Eurex
1. Introduction
The Executive Boards of Eurex Frankfurt AG and Eurex Clearing AG took the following decisions with effect from 9 September 2024:
The PSS will be provided as a single PDF files on the Eurex website www.eurex.com under the following link:
Trade > Market-Making and Liquidity provisioning.
2. Required action
There is no action required for participation for the Trading Participants.
3. Details
To further support the adoption of the existing Credit Index Futures product suite, Eurex has introduced as of 1 September 2024 two new Liquidity Provider Schemes:
Moreover, to stimulate trading activity in the new USD Credit Index Futures, Eurex will introduce as of 23 September 2024 a new Liquidity Provider Scheme: “Fixed Income 21 – Eurex USD Credit Index Futures”, covering Bloomberg US Corporate Index futures (FUIG) and Bloomberg US High Yield Very Liquid Index futures (FUHY).
In order to further promote liquidity provision in Eurex Credit Index Futures, Eurex will amend, with effect from the month of September 2024, the measurement of the Performance Volume in Credit Index futures used to rank Liquidity Providers in the Liquidity Providers scheme.
In particular, for the calculation of the eligible volume, only trades executed in the M-account and in the front month expiry will be considered. Additionally, during the last five exchange days prior to the expiration day of the front month, the volume traded in the M-account in the second expiration month will also be considered as eligible volume.
For the calculation of the Net Average Open Position, only Open Positions in the M-account and in the front month expiry will be considered. Similarly, during the last five exchange days prior to the expiration day of the front month, the Open Positions held in the M-account in the second expiration month will also be considered as eligible Open Positions.
Therefore, any open positions and traded volumes in the third expiration month, as well as in the second expiration month (except during the five exchange days prior the front month expiry day), will not be eligible for the calculation of the performance volume.
Please refer to the Product Specific Supplements (PSS) which are available on the Eurex website under the following link:
Trade > Market-Making and Liquidity provisioning
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.
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 | |
Related circulars: | Eurex Circulars 079/24, 072/24, 116/23, 086/22, 060/21 | |
Contact: | Pricing & Market Making, eurex.pricing@eurex.com | |
Web: | ||
Authorized by: | Randolf Roth |
Market Status ⓘ
XEUR
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