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1. Introduction
With effect from 23 May 2022, the Management Board of Eurex Deutschland took the following decisions:
For Liquidity Providers in ODAX and OSMI, the requirements will be adjusted.
Production start: 23 May 2022
2. Required action
Liquidity Providers in ODAX and OSMI should adjust their quotation behavior accordingly. Trading Participants should adapt their trading and clearing systems to the new additional quarterly expirations.
3. Details of the initiative
Aim of the initiative is to extend and harmonize the term structure for benchmark index derivatives on EURO STOXX 50® (FESX/FESQ/OESX), STOXX 600® (FXXP/OXXP), DAX® (FDAX/FDXM/ODAX) and SMI® (FSMI/OSMI) to support option volatility strategies. In a first step, the terms for FDAX and FDXM were already extended to three years as of 24 January 2024 (see Eurex Circular 119/21).
For all products, quarterly expirations for up to 36 months will be added, where required.
The quotation requirements for Liquidity Providers will be adjusted accordingly if the new expirations are within the terms of the existing quotation requirements. This is the case for ODAX and OSMI only. Here, by this measure, the number of expiration months to be quoted will be increased from 8 to 10 months. The maximum expiration to be quoted remains unchanged at 24 months. All other requirements remain unchanged.
Attachments:
Further information
Recipients: | All Trading Participants of Eurex Deutschland and Vendors | |
Target groups: | Front Office/Trading, Middle + Backoffice | |
Contact: | Tobias Ehinger, Equity & Index Product Design, tel. +49-69-211-1 23 13, tobias.ehinger@eurex.com | |
Related Circular: | Eurex Circular 119/21 | |
Web: | www.eurex.com | |
Authorized by: | Randolf Roth |
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