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1. Introduction
The Management Board of Eurex Deutschland took the following decisions with effect from 30 May 2022:
For implementation of the above-mentioned decisions, the Contract Specifications will be amended with effect from 30 May 2022, as detailed in the Attachments.
This circular contains all information on the changes to the relevant Rules and Regulations of Eurex Deutschland.
Production start: 30 May 2022
2. Required action
There is no action required for participation.
3. Details
A. Change of trading hours on the last trading day for Fixed Income ESG index futures
Effective 30 May 2022, the trading hours for the two Fixed Income ESG index futures will be reduced from 08:00-19:00 CE(S)T to 08:00-17:15 CE(S)T on the last trading day of the contracts.
The measure above applies for the following futures contracts:
The amendment will be implemented in order to reflect the closing time of the cash bond market on the last trading day of the contract. The major European secondary markets for corporate bond trading close at 17:15 CE(S)T. Moreover, the daily index price calculated by Bloomberg is based on the constituent bond prices of the index taken at 17:15 CE(S)T.
Therefore, on the last trading day, there cannot be other pricing formation activity after 17:15 CE(S)T.
B. Adjustment of Eurex Contract Specifications for EFP-I transactions
Trade-at-Index-Close (TAIC) is a trade entry service type allowed to be booked at Eurex via the T7 Entry Service (TES). Such transaction allows counterparties to agree in advance the price at which to trade a future by applying a basis on the respective index close.
The Contract Specifications will be changed to reflect that the field where to insert the basis of a TAIC transaction is the “Description” field, rather than the “Text 3” field.
The amendment will be implemented in order to align the Contract Specifications to the instructions contained in the most updated version of the "T7 Trader, Admin and Clearer GUI - Manual" and therefore to reflect current market participants’ practices.
For the detailed changes to the Contract Specifications, please see the Attachments.
The full version of the updated Contract Specifications will be published on the Eurex website www.eurex.com as of start of trading under:
Rules & Regs > Eurex Rules & Regulations > 03. Contract Specifications
Attachments:
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: | davide.masi@eurex.com, vassily.pascalis@eurex.com, client.services@eurex.com | |
Web: | www.eurex.com | |
Authorized by: | Randolf Roth |
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