15 Sep 2022

Eurex

Equity Derivatives: Introduction of Equity Options, Single Stock Futures and Single Stock Dividend Futures

Eurex Circular 090/22 Equity Derivatives: Introduction of Equity Options, Single Stock Futures and Single Stock Dividend Futures

1.  Introduction

The Management Board of Eurex Deutschland took the following decisions with effect from 4 October 2022:

  • Introduction of ten Equity Options pursuant to Annex B to the Contract Specifications (Attachment 2),
  • Introduction of 34 Single Stock Futures pursuant to Annex A to the Contract Specifications (Attachment 2),
  • Introduction of two Single Stock Dividend Futures pursuant to Annex D to the Contract Specifications (Attachment 2),
  • Further changes to Annexes to the Contract Specifications for Futures Contracts and Options Contracts at Eurex Deutschland pursuant to Attachment 2

The Executive Board of Eurex Frankfurt AG took the following decision with effect from 1 November 2022:

  • Changes to the Product Specific Supplements “Equity 02” and “Equity 03” (Attachments 3 and 4) to include two Single Stock Futures and two Single Stock Dividend Futures

This circular contains all information on the introduction of the new products and the updated sections of the relevant Rules and Regulations of Eurex Deutschland.

Production start: 4 October 2022

2.  Action required

There is no action required for participation.

3.  Details

A.  Product overview

Please refer to Attachment 1 for the products.

B.  Contract specifications and product parameters

The contract specifications for the new Equity Options, Single Stock Futures and Single Stock Dividend Futures generally correspond to the existing contracts with the respective Eurex group ID, also regarding trading hours and trading calendar, last trading day, settlement and determination of daily and final settlement prices.

For the detailed Contract Specifications for Futures Contracts and Options Contracts at Eurex Deutschland (Contract Specifications), please see Attachment 2.

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

C.  Admission to the Eurex T7 Entry Services (TES)

The new products will be admitted to the Eurex T7 Entry Services (TES). You can find the minimum block trade sizes on product level in the attached Contract Specifications.

An overview of the Eurex T7 Entry Services available for the products as well as detailed information on single product basis with regard to availability, possibility of utilization and minimum entry size for the various Eurex T7 Entry Services is available on the Eurex website under the link:

Data > Trading files > T7 Entry Service parameters

D. Risk parameters

As of start of trading, risk parameters of the new products will be published on the Eurex website under the link: 

Data > Clearing files > Risk parameters and initial margins

and on the Eurex Clearing website under the following path:

Services > Risk parameters

you will also find an updated list with details regarding Prisma-eligible Eurex products.  

E.  Excessive System Usage Fee and Order to Trade Ratio

The Excessive System Usage Fee and the Order to Trade Ratio for the new products have been defined according to the existing products (Single Stock Futures, Equity Options, Single Stock Dividend Futures). Further information can be found on the Eurex website under the following links:

Markets > Product Overview
Rules & Regs > Excessive System Usage Fee
Rules & Regs > Order to Trade Ratio

F.  Mistrade parameters and position limits

Mistrade ranges and position limits for the new products will be published as of start of trading on the Eurex website under the link:

Markets > Product Overview

G.  Transaction limits

The same values apply as for existing products with the relevant Eurex group ID. For details, please refer to the Eurex website under the link:

Rules & Regs > Excessive System Usage Fee

H.  Transaction fees

The same transaction fees apply as for the corresponding existing products.

I.  Vendor codes

As of start of trading, vendor codes for the new products will be published on the Eurex website under the link: 

Markets > Product Overview > Vendor Codes

J.  Liquidity Provisioning

Please refer to Attachments 1, 3 and 4 for the Liquidity Provisioning. Detailed information can be found on the Eurex website under the following link:

Trade > Market-Making and Liquidity provisioning > Product Specific Supplements to the LPA
 

Attachments:

  • 1 – Product overview, Liquidity Provisioning
  • 2 – Updated Annexes to the Contract Specifications for Futures Contracts and Options Contracts at Eurex Deutschland
  • 3 – Updated “Product Specific Supplement for Single Stock Futures” – Equity 02
  • 4 – Updated “Product Specific Supplement for Single Stock Dividend Futures” – Equity 03


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:

Randolf Roth


Market Status

XEUR

The market status window is an indication regarding the current technical availability of the trading system. It indicates whether news board messages regarding current technical issues of the trading system have been published or will be published shortly.

We strongly recommend not to take any decisions based on the indications in the market status window but to always check the production news board for comprehensive information on an incident.

An instant update of the Market Status requires an enabled up-to date Java™ version within the browser.