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31 Oct 2024

Eurex

Equity Derivatives: Introduction of Equity Options, Single Stock Futures and Single Stock Dividend Futures

Eurex Circular 109/24 Equity Derivatives: Introduction of Equity Options, Single Stock Futures and Single Stock Dividend Futures

1. Introduction

The Management Board of Eurex Deutschland took the following decisions with effect from 11 November 2024:

  • Introduction of 21 Equity Options pursuant to Annex B to the Contract Specifications for Futures Contracts and Options Contracts at Eurex Deutschland (hereafter referred to as: Contract Specifications) pursuant to Attachment 2, 
  • Introduction of one Single Stock Future pursuant to Annex A to the Contract Specifications (Attachment 2),
  • Introduction of 14 Single Stock Dividend Futures pursuant to Annex D to the Contract Specifications pursuant to Attachment 2,
  • Amendment of the term for Novo-Nordisk Single Stock Options (product ID “NON”), pursuant to Attachment 2,
  • Amendment of the Minimum Block Trade Size for ABB Ltd. Single Stock Options (product ID ABBN/ABBE), pursuant to Attachment 2,
  • Amendment of the Contract Specifications pursuant to Attachment 2.

The Executive Board of Eurex Frankfurt AG took the following decision with effect from 2 December 2024:

  • Amendment of the existing Liquidity Provider Programs "Equity 01 - Equity Options and Selected Equity Index Options", “Equity 02 - Single Stock Futures” and "Equity 03 - Single Stock Dividend Futures" with regard to the new products admitted to trading.

To implement the above decisions of Eurex Deutschland, the Contract Specifications will be amended with effect from 11 November 2024, as outlined in Attachment 2.

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: 11 November 2024

2. Required action 

There is no action required for participation.

3. Details 

A.  Product overview

Please refer to Attachment 1 for the product details.

B.  Contract specifications and product parameters

For the detailed contract specifications, please see 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. For detailed information, please refer to the Eurex website under the following links:

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 fees
For the transaction fees for the new products, please refer to the Price List of Eurex Clearing AG under the link:

Rules & Regs > Eurex Clearing Rules & Regulations > 3. Price List

H. 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
I. Liquidity Provisioning

Please refer to the attached Product Specific Supplements (Attachment 3, 4, 5) for details. An overview of Market-Making and Liquidity Provisioning at Eurex can be found on the Eurex website under the following link:

Trade > Market-Making and Liquidity provisioning

Attachments: 

  • 1 – Product overview
  • 2 – Updated Annexes to the Contract Specifications for Futures Contracts and Options Contracts at Eurex Deutschland
  • 3 – Product Specific Supplement (PSS) for Equity Options and Selected Equity Index Options – Equity 01
  • 4 – Product Specific Supplement (PSS) for Single Stock Futures – Equity 02
  • 5 – Product Specific Supplement (PSS) for Single Stock Dividend Futures – Equity 03

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



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