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Apr 07, 2026

Eurex

Amendments to the Conditions for Trading at Eurex Deutschland

Eurex Circular 020/26 Amendments to the Conditions for Trading at Eurex Deutschland

1.  Introduction

This circular informs you about amendments to the

  • Conditions for Trading at Eurex Deutschland (“Trading Conditions”) by means of the Thirty-fourth Amendment Ordinance as outlined in the Attachment.

The amendments to the regulations shall enter into force on the date set out in the attached Amendment Ordinance.

Above-mentioned Amendment Ordinance is attached to this circular. The amended Rules and Regulations including corresponding Amendment Ordinances are available for download on the Eurex website www.eurex.com under the following link: Eurex Rules & Regulations.

Effective date: 27 July 2026

2.  Required action

No action is required for the participants.

3.  Details of the initiative

Number 2.5 Trading Conditions - Introducing packs and bundle synthetics

In order to introduce synthetic packs and bundles, the aforementioned number in the Trading Conditions is to be adjusted.

At Eurex Deutschland, best-priced orders or quotes stored in different order books can be combined in such a way that they correspond to the side opposite the incoming order or quote ("Synthetic Path"). So far, only those Synthetic Paths resulting from a combination of tradable contracts, calendar spreads, butterflies and condors have been taken into account. Calendar spreads are combined instruments consisting of two legs, butterflies are instruments consisting of three legs and condors are instruments consisting of four legs (see Number 2.2.5 Trading Conditions).

In the future, Synthetic Paths will be taken into account which can also include packs and bundles as combined instruments. Packs and bundles are combined instruments consisting of four legs (packs) or more (bundles) (see Number 2.2.2 Trading Conditions). The synthetic matching of packs and bundles is essentially the same as that of butterflies and condors, so that in Number 2.5 (2) of the Trading Conditions for the introduction of pack and bundle synthetics, only adjustments to the execution priority are to be made. 

 Attachment: 

  • Thirty-fourth Amendment Ordinance to the Conditions for Trading at Eurex Deutschland
     

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: 

Jonas Ullmann  


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