A member of
Eurex
1. Introduction
With effect from 9 October 2023, the following additional products will be activated for tradability in the U.S.:
Product name | Product ID | Currency | Previous Capacity Group | New Capacity Group | ||||
EURO STOXX® Select Dividend 30 Index Dividend Futures | FD3D | EUR | Cash EUR | Cash EUR - CFTC | ||||
MSCI World Real Estate Index Futures | FMWZ | USD | Cash USD | Cash USD - CFTC | ||||
MSCI World ex USA Index Futures | FMXX | USD | Cash USD | Cash USD - CFTC | ||||
MSCI Emerging Markets ex China Index Futures | FMXH | USD | Cash USD | Cash USD - CFTC |
With effect from 4 December 2023, U.S. direct access tradability of the following product will be withdrawn for U.S. Eurex Participants:
Product name | Product ID | Currency | Previous Capacity Group | New Capacity Group | ||||
MSCI World Communication Services Futures | FMWC | USD | Cash Section 871m USD - CFTC | Cash Section 871m USD |
2. Required action
All Trading Participants that have open positions in MSCI World Communication Services Futures (USD) must comply with applicable Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) regulation once these Futures contracts transition to Foreign Security Futures Products (FSFPs).
3. Details
A. Tradability of additional derivatives
Eurex Deutschland has received approval from the “Commodity Futures Trading Commission” (CFTC) to offer trading of additional Futures in the U.S., so that these contracts can be made available for trading in the U.S.
The multicast addresses for data distribution remain unchanged. However, the following changes have been made for the port numbers:
The corresponding new "capacity group" for EURO STOXX® Select Dividend 30 Index Dividend Futures is "Cash EUR - CFTC" (previously: "Cash EUR"), for MSCI Futures contracts it is “Cash USD – CFTC” (previously: “Cash USD”).
According to Eurex Deutschland's registration as a "Foreign Board of Trade", the above-mentioned products can be offered or sold to persons in the U.S. via Eurex terminals with direct access in the U.S.
B. Upcoming transition from non-narrow-based to narrow-based and withdrawal of U.S. direct access
The MSCI World Communication Services Futures will transition from non-narrow-based security index futures to narrow-based security index futures effective at the close of trading of 13 December 2023. Accordingly, the CFTC will be withdrawing its non-narrow-based certification for the contracts at this upcoming date.
After the close of trading on 13 December 2023, MSCI World Communication Services Index Futures contracts will be security futures and must therefore be traded in accordance with both the U.S. securities and commodity futures laws.
Eurex Exchange notes that, in order to ensure compliance, its 4 December 2023 withdrawal of direct access tradability for U.S. Eurex Participants is in advance of the official date of the MSCI World Communication Services Index’s transition to a narrow-based security index.
Eurex Exchange will be evaluating whether MSCI World Communication Services Futures meet the eligibility requirements of the 2009 SEC Order governing FSFPs and the Commodity Exchange Act. If MSCI World Communication Services Futures meet the eligibility requirements, they will be listed on Eurex Exchange’s list of eligible FSFPs, updated monthly, available on the Eurex website www.eurex.com under the following link:
Rules & Regs > Eurex derivatives in the U.S. > Eligible foreign security futures products under 2009 SEC Order and Commodity Exchange Act.
All Trading Participants are reminded that all trading of eligible FSFPs for U.S. accounts must comply with the 2009 SEC Order, the Commodity Exchange Act, and the terms of Eurex Circular 105/21.
The multicast addresses for data distribution remain unchanged. However, the following changes have been made for the port numbers:
The corresponding new "capacity group" for MSCI World Communication Services Futures is "Cash Section 871m USD" (previously: "Cash Section 871m USD - CFTC").
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 or Rachna Mathur, rachna.mathur@eurex.com, Equity and Index Sales America, tel. +1 212 309 93 08 | |
Related circular: | Eurex Circular 105/21 | |
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.
Please find further information about incident handling in the Emergency Playbook published on the Eurex webpage under Support --> Emergencies and safeguards. Detailed information about incident communication, market re-opening procedures and best practices for order and trade reconciliation can be found in the chapters 4.2, 4.3 and 4.5, respectively. Concrete information for the respective incident will be published during the incident via newsboard message.
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.
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