Underlying instruments

TESX

TESB

TEDV

iSTOXX® 

FTSE

Settlement

Cash settlement, payable on the first exchange day following the final settlement day.

Contract multiplier

TESX, TEDV: EUR 10 per index point.
TESB, TCBX, TC1L: EUR 50 per index point.
TTUK: GBP 10 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.

TCBX - Up to 4 years and 11 months: The next five successive annual months of the December cycle. 

TC1L - Up to 24 months: The three nearest successive calendar months, the three following quarterly months of the March, June, September and December cycle thereafter, and the two following semi-annual months of the June and 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.

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, 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.

This file provides an overview of mistrade ranges for Options and Futures including information on their behavior close to expiration and in stressed markets.