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31 Jul 2023

Eurex

Equity Index Derivatives: Adjustment of the Liquidity Provider schemes for MSCI Futures and Futures during Asian trading hours (THX Futures)

Eurex Circular 057/23 Equity Index Derivatives: Adjustment of the Liquidity Provider schemes for MSCI Futures and Futures during Asian trading hours (THX Futures)

1.   Introduction

The Executive Boards of Eurex Deutschland and Eurex Clearing AG took the following decisions:

  • Adjustment of the Liquidity Provider Scheme for „Futures on MSCI Indices“ and amendment of the "Product Specific Supplement" ("PSS") pursuant to Attachment 1 as of 1 September 2023
  • Adjustment of the Liquidity Provider Scheme for „Futures on Euro STOXX Banks, STOXX Europe 600 and VSTOXX during Asian trading hours“ and amendment of the "Product Specific Supplement" ("PSS") pursuant to Attachment 2 as of 1 August 2023

2.   Required action

Liquidity Providers should adapt their quotation behavior accordingly.

3.   Details of the initiative

In both schemes a few amendments will be made to the quoting parameters. In the MSCI Futures program, those changes (relaxations) are related to the quotation of the basis (LP5). In return, the revenue sharing component will be reduced.

In the scheme for Futures during Asian hours (FESB, FXXP, FVS), a new stipend component will be added.

The PSS will be amended with effect from 1 September 2023 (MSCI) or 1 August 2023 (FESB, FXXP, FVS), as shown in the attachments. The amendments shall be deemed approved unless objected to Eurex Frankfurt AG and Eurex Clearing AG within a period of two weeks after notification of this circular pursuant to Number 4 (2) of the Liquidity Provider Agreement.

The current versions of the PSS documents are also available in PDF format on the Eurex website www.eurex.com under the following path:

Trade > Market-Making and Liquidity provisioning

Attachments:

  • 1 – Changed PSS “Equity Index 01 - Futures on MSCI Indices”
  • 2 – Changed PSS “Equity Index 52 - Equity Index-Futures on Euro STOXX Banks and STOXX Europe 600 and VSTOXX-Futures during Asian trading hours”


Further information

Recipients:

All Trading Participants of Eurex Deutschland and Vendors

Target groups:

Front Office/Trading, Middle + Backoffice, IT/System Administration, Revision/Security Coordination

Contact:

Market Development & Pricing, eurex.pricing@eurex.com

Web:

Market-Making and Liquidity provisioning

Authorized by:

Randolf Roth


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