24 Nov 2021

Eurex

MSCI derivatives: Extension of fee reduction and Asian Broker scheme

Eurex Circular 108/21 MSCI derivatives: Extension of fee reduction and Asian Broker scheme


1.    Introduction

According to Eurex Circular 103/20, Eurex Clearing AG offers currently reduced transaction fees for selected MSCI Futures. This temporary reduction is valid until 31 December 2021 and should be extended in modified form as of 1 January 2022 until 31 December 2022

Already as of 1 December 2021 and as well until 31 December 2022, the existing Asian Broker scheme will be extended for selected MSCI Futures. This incentive scheme targets market participants who act as Interdealer brokers in selected Asian MSCI Futures during Asian trading hours.

2.    Action required

Interested market participants in the Asian broker scheme are requested to send the filled-out form (Attachment 2) to Eurex Frankfurt AG. Market participants already active under the current Asian Broker scheme do not need to send another form.

3.    Details 

A.    For the period from 1 January 2022 until 31 December 2022, the transaction fees for the products named in table A in Attachment 1 will be reduced as described in the table.

The transaction fees of all other MSCI derivatives are shown in the full version of the Price List available on the Eurex website www.eurex.com under the following link:

Rules & Regs > Eurex Rules & Regulations > Price List

B.    To further increase the activity in Asian MSCI Index-Futures, market participants based in Asia who act as interdealer brokers and who have the ability to enter trades at Eurex directly from their Asian location can qualify for monetary incentives from 1 December 2021 until 31 December 2022. The following conditions need to be fulfilled:

  • Only trades entered during Asian trading hours (until 08:00 CET) will be taken into account,
  • Only trades where the market participant acts as an interdealer broker, i.e. trade entry via A-account and transfer of the position(s) to another member will be taken into account,
  • Only trades in the products mentioned below will be taken into account.

Per traded contract during the aforementioned period, Eurex Frankfurt AG will pay the market participant a fixed amount, which differs between trades entered during roll months (March, June, September and December) and non-roll months. For trades, where the Broker initially takes both sides, buy and sell, the incentives will be also paid for both sides. Accordingly, for calendar spreads („rolls“), the incentives will be paid for both legs.

All amounts are in U.S. dollar (USD) and will be paid quarterly. Details are summarized in table B in Attachment 1. 

Per product and broker, a maximum pay-out amount is fixed at USD 10,000 per month (in a roll month) or USD 7,500 per month (in a non-roll month).

Eurex Frankfurt AG reserves the right to adjust the selection of products, as well as the pay-outs on a quarterly basis. Any changes will be announced via another Eurex circular.

Interested market participants, who want to participate in the Asian Broker scheme, are not allowed to participate in any other incentive scheme for MSCI derivates at Eurex simultaneously.

Attachments:

  1. Regarding 3. Details: Tables for A and B
  2. Application form for the Asian Broker scheme


Further information

Recipients:

All Trading Participants of Eurex Deutschland and Vendors

Target groups:

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

Contacts:

Rachna Mathur, Equity & Index Sales, tel. +1 212 309 93 08, rachna.mathur@eurex.com;
Mezhgan Qabool, Equity & Index Sales, Tel. +65 6597 3062, mezhgan.qabool@eurex.com;
Ralf Huesmann, Equity & Index Product Design, tel. +49-69-211-1 54 43, ralf.huesmann@eurex.com

Related circular:

Eurex Circular 103/20

Web:

www.eurex.com

Authorized by:

Randolf Roth


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