A member of
Eurex
1. Introduction
This circular informs you about amendments to the
In addition, the Management Board of Eurex Deutschland has set out details for the registration of Third-Party Software and Independent Software Providers (ISVs) and for testing Third-Party Software (see 3.A. below).
The changes to the rulebooks will come into effect on different dates. Please find the details below.
Above-mentioned Amendment Ordinances are attached to this circular. The amended rulebooks including the corresponding Amendment Ordinances are available for download on the Eurex website www.eurex.com under the following link: Rules & Regs > Eurex Rules & Regulations
Unless specified otherwise, the amendments will come into effect on 17 March 2025.
2. Required action
Third-Party Software must be tested and registered. Third-Party Software that an Admitted Company obtains from an Independent Software Provider for connection to the Exchange EDP can only be registered if the Independent Software Provider has also registered with Eurex Deutschland. Details about the registration of Third-Party Software and Independent Software Providers as well as the testing of Third-Party Software are outlined under 3.A.
3. Details
A. Obligation to register Third-Party Software and Independent Software Providers and obligation to test Third-Party Software
§ 53 Number 2 of the Exchange Rules stipulates that Admitted Companies must have registered Third-Party Software (as defined in Annex I to the Exchange Rules) prior to its connection to the Exchange EDP of Eurex Deutschland. Third-Party Software that an Admitted Company obtains from a software provider (so-called Independent Software Provider ("ISV")) for connection to the Exchange EDP can only be registered if the ISV has also registered with Eurex Deutschland. Registrations must be carried out via an electronic platform provided by Eurex Deutschland for this purpose ("Member Section" portal).
According to § 53 Number 3 of the Exchange Rules, Third-Party Software must have been sufficiently tested before its use to ensure that it cannot impair orderly exchange trading.
The Management Board of Eurex Deutschland has set out more detailed provisions for the method of registration and testing which can be retrieved from Attachment 3.
To ensure orderly exchange trading, § 53 Number 4 of the Exchange Rules authorises the Management Board of Eurex Deutschland, among other things, to prohibit the connection of Third-Party Software to the Exchange EDP and to interrupt an existing connection of Third-Party Software.
The amendments will come into effect on 30 June 2025.
B. Total Return Futures Strategies as a Complex Instrument
Number 2.2 of the Conditions for Trading shall be extended to the effect that Trading Participants will also be offered Total Return Futures Strategies for trading. Accordingly, Number 2.2.9 of the Conditions for Trading will be included in the list of Complex Instruments.
C. Mistrade ranges for standardised Options Volatility Strategies
For the purpose of clarification, the regulation for calculation of mistrade ranges for standardised Options Volatility Strategies under Number 2.9.5 (3) of the Conditions for Trading shall be amended.
D. Minimum order size for Block Trades in off-book trading
Number 4.3 Paragraph 1 Sub-Paragraph 2 of the Conditions for Trading shall be deleted. This provision currently stipulates that when entering an order for a Block Trade, the minimum order volume must be met for each of the clients.
The deletion of this provision is not precluded by any legal or regulatory provisions.
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: | Jonas Ullmann |
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.
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