30 Nov 2021

Eurex

Equity Total Return Futures and Basket Trades of Equity Total Return Futures: First Adopter Incentive Scheme

Eurex Circular 113/21 Equity Total Return Futures and Basket Trades of Equity Total Return Futures: First Adopter Incentive Scheme

1.  Introduction

The Executive Board of Eurex Frankfurt AG took the following decision, with effect from 1 December 2021:

  • Introduction of a First Adopter Incentive Scheme for Equity Total Return Futures and Basket Trades of Equity Total Return Futures (ETRF/BTRF).

The First Adopter Incentive Scheme will support the further development of ETRFs/BTRFs introduced on 7 October 2019.
 
For details of the First Adopter Incentive Scheme, please refer to the attachment to this circular.

The eligibility period for inclusion in the incentive scheme will be valid until 30 June 2022. The benefits under the scheme will be applicable until 31 December 2023.

2.  Required action

Participants interested in eligibility for the scheme will need to fill in and submit the “Application Form for Participation in Trading/Clearing of Basket Trades Functionality” for the assignment of the ETRF product capacity and entitlement to Basket Trades functionality. The form will be sent to the participants via their Key Account Managers. 

No further registration for the incentive scheme is required.

Please check whether you have subscribed to Eurex circulars and newsflashes under the following link on the Eurex website www.eurex.com to remain updated, as any communication will only be distributed via Eurex circulars and newsflashes:

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3.  Details of the initiative

The First Adopter Incentive Scheme aims to provide short-term impetus to on-board participants to the ETRF/BTRF offering in the first half of 2022 by offering initial and subsequent rebates on both transaction fees and maintenance fees for M- and P-accounts as follows:

Description

SCHEME APPLICATION PERIOD

Phase 1 Registration

Phase 2 Registration

Ongoing Eligibility

1 Dec. 2021 – 31 Mar. 2022

1 Apr. – 30 Jun. 2022

1 Jul. – 31 Dec. 2022

1 Jan. – 31 Dec. 2023

Minimum Monthly Average Open Interest requirement

EUR 200 million

EUR 400 million

EUR 400 million

Transaction Fee Rebate (in the next month(s))

100%

100%

100%

100%

Maintenance Fee Rebate (in the next month(s))

50%

50%

50%

-

For the full and legally binding details of the First Adopter Incentive Scheme please see the attachment.


Attachment:

  • First Adopter Incentive Scheme for Equity Total Return Futures and Basket Trades of Equity Total Return 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

Related circulars:

Eurex Circulars 073/19 and 043/19, Eurex Clearing Circular 106/21

Contact:

Stuart Heath, Equity & Index Product Design, tel. +44 20 7862 72 53, 
stuart.heath@eurex.com;
Elena Marchidann, Equity & Index Product Design, tel. +44 20 7862 72 65, elena.marchidann@eurex.com

Web:

www.eurex.com

Authorized by:

Randolf Roth


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