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17 Jun 2024

Eurex

Equity Derivatives: A. Introduction of Single Stock Futures and Single Stock Dividend Futures; B. Cancellation of admission to trading for Single Stock Futures, one Single Stock Dividend Future, equity options and one Total Return Future; C. Name change of several Single Stock Futures and Single Stock Dividend Futures

Eurex Circular 059/24 Equity Derivatives: A. Introduction of Single Stock Futures and Single Stock Dividend Futures; B. Cancellation of admission to trading for Single Stock Futures, one Single Stock Dividend Future, equity options and one Total Return Future; C. Name change of several Single Stock Futures and Single Stock Dividend Futures

1.   Introduction

Due to previous corporate actions, the Management Board of Eurex Deutschland took the following decisions with effect from 1 July 2024:

  • Introduction of eight Single Stock Futures and five Single Stock Dividend Futures pursuant to Annexes A, B and D to the Contract Specifications for Futures Contracts and Options Contracts at Eurex Deutschland (hereafter: Contract Specifications), according to Attachment 2;
  • Cancellation of admission to trading for seven Single Stock Futures, one Single Stock Dividend Future, six equity options and one Total Return Future pursuant to Annexes A, B, D and G of the Contract Specifications, according to Attachment 2,
  • Name change of the underlyings for Single Stock Futures and equity options pursuant to Annexes A and B to the Contract Specifications, according to Attachment 2.

To implement the above decisions, the Contract Specifications will be amended with effect from 1 July 2024.

This circular contains all information on the introduction of the new products and the updated sections of the relevant Rules and Regulations of Eurex Deutschland.

Production start: 1 July 2024

2.   Required action

There is no action required for participation.

3.   Details of the initiative
 
A.  Product overview

Please refer to Attachment 1 for the product details.

B.  Contract specifications and product parameters

In general, contract specifications for the new Single Stock Futures and Single Stock Dividend Futures are in line with the existing contracts with the relevant Eurex group ID, also in terms of trading hours and trading calendar, last trading day, settlement and determination of the daily and final settlement prices.

In addition, names of underlyings of selected Single Stock Futures and equity options were changed, as outlined in the above-mentioned Annexes to the Contract Specifications.

The amended sections of the Contract Specifications can be found in Attachment 2.

The full version of the updated Contract Specifications 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.  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 Contract Specifications in Attachment 2.

An overview of the Eurex T7 Entry Services available for the products as well as detailed information on a 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:

Data > Trading files > T7 Entry Service parameters

D.  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 www.eurex.com/ec-en/ under the following path:

Services > Risk parameters

You will also find an updated list with details regarding Prisma-eligible Eurex products under this path.

E.  Excessive System Usage Fee and Order-to-Trade Ratio

The Excessive System Usage Fee and the Order-to-Trade Ratio for the new products are determined in line with the existing products (Single Stock Futures and Single Stock Dividend Futures). For detailed information, please refer to the Eurex website under the following links:

Markets > Product Overview

Rules & Regs > Regulations > Excessive System Usage Fee

Rules & Regs > Regulations > Order-to-Trade Ratio

F.  Mistrade parameters and position limits

Mistrade ranges and position limits for the new products will be published as of start of trading on the Eurex website under the link:

Markets > Product Overview

G.    Transaction limits

The same values apply as for existing products with the relevant Eurex group ID. For details, please refer to the Eurex website under the link:

Rules & Regs > Regulations > Excessive System Usage Fee

H.  Transaction fees

The same transaction fees apply as for the corresponding existing products.

I.  Vendor codes

At start of trading, vendor codes for the new products will be published on the Eurex website under the link:

Markets > Product Overview > Vendor Codes
 

Attachments: 

  • 1.    Product overview
  • 2.    Updated sections of the Annexes to the Contract Specifications for Futures Contracts and Options Contracts at Eurex Deutschland 


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:

Derivatives Trading Operations, Tel. +49-69-211-1 12 10, eurextrading@eurex.com

Web:

www.eurex.com

Authorized by:

Randolf Roth


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