Eurex
1. Introduction
The Management Board of Eurex Deutschland took the following decisions:
a. Introduction of Futures on seven MSCI Indices (MSCI World Factor Futures) and Options on four MSCI Indices (MSCI ESG Screened Options), effective as of 7 November 2022
b. Delisting of Futures and Options on the MSCI China Free Index
c. Adjustment of the existing Liquidity Provider Schemes with regard to the new and delisted products (as of 1 December 2022)
d. Adjustment of the calendar quoting in the existing Liquidity Provider Schemes (as of 1 December 2022)
Production start of the new products: 7 November 2022
2. Action required
There is no action required for participation.
3. Details of the initiative
A. Product overview
Please refer to Attachment 1 for an overview of the new and products to be deleted.
B. Contract specifications
Attachment 1 contains an overview in table format. For the detailed contract specifications please see Attachment 2.
The full version of the updated Contract Specifications for Futures Contracts and Options Contracts at Eurex Deutschland will be published on the Eurex website www.eurex.com as of start of trading under:
Rules & Regs > Eurex Rules & Regulations > 03. Contract Specifications
C. Trading hours
Please refer to Attachment 1 for the trading hours.
D. Trading calendar
Futures and Options on MSCI Indices will be available for trading on every exchange trading day at Eurex Deutschland. As of start of trading, the trading days can be retrieved from the trading calendar on the Eurex website under the following link:
E. Product group
The product group for the new products is contained in Attachment 1.
F. Liquidity Provider Schemes
As of 1 December 2022, the new products will be added to the existing Liquidity Provider (LP) Schemes for MSCI Futures and Options. Please refer to the Product Specific Supplements (PSS) (Attachments 3 and 4) for the detailed incentives of the scheme, quote parameters and all further information.
At the same time, some amendments will be made in Section 5c of Attachment 3 (Quotation of calendar spread contracts). The list of available products will be extended by the products FMEU, FMWO and FMWN. In addition, some quote sizes will be reduced.
G. Excessive System Usage Fee and Order to Trade Ratio
The Excessive System Usage Fee and the Order to Trade Ratio for the new products have been defined according to the existing equity index derivatives. Further information can be found on the Eurex website under the following links:
Markets > Equity Index
Rules & Regs > Excessive System Usage Fee
Rules & Regs > Order to Trade Ratio
H. Mistrade parameters and vendor codes
Mistrade ranges and vendor codes for the new index derivatives will be published as of start of trading on the Eurex website under the link:
Markets > Equity Index > MSCI Indexes
I. Transaction fees and rebates
The transaction fees stated in Attachment 1 will apply for the new MSCI derivatives. For details, please refer to the Price List of Eurex Clearing AG available for download on the Eurex Clearing website www.eurex.com/ec-en/ under this link:
Rules & Regs > Eurex Clearing Rules & Regulations > 3. Price List
J. Admission to the Eurex T7 Entry Services (TES)
The new products will be admitted to the Eurex T7 Entry Services (TES). You can find the minimum block trade sizes on product level in the attached Contract Specifications.
An overview of the Eurex T7 Entry Services available for the products as well as detailed information on single product basis with regard to availability, possibility of utilization and minimum entry size for the various Eurex T7 Entry Services is available on the Eurex website under the link:
Trade > Eurex T7 Entry Services
The new MSCI derivatives will be admitted to the TES with the parameters listed in Attachment 1.
K. Risk parameters
As of start of trading, risk parameters of the new products will be published on the Eurex website under the link:
Data > Clearing files > Risk parameters and initial margins
and on the Eurex Clearing website under the following path:
you will also find an updated list with details regarding Prisma-eligible Eurex products.
Attachments:
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: | Rachna Mathur, Equity & Index Sales, tel. +1 212 309 93 08, rachna.mathur@eurex.com; | |
Web: | www.eurex.com | |
Authorized by: | Randolf Roth |
Market Status ⓘ
XEUR
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Please find further information about incident handling in the Emergency Playbook published on the Eurex webpage under Support --> Emergencies and safeguards. Detailed information about incident communication, market re-opening procedures and best practices for order and trade reconciliation can be found in the chapters 4.2, 4.3 and 4.5, respectively. Concrete information for the respective incident will be published during the incident via newsboard message.
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