28 Jan 2021

Eurex

EURO STOXX® 50 Index Futures: Change of the smallest price change (tick) for outright futures

Eurex Circular 007/21 EURO STOXX® 50 Index Futures: Change of the smallest price change (tick) for outright futures


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
(unchanged)

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: 

  • Updated sections 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:

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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