Eurex
1. Introduction
Position limits apply only to long positions in the front month contracts of the products concerned. Reporting limits will be valid from 30 August 2024 after close of trading until 3 September 2024 after close of trading.
Position limits will be valid from 4 September 2024, start of trading, until expiration of the September contract on 6 September 2024. Long positions in September 2024 contracts must therefore be within the prescribed limits at start of trading on 4 September 2024.
The measure taken by Eurex Deutschland is based on § 11 Paragraph 1 of the Exchange Rules of Eurex Deutschland (Eurex Exchange Rules). The limits will constantly be monitored intraday by the Trading Surveillance Office of Eurex Deutschland.
2. Required action
In case the position limits have been exceeded, Exchange Participants are obliged according to § 11 Paragraph 5 of the Eurex Exchange Rules to submit a list of long positions in the Eurex C7 Clearing GUI including clear names of the customers to surveillance@eurex.com.
Immediate position adjustments should be made by using the Trade Adjustment function (Open/Close Adjustment) instead of the Position Close-Out, in order to avoid such transactions being subject to late closing fees.
If the position limits are exceeded, the respective Participants will be requested by Eurex Deutschland to specify a Eurex user ID which can be used by Eurex Deutschland to undo the exceeding of the position limits.
3. Details of the initiative
The limits applicable during the reporting limit period are equal to those of the position limits as stated in the table below. The reporting and position limits for the September 2024 contracts in the Euro Fixed Income Futures were set as follows:
Contract name | Position limits |
Euro-Buxl®-Futures (FGBX) | 60,000 contracts |
Euro-Bund-Futures (FGBL) | 70,000 contracts |
Euro-Bobl-Futures (FGBM) | 65,000 contracts |
Euro-Schatz-Futures (FGBS) | 50,000 contracts |
Long-Term Euro-BTP-Futures (FBTP) | 70,000 contracts |
Mid-Term Euro-BTP-Futures (FBTM) | 40,000 contracts |
Short-Term Euro-BTP-Futures (FBTS) | 50,000 contracts |
Euro-OAT-Futures (FOAT) | 70,000 contracts |
Mid-Term-Euro-OAT-Futures (FOAM) | 45,000 contracts |
Euro-Bono-Futures (FBON) | 60,000 contracts |
Further information
Recipients: | All Trading Participants of Eurex Deutschland and Vendors | |
Target groups: | Front Office/Trading, Middle + Backoffice, IT/System Administration, Auditing/Security Coordination | |
Related circular: | Eurex Circular 226/06, 012/23, 035/23, 064/23, 096/23, 015/24, 040/24 | |
Contact: | Rex Jones, Product R&D Fixed Income, tel. +49-69-211-1 78 06, rex.jones@eurex.com Jutta Frey-Hartenberger, Product R&D Fixed Income, tel. +49-69-211-1 49 88, jutta.frey-hartenberger@eurex.com | |
Web: | www.eurex.com | |
Authorized by: | Michael Peters |
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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