08 Jun 2021

Eurex

FX derivatives: Introduction of Eurex Daily USD/KRW Futures Contracts on US Dollar Futures of Korea Exchange (KRX)

Eurex Circular 050/21 FX derivatives: Introduction of Eurex Daily USD/KRW Futures Contracts on US Dollar Futures of Korea Exchange (KRX)


1.  Introduction

The Management Board of Eurex Deutschland took the following decisions with effect from 26 July 2021:

  • Introduction of Eurex Daily USD/KRW Futures Contracts on the Eurex/KRX Link
  • Introduction of a new Product Specific Supplement for Eurex Daily USD/KRW Futures Contracts on the Eurex/KRX Link
  • Further editorial change to contract specifications for Eurex Daily Futures on KOSPI 200 products

This circular contains all information on the introduction of the new product and the updated sections of the relevant Rules and Regulations of Eurex Deutschland.

Simulation start: 18 June 2021
Production start: 26 July 2021

Learn now more about the introduction of Eurex Daily USD/KRW Futures on US Dollar Futures of KRX on our dedicated initiative page under the following link: Support > Initiatives & Releases > Product Introduction. System documentation, circulars, timeline and much more information will be available there for you

...and on the go via the personalized Eurex App.

2.  Action required

There is no action required for participation.

3.  Details

A.  Product overview

Please refer to Attachment 1 for the products.

B.  Contract specifications and product parameters

For general product parameters, please find an overview in table format in Attachment 1. 

For the detailed Contract Specifications, please see Attachment 2.

The full version of the updated Contract Specifications will be published on the Eurex website as of start of trading under:

Rules & Regs > Eurex Rules & 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). Please refer to the Contract Specifications in Attachment 2 for the minimum block trade sizes on product level.

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

D.  Simulation

The Eurex Daily USD/KRW Futures Contracts on US Dollar Futures of the Korea Exchange (FCUW) will be available in the simulation environment as of 18 June 2021.

E.  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 under the following link:

Services > Risk parameters

where you will also find an updated list with details regarding Prisma-eligible Eurex products. 

F.  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 Equity Index Derivatives. For detailed information, please refer to the Eurex website under the following links:

Markets > FX

or

Rules & Regs > Excessive System Usage Fee
Rules & Regs > Order to Trade Ratio

G.  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 > Equity Index > Eurex KOSPI Products

or

Markets > FX 
Markets > Product Overview

H.  Transaction fees

The transaction fees listed in Attachment 1 will apply. For details, please refer to the current Price List of Eurex Clearing AG, available on the Eurex website under the following link:

Rules & Regs > Eurex Rules & Regulations > Price List

I.  Vendor codes

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

Markets > Product Overview > Vendor Codes

J.  Liquidity Provisioning

Please refer to Attachment 3 for the details regarding Liquidity Provisioning.
 

Attachments:

  • 1 – Details regarding product overview, contract specifications, trading hours, product group, Eurex T7 Entry Services, transaction fees
  • 2 – Updated sections of the Contract Specifications for Futures Contracts and Options Contracts at Eurex Deutschland
  • 3 – Product Specific Supplement for Eurex Daily USD/KRW Futures on US Dollar Futures


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@eurex.com

Web:

Support > Initiatives & Releases > Product Introduction

Authorized by:

Randolf Roth


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