On 30 April 2022, ESMA published results of the annual transparency calculations for non-equity instruments, which will come into effect on 1 June 2022. Therefore, Eurex will adjust the TES (Trade Entry Service)/Eurex EnLight Minimum Block Trade Sizes (MBTS) as well as the Non-Disclosure Limits for certain products to ensure compliance with the ESMA pre-/post-trade thresholds, effective 30 May 2022.
This circular contains information on the conversion of ESMA notional thresholds into Eurex lot sizes and the updated sections of the relevant Rules and Regulations of Eurex Deutschland.
Production start: 30 May 2022
2. Required action
Eurex invites all Trading Participants to familiarize themselves and their clients with the new thresholds which will become effective as of 30 May 2022.
A. Contract specifications and product parameters
You can find the updated TES/Eurex EnLight Minimum Block Trade Sizes on product level in the attached Contract Specifications for Futures Contracts and Options Contracts at Eurex Deutschland (hereafter: Contract Specifications). Please refer to Eurex Circular 059/20 for details on the conversion of ESMA EUR thresholds into Eurex lot sizes.
The full version of the updated Contract Specifications will be published on the Eurex website www.eurex.com as of start of trading under:
B. Non-disclosure limits
Non-disclosure is an optional feature for transactions above a certain volume threshold. Where this threshold is reached or exceeded, the entering trader of bilateral TES or Eurex EnLight trades can select intraday publication or non-disclosure by Eurex Exchange’s T7 for these trades. The default setting for transactions above a certain volume threshold is set to non-disclosure in T7.
As a reminder, the individual TES Profiles for simple instruments and strategies are always available on the next trading day in the file “YYYYMMDD_tradeEntryServiceProfiles.csv” on the Eurex website under the following link:
For the period before the above automated file is generated, a temporary file with the new thresholds will be available on the Eurex website under the same link.
All Trading Participants of Eurex Deutschland and Vendors
Front Office/Trading, Middle + Backoffice, IT/System Administration, Auditing/Security Coordination
Eurex Circular 059/20
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