Fixed Income derivatives: A. Introduction of Fixed Income ESG Index Futures; B. Withdrawal of admission of futures on the EURO STOXX 50® Corporate Bond Index

1.    Introduction

This circular contains information with respect to Eurex Clearing’s service offering and corresponding amendments to the Clearing Conditions of Eurex Clearing (Clearing Conditions) and Price List of Eurex Clearing AG (Price List) regarding to the following topics:

A.    Introduction of two new Fixed Income ESG Index Futures,
B.    Discontinuation of clearing services for EURO STOXX 50^® Corporate Bond Index (FCBI).

The amendments will come into effect on 27 September 2021.

Please refer to Eurex circular 060/21 for detailed trading-related information as well as the amendments of the relevant Rules and Regulations of Eurex Deutschland.

2.  Required action

There is no required action for the participants.

A.    Introduction of two new Fixed Income ESG Index Futures

Effective 27 September 2021, Eurex Clearing will offer clearing services for two new Fixed Income ESG Index Futures:

• Futures on the Bloomberg Barclays MSCI Euro Corporate SRI Index (FECX),
• Futures on the Bloomberg Barclays MSCI Global Green Bond Index (FGGI).

In this context, the following measures will apply effective 27 September 2021:

• Amendment to the Clearing Conditions regarding the inclusion of Fixed Income ESG Index Futures,
• Amendments to the Price List regarding the inclusion of Micro Futures on Fixed Income ESG Index Futures.

The following provisions will be amended as outlined in the attachments:

• Chapter II Part 2 Number 2.23, 2.23.1 and 2.23.2 of the Clearing Conditions,
• Number 3.1, 3.2.2.1, 3.2.2.2, 3.3 and 3.4 of the Price List.

Please refer to Eurex circular 060/21 for further information. 

a. Contract Specifications

For the detailed Contract Specifications, please refer to Eurex circular 060/21.

b.   Product group

The product group of the new products is as follows:

c.   Transaction fees

The fees for the new products can be retrieved from the updated sections of the Price List, as outlined in Attachment 2.

d.    Simulation

Starting 6 August 2021, the new products will be available in the Eurex simulation environment for testing purposes. For further information, please refer to the simulation calendar on the Eurex website www.eurex.com under the following link:

Support > Initiatives & Releases > Simulation calendar

e.    Risk parameters

Margins for the new products are calculated in Prisma. For the risk parameters of the new products, please refer to the Eurex Clearing website www.eurex.com/ec-en/ under the link:

Services > Risk parameters

As of the effective date, the full version of the amended Clearing Conditions and Price List will be available for download on the Eurex Clearing website under the following link:

Rules & Regs > Rules and Regulations

B.    Discontinuation of clearing services for EURO STOXX 50^® Corporate Bond Index (FCBI)

In parallel to the introduction of the Fixed Income ESG Index Futures, Eurex Clearing will discontinue the clearing services for the Futures on the EURO STOXX 50^® Corporate Bond Index (FCBI) with effective date 27 September 2021. 

In this context, the following provisions will be amended as outlined in the attachments:

• Chapter II Part 2 Number 2.23, 2.23.1 and 2.23.2 of the Clearing Conditions,
• Number 3.1, 3.3 and 3.4 of the Price List.

The amendments to the legal framework of Eurex Clearing AG published by this circular are deemed accepted by each affected contractual party of Eurex Clearing AG, unless the respective contractual party objects by written notice to Eurex Clearing AG within the first 10 Business Days after publication. Any ordinary right of Eurex Clearing AG to terminate the respective contract (including a Clearing Agreement, if applicable) shall remain unaffected.

Unless the context requires otherwise, terms used and not otherwise defined in this circular shall have the meaning ascribed to them in the Clearing Conditions or FCM Clearing Conditions of Eurex Clearing AG, as applicable.

Attachments:

1. Amended sections of the Clearing Conditions of Eurex Clearing AG
2. Amended sections of the Price List of Eurex Clearing AG

Further information