Underlying instruments
TESX
Index | Currency | Index type | ISIN |
EURO STOXX 50® Distribution Point Index | EUR | DVP Index | CH0334725220 |
Euro Short Term Rate (€STR flat) | EUR | Funding Rate | EU000A2X2A25 |
TESB
Index | Currency | Index type | ISIN |
EURO STOXX® Banks Distribution Point Index | EUR | DVP Index | CH0584034968 |
Euro Short Term Rate (€STR) | EUR | Funding Rate | EU000A2X2A25 |
TEDV
Index | Currency | Index type | ISIN |
EURO STOXX® Select Dividend 30 Distribution Point Index | EUR | DVP Index | CH0584034976 |
Euro Short Term Rate (€STR) | EUR | Funding Rate | EU000A2X2A25 |
TXXP
Index | Currency | Index type | ISIN |
STOXX® Europe 600 Distribution Points Index | EUR | DVP Index | CH1213361137 |
Euro Short Term Rate (€STR) | EUR | Funding Rate | EU000A2X2A25 |
FTSE
Index | Currency | Index type | ISIN |
FTSE 100 Index | GBP | Price index | GB0001383545 |
FTSE 100 Cumulative Distribution Point Index | GBP | DVP Index | GB00BMDK8W82 |
Sterling Overnight Index Average (SONIA) | GBP | Funding Rate | GB00B56Z6W79 |
MSCI
Index | Currency | Index type | ISIN |
Resp MSCI Distribution Distribution Point Index | USD | DVP Index | |
Secured Overnight Financing Rate (SOFR) | USD | Funding Rate | |
Settlement
Cash settlement, payable on the first exchange day following the final settlement day.
Contract multiplier
TESX, TEDV: EUR 10 per index point.
TESB, TXXP: EUR 50 per index point.
TTUK: GBP 10 per index point.
TMWO, TMFA: USD 10 per index point.
TMEM: USD 100 per index point.
Quotation and minimum change of the TRF spread
TRF spread as annualised rate expressed in basis points with one decimal place. The minimum change of the TRF spread is +/- 0.5 basis points (1 basis point = 0.0001).
Trade types
Trade at Index Close (TAIC) with an index level based on the daily index close.
Trade at Market (TAM) with a custom-defined index level.
Accrued Distributions and Accrued Funding (index points)
The distribution and funding rate payments will be accumulated from the product launch date and added to the TRF futures price in index points. The daily changes in distributions and funding payments are paid out via Variation Margin.
Contract months
TESX - Up to 9 years and 11 months: The 21 nearest quarterly months of the March, June, September and December cycle and the five following annual months of the December cycle thereafter.
TESB, TEDV - Up to 6 years and 11 months: The eight nearest quarterly months of the March, June, September and December cycle and the five following annual months of the December cycle thereafter.
TXXP - Up to 4 years and 11 months: The four nearest quarterly months of the March, June, September and December cycle and the four following annual months of the December cycle thereafter.
TTUK - Up to 9 years and 11 months: The twelve nearest quarterly months of the March, June, September and December cycle and the seven following annual months of the December cycle thereafter.
Last trading day and final settlement day
Last trading day is the exchange day immediately preceding the final settlement day.
Final settlement day is the third Friday of each maturity month if this is an exchange day; otherwise the exchange day immediately preceding that day. Close of trading in the maturing futures on the last trading day is at 17:30 CET, for MSCI TRF at 22:00 CET.
Daily settlement TRF spread (basis points)
The daily settlement TRF spread is used to calculate the daily settlement price and determined as follows:
- The daily settlement TRF spread is based on the TRF spread traded via the closing auction between 17:25 and 17:30 CET.
- Should no trades be executed in the closing auction, then the daily settlement TRF spread is determined based on the average bid/ask spread of the respective contract month.
- Should no price be determined according to the aforementioned procedure, the daily settlement TRF spread is determined based on a theoretic (fair) TRF spread for the respective contract.
Daily settlement price (index points)
The daily settlement price is established on the current trading day and is based on the close of respective underlying index (for TMWO and TMFA the MSCI Index level snapshot at European close 17:30 CET and for TMEM the index level derived from the daily settlement price of the respective index futures FMEM at 17:30 CET), the daily settlement TRF spread as well as the Accrued Distributions and Accrued Funding which have been accumulated from the product launch until the current date.
Final settlement price (index points)
The final settlement price is established by Eurex on the final settlement day of the contract and is based on the final settlement price of the respective futures contract as well as the Accrued Distributions and Accrued Funding from the product launch until the expiration date.
Further details are available in the clearing conditions and the contract specifications.
Admitted to the Eurex Block Trade Service with a Minimum Block Trade Size of 100 contracts.