Eurex
1. Introduction
The Management Board of Eurex Deutschland took the following decisions with effect from 8 July 2024:
The Executive Board of Eurex Frankfurt AG took the following decision with effect from 1 August 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: 8 July 2024
2. Required action
Participants interested to trade Nordic Single Stock Derivatives denominated in local currency (SEK/DKK) will need to fill in and submit the completed “Application for Participation in Trading Single Stock Derivatives (Scandis)” form. For more information on the assignment for capacity groups “Physical SEK”, “Physical SEK – CBF/T2S”, “Physical DKK”, please refer to Attachment 1.
Please ensure that the Settlement Account Settings are set up correctly with the dedicated settlement account information for Nordics to enable sufficient delivery handling.
For further assistance please reach out to your respective Key Account Manager or client.services@eurex.com.
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 Options 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.
For the detailed Contract Specifications, please see Attachments 2 and 3.
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. Transaction Size Limits (TSL) Product Group
Two new TSL Product Groups will be created “SSODK” for Single Stock Options denominated in DKK and “SSONO” for Single Stock Options denominated in NOK.
Please note, “SSONO” TSL Product Group refers to the Norwegian Single Stock Options in NOK that will be launched at a later stage.
E. C7 Capacity and Product Group
Please refer to the respective table in Attachment 1.
F. 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.
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 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
H. 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
I. 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
J. Transaction fees
The transaction fees, as shown in Attachment 1, shall apply to the new Nordic Equity Options.
The full version of the updated Price List of Eurex Clearing AG will be published on the Eurex Clearing website www.eurex.com/ec-en/ under the link:
Rules & Regs > Eurex Clearing Rules & Regulations > 3. Price List
K. 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
L. Liquidity Provisioning
Please refer to Attachments 1 and 4 for the Liquidity Provisioning. Detailed information for Market Making and liquidity provisioning at Eurex Deutschland can be found on the Eurex website under the following link:
Trade > Market-Making and Liquidity provisioning
M. Products to be delisted
Please refer to Attachment 1 for the products to be delisted.
N. Corporate action adjustment: Change of product and underlying ISIN for listed Swedish Stock Options
Please refer to Attachment 1 for the respective table.
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: | client.services@eurex.com | |
Web: | www.eurex.com | |
Authorized by: | Randolf Roth |
Market Status ⓘ
XEUR
The market status window is an indication regarding the current technical availability of the trading system. It indicates whether news board messages regarding current technical issues of the trading system have been published or will be published shortly.
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.
We strongly recommend not to take any decisions based on the indications in the market status window but to always check the production news board for comprehensive information on an incident.
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