Eurex
1. Introduction
The Management Board of Eurex Deutschland took the following decisions effective 22 January 2024:
The Executive Board of Eurex Frankfurt AG took the following decisions with effect from 1 February 2024:
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: 22 January 2024
2. Required action
The new products will be traded and settled in the same way as existing equity index derivatives, so no special activities are required to participate.
3. Details of the initiative
A. Product overview
Please refer to Attachment 1 for an overview of the new products.
The new SRI (Socially Responsible Investing) Futures cover indices that track the performance of the STOXX® Europe 600 and MSCI Europe, World, USA and Emerging Markets after a series of emissions intensity, compliance, equity and ESG performance screenings have been applied. The indices are part of the respective STOXX® and MSCI Sustainable Index family.
B. Contract specifications and product parameters
Attachment 1 contains an overview in table format.
For the detailed contract specifications please see Attachment 2.
The full version of the updated Contract Specifications for Futures Contracts and Options Contracts at Eurex Deutschland 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. Trading hours
Please refer to Attachment 1 for the trading hours.
D. Trading calendar
Futures on STOXX® SRI Indices and MSCI SRI Indices are available on every trading day at Eurex Deutschland. The exact trading days can be found from the start of trading in the trading calendar published on the Eurex website under the link:
E. Product group
The product group for the new products is contained in Attachment 1.
F. Liquidity Provider Scheme
From 1 February 2024, the new products will be included in the existing Liquidity Provider (LP) Schemes. The quote parameters and all other information can be found in the attached Product Specific Supplements (PSS) documents (Attachment 3 and Attachment 4).
G. Excessive System Usage Fee and Order to Trade Ratio
The Excessive System Usage Fee and the Order to Trade Ratio for the new products were determined in line with the existing equity index derivatives. Further information can be found on the Eurex website under the following links:
Markets > Equity Index > Equity Index ESG
Rules & Regs > Excessive System Usage Fee
Rules & Regs > Order to Trade Ratio
H. Mistrade parameters
Mistrade ranges and vendor codes for the new index derivatives will be published as of start of trading on the Eurex website under the link:
Markets > Equity Index > Equity Index ESG
I. Transaction fees
The transaction fees stated in Attachment 1 will apply to the new STOXX®-SRI Futures and MSCI-SRI Futures. For details, please refer to the Price List of Eurex Clearing AG under „Futures on STOXX® ESG Indices“ and „MSCI Futures“ (denominated in EUR or USD) available for download on the Eurex Clearing website www.eurex.com/ec-en/ under this link:
Rules & Regs > Eurex Clearing Rules & Regulations > 3. Price List
J. Admission to the Eurex T7 Entry Services (TES)
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:
Trade > Eurex T7 Entry Services
The new Futures on STOXX® SRI Indices and MSCI SRI Indices will be admitted to the TES with the parameters listed in Attachment 1.
K. 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 www.eurex.com/ec-en/ under the following path:
There you will also find an updated list with details regarding Prisma-eligible Eurex products.
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: | client.services@eurex.com | |
Web: | www.eurex.com | |
Authorized by: | Randolf Roth |
Market Status ⓘ
XEUR
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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.
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