03 Mar 2022

Eurex

Equity index derivatives: Termination of trading in MSCI Russia futures (FMRU, FMRS)

Eurex Circular 026/22 Equity index derivatives: Termination of trading in MSCI Russia futures (FMRU, FMRS)

1.   Introduction

The index provider MSCI has announced to exclude Russia from the MSCI Emerging Market index at a price of 0.00001 of the security price currency (RUB or USD) on the close of 9 March 2022.

As of that date, those prices will also be used for the calculation of the MSCI Russia indices, which will remain as standalone indices. This was the result of a market consultation done by MSCI during this week and according to the MSCI announcement an overwhelming majority of market participants confirmed that the Russian equity market is currently uninvestable. See also: https://www.msci.com/index-announcements

Based on this announcement and treatment of the mentioned indices by the index provider, the Management Board of Eurex Deutschland has decided today to terminate trading in two MSCI Russia futures (FMRU, FMRS), effective immediately, as orderly trading seems not to be ensured anymore. Open positions on 3 March 2022 will be cash settled at a price of 0.001.

2.   Required action

Trading participants are encouraged to take notice of the announced termination and settlement details. 

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:

www.eurex.com

Authorized by:

Michael Peters


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