Derivatives on Cryptocurrencies: Introduction of Futures and Options on FTSE Ethereum Index in USD and EUR

1.  Introduction

Effective 12 August 2024, Eurex Clearing AG will offer clearing services for Futures and Options contracts on FTSE Ethereum Index in EUR and USD introduced at Eurex Deutschland.

In this context, the following measures will apply effective 12 August 2024:

• To offer clearing for Futures and Options on FTSE Ethereum Index Futures (EUR and USD) at Eurex Clearing AG,
• To amend the Price List of Eurex Clearing AG (Price List) regarding the introduction of Futures and Options contracts on FTSE Ethereum Index in EUR and USD as outlined in Attachment 2,
• To amend the Product Specific Supplement “Equity Index 69 – Futures and Options on FTSE Crypto Indexes” as outlined in Attachment 3.

Please refer to Eurex Circular 071/24 for detailed trading-related information, including fee classification and the related amendments to the Rules and Regulations of Eurex Deutschland.

Simulation start: 23 July 2024
Production start: 12 August 2024

2.  Required action

Trading Participants are encouraged to make use of the Simulation environment to test the Trading and Clearing workflow of the planned products ahead of production launch.

3.  Details of the initiative

A. Product overview

Please refer to Attachment 1 for the product details.

B. Contract specifications

For the detailed contract specifications, please refer to Eurex Circular 071/24.

C. Product group

Please refer to Attachment 1 for the product details.

D. Transaction fees

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

E. Risk parameters

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

Services > Risk parameters

F. Amendments to the legal framework of Eurex Clearing AG

To reflect these decisions in the legal framework of Eurex Clearing AG, the following provisions will be amended as outlined in Attachment 2:

• Numbers 3.1, 3.3, 3.4, 3.7 and 3.8 of the Price List of Eurex Clearing AG

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

Rules & Regs > Eurex Clearing Rules and Regulations > 3. 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 prior to the relevant effective date(s) as stipulated in this circular. In case of an objection by the respective contractual party pursuant the preceding sentence, Eurex Clearing AG is entitled to terminate the respective contract (including 5a Clearing Agreement, if applicable). Instead of submitting an objection, the respective contractual party may submit in writing to Eurex Clearing AG comments to any amendments of the legal framework of Eurex Clearing AG within the first 10 (ten) Business Days after the publication of the amendments. Eurex Clearing AG shall assess whether these comments prevent the published amendments from becoming effective taking into account the interests of Eurex Clearing AG and all contractual parties. 

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 – Product overview and product group with the list of the new products
• 2 – Amended sections of the Price List of Eurex Clearing AG
• 3 – Product Specific Supplement “Equity Index 69 – Futures and Options on FTSE Crypto Indexes”

Further information