A member of
Eurex
1. Introduction
The Executive Boards of Eurex Frankfurt AG and Eurex Clearing AG took the following decisions with effect from 1 August 2024:
2. Required action
Liquidity Providers should adapt their quotation behavior accordingly.
3. Details of the initiative
A. Amendments to the PSS “Fixed Income 17 - Three-Month Euribor Futures and Three-Month Euro STR Futures"
The additional incentive component based on the open interest in Three-Month Euro STR Futures introduced on 1 July 2024 will be extended for the month of August 2024, as described in section 4.1. of the PSS "Fixed Income 17 - Three-Month Euribor Futures and Three-Month Euro STR Futures", as of 1 August 2024 with updated parameters.
B. Temporary fee waiver for services under the Connection Agreement
All Trading Participants, who qualify under the participation condition according to Sec 4.1. of the PSS “Fixed Income 17 – Three-Month Euribor Futures and Three-Month Euro STR Futures” - as amended from time to time - will not be charged, as of 1 August 2024, for their first Full High-Frequency ETI Sessions for each of the products (Three-Month Euribor Futures (Product ID: FEU3) and Three-Month Euro STR Futures (Product ID: FST3)) for the month in which the participation condition was fulfilled.
Example:
If a Trading Participant qualifies only for “FEU3” according to Sec 4.1. of the PSS, they will be not charged for the first Full High-Frequency ETI session.
If a Trading Participant qualifies for both products (“FEU3” and “FST3”) according to Sec 4.1. of the PSS, they will not be charged for the first two Full High-Frequency ETI sessions.
Trading Participants who already qualify under the FX session fee waiver, as described in Eurex Circulars 024/21 and 090/21, will not be charged for up to their first nine (up to seven based on FX and up to 2 based on STIR) Full High-Frequency ETI sessions for the month in which the Trading Participants (a) fulfills the Basis Building Block requirements for the products FCEU (EUR/USD Future) or EUCO (Option on the EUR/USD Future), according to the respective PSS "Foreign Exchange 01 - FX Futures and FX Rolling Spot Futures" and "Foreign Exchange 02 - Options on FX Futures" - in the respective valid version – and (b) qualify under the participation condition according to Sec 4.1. of the PSS “Fixed Income 17 - Three-Month Euribor Futures and Three-Month Euro STR Futures” – in the respective valid version.
This session fee waiver for “FEU3” and “FST3” is valid until 31 December 2024. Eurex Frankfurt AG shall have the right to terminate or adjust this incentive at any time with a one-month notice.
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 version of the PSS documents is also available in PDF format on the Eurex website www.eurex.com under the following path:
Trade > Market-Making and Liquidity provisioning
Attachment:
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: | Market Development & Pricing, eurex.pricing@eurex.com | |
Web: | Trade > Market-Making and Liquidity provisioning | |
Authorized by: | Randolf Roth |
Market Status ⓘ
XEUR
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