A member of
Eurex
1. Introduction
With this circular, Eurex Deutschland (Eurex) provides its view that Euro-EU Bond Futures (FBEU) can be treated as an eligible Foreign Security Futures Product (FSFP) under the U.S. Securities and Exchange Commission’s 2009 Exemptive Order governing eligibility of certain U.S. persons to trade FSFPs (2009 SEC Order), the CFTC’s 2010 Staff Advisory concerning the offer and sale of FSFPs to customers located in the United States (2010 CFTC Advisory) and the Commodity Exchange Act.
Effective date: 4 February 2026
2. Required action
All Eurex Participants that are eligible to trade eligible FSFPs for U.S. accounts pursuant to the terms of the 2009 SEC Order, the CFTC 2010 Staff Advisory, the Commodity Exchange Act and Eurex Circular 105/21 may trade FBEU for U.S. accounts, provided that such trading complies with these terms.
3. Details
U.S. person tradability of FSFPs is governed by the 2009 SEC Order, the 2010 CFTC Advisory, and the Commodity Exchange Act. Eurex hereby provides its view that FBEU may be traded for U.S. accounts subject to the terms and conditions of the 2009 SEC Order, the 2010 CFTC Advisory, and the Commodity Exchange Act.
Please note, to be eligible to purchase or sell FSFPs for U.S. accounts, U.S. Persons must qualify each as a Qualified Institutional Buyer, Accredited Investor, and Eligible Contract Participant. Intermediaries must be registered or exempt from registration under both the U.S. securities and commodity futures regulatory frameworks. For further information on all Eurex requirements related to trading FSFPs for U.S. accounts, please see Eurex Circular 105/21.
Eurex reminds participants that it generally no longer publishes circulars regarding FSFP eligibilities or FSFP transitions in status between eligible and ineligible.
U.S. Persons should consult with their legal and other advisors if they have questions about whether they may trade FSFPs listed on Eurex Deutschland. Any eligible U.S. customer wishing to trade FSFPs should consult with its eligible intermediary.
Further information
Recipients: | All Trading Participants of Eurex Deutschland and Vendors | |
Target groups: | Front Office/Trading, Middle + Backoffice, Auditing/Security Coordination | |
Related circulars: | Eurex Circulars 105/21, 114/23 | |
Contact: | Damien Zinck, Sales America, damien.zinck@eurex.com, tel. +1 312 4599256 or Jutta Frey-Hartenberger, Eurex Derivatives Products & Markets, jutta.frey-hartenberger@eurex.com, tel. +49-69-211-1 49 88 | |
Web: | www.eurex.com | |
Authorized by: | Matthias Graulich |
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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