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31 Mar 2025

Eurex

Money Market Derivatives: Amendment of the Liquidity Provider Programs and temporary transaction fee waivers for “Three-Month EURIBOR Futures and Three-Month Euro STR Futures"

Eurex Circular 025/25 Money Market Derivatives: Amendment of the Liquidity Provider Programs and temporary transaction fee waivers for “Three-Month EURIBOR Futures and Three-Month Euro STR Futures"

1.  Introduction

The Executive Boards of Eurex Frankfurt AG and Eurex Clearing AG took the following decision with effect from 1 April 2025:

  • to amend the Product Specific Supplement (PSS) „Fixed Income 17 – Three-Month Euribor Futures and Three-Month Euro STR Futures“ as shown in the Attachment. 

The Executive Board of Eurex Clearing AG decided with effect from 1 April 2025:

  • to waive all P- and A- Account transaction fees in Futures Contracts on Three-Month Euribor (FEU3), Three-Month Euro STR (FST3), Options on Three-Month Euribor Futures (OEU3) and One-to-Four-Year Euribor Mid-Curve Options Contracts (OEM 1-4) pursuant to Number 3.1 of the Price List of Eurex Clearing AG.
  • The fee waivers on P- and A-Accounts will be applicable until end of June 2025.

2.  Required action

Liquidity Providers should adapt their quotation behavior accordingly.

3.  Details of the initiative

A. Product Specific Supplement (PSS) „Fixed Income 17 – Three-Month Euribor Futures and Three-Month Euro STR Futures”

The amendments primarily focus on the additional incentive component based on the open interest in Three-Month Euro STR Futures initially introduced on 1 July 2024 which will be extended for the month of April 2025, 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 April 2025 with updated parameters. Please be aware that new quotation requirements with effective date 1 April 2025 have already been published with Eurex Circular 018/25

The amendments will be deemed to have been approved if the Liquidity Provider does not lodge objections with Eurex Frankfurt AG and Eurex Clearing AG within two (2) weeks of notification of the amendment, by means of this circular pursuant to Number 4 (2) of the Liquidity Provider Agreement. 

The current versions of the PSS documents are also available in PDF format on the Eurex website www.eurex.com​ under the following path:

Trade > Market-Making and Liquidity provisioning

B. Temporary transaction fee waivers for P- and A-Account transactions

Eurex Clearing AG will waive the transaction fees for P- and A-Accounts in Futures Contracts on Three-Month Euribor (Product ID: FEU3), Three-Month Euro STR (Product ID: FST3), Options on the Three-Month Euribor Futures (Product ID: OEU3) and One-to-Four-Year Euribor Mid-Curve Options Contracts (Product ID: OEM1-4) pursuant to Number 3.1 of the Price List of Eurex Clearing AG.

This fee waivers will be effective from 1 April 2025 until 30 June 2025 for P- and A-Account transactions.


Attachment:

  • Amended PSS “Fixed Income 17 – Three-Month Euribor Futures and Three-Month Euro STR Futures”​


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 018/25

Contact: 

Market Development & Pricing, eurex.pricing@eurex.com

Web: 

Trade > Market-Making and Liquidity provisioning

Authorized by: 

Randolf Roth


Market Status

XEUR

4 April 2025

5:29:16 AM


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