single Stock Futures pursuant to Annex A, D and G, and withdrawal of admission of four equity options pursuant to Annex B of Attachment 2.

For implementation of the above decisions, the Contract Specifications for Futures Contracts and Options Contracts at Eurex Deutschland (Contract Specifications) will be amended with effect from 18 January 2021, as outlined in Attachment 2.

Production start: 18 January 2021

2.  Action required

There is no action required for participation.

3.  Details of the initiative

Please refer to the table in Attachment 1 for product details regarding A.

A.    Contract specifications and product parameters

In general, contract specifications for the new Single Stock 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. For the detailed Contract Specifications, please refer to Attachment 2. 

As of the start of trading of the new products, the full version of the Contract Specifications for Futures Contracts and Options Contracts at Eurex Deutschland will be published on the Eurex website www.eurex.com under the following link:

Trade > Rules & Regs > Eurex Rules and Regulations > Contract Specifications

B.    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 > Data > Trading files > T7 Entry Service parameters

C.    Risk parameters

As of start of trading, risk parameters of the new products will be published on the Eurex website under the link: 

Trade > Data > Clearing files > Risk parameters and initial margins

and on the Eurex Clearing website www.eurex.com/ec-en/ under the following path:

Clear > Services > Risk parameters

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

D.    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). For detailed information, please refer to the Eurex website under the following links:  

Trade > Markets > Equity > Single Stock Futures
Trade > Rules & Regs > Excessive System Usage Fee
Trade > Rules & Regs > Order to Trade Ratio

E.    Mistrade ranges 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 following links:

Trade > Markets > Equity > Single Stock Futures
Trade > Markets > Product Overview > Contract Specs

F.    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:

Trade > Rules & Regs > Excessive System Usage Fee

G.    Transaction fees

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

H.    Vendor codes

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

Trade > Markets > Product Overview > Vendor Codes


Attachments: 

  1. Introduction of Single Stock Futures; Withdrawal of admission of Single Stock Futures and Equity Options: Product details: Tables
  2. Updated sections of the Contract Specifications for Futures Contracts and Options Contracts at Eurex Deutschland

Further information

Recipients:

All Trading Participants of Eurex Deutschland 

Target groups:

Front Office/Trading, Middle + Backoffice, IT/System Administration, Auditing/Security Coordination

Contact:

Derivatives Trading Operations, Tel. +49-69-211-1 12 10, eurextrading@eurex.com

Web:

www.eurex.com

Authorised by:

Randolf Roth


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