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Eurex
1. Introduction
The Management Board of Eurex Deutschland has decided to reduce the smallest price change (tick) in outright contracts of EURO STOXX® 50 (FESX) Index Futures with effect from 21 June 2021.
The new tick will be 0.5 index points (currently: 1.0 index points). The tick value will be reduced from EUR 10 to EUR 5.
Start of simulation: 25 March 2021
Start of production: 21 June 2021
2. Action required
All Trading Participants of Eurex Deutschland and vendors are affected by this change.
Please note that all orders and quotes in the product FESX will not be deleted and will remain in the order book.
3. Details of the initiative
With effect from 21 June 2021, the tick size for outright contracts in EURO STOXX® 50 (FESX) will be changed. Thereby, the value of one tick will be reduced.
The following table gives an overview of the different instruments of the contracts and their ticks:
Futures tick on instrument type basis | Smallest price change (tick) | Tick value | ||||||||
Old | New | Old | New | |||||||
FESX | ||||||||||
Simple Instruments | ||||||||||
Outright contracts | 1.0 | 0.5 | EUR 10 | EUR 5 | ||||||
Complex instruments | ||||||||||
Standardised futures strategies (Futures calendar spreads) | 0.25 | 0.25 | EUR 2.50 | EUR 2.50 |
Technical distribution of the product and instrument configuration
The new price granularity is valid for all outright instruments and will be distributed via the instrument snapshot in the Reference Data Interface (RDI). The instrument attributes are as follows:
Attributes | FESX | |
InstrumentPricePrecision | 2 | |
MinPriceIncrement | 0.01 | |
MinPriceIncrementAmount | 0.1 |
The valid limit order price granularity for different instrument types and trade types can be found in the product snapshot in the field “TickRules”.
Attachment:
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: | Tobias Ehinger, Equity & Index Product Design, tel. +49-69-211-1 23 13, tobias.ehinger@eurex.com | |
Web: | www.eurex.com | |
Authorised by: | Randolf Roth |
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XEUR
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