A member of
Eurex
1. Introduction
The Management Board of Eurex Deutschland took the following decision with effect from 5 May 2025:
The Executive Board of Eurex Frankfurt AG took the following decision with effect from 5 May 2025:
To implement the above decisions of Eurex Deutschland, the Contract Specifications will be amended with effect from 5 May 2025, as outlined in Attachments 1 and 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: 5 May 2025
2. Required action
For trading these new products, Trading Participants are required to be assigned the respective capacities “Physical EUR” and/or “Physical ETFs USD”. There is no action required from Trading Participants who are already assigned these capacities. In case of any questions, please get in touch with your Key Account Manager directly or contact client.services@eurex.com.
3. Details
A. Product overview
Name of ETP | Underlying ISIN | Technical ISIN | Ticker | Currency | Market |
iShares Physical Bitcoin (EUR) | XS2940466316 | n/a | IB1T GY | EUR | XETR |
iShares Physical Bitcoin (USD) | XS2940466316 | DE000A4ALRQ7 | BTCN NA | USD | XAMS |
Product name | Product ISIN | Eurex ID | Contract size | Tick size | Min. Block Trade size | Capacity Group |
Options on iShares Physical Bitcoin (EUR) | XS2940466316 | IB1T | 100 | 0.01 | 100 | Physical EUR |
Options on iShares Physical Bitcoin (USD) | DE000A4ALRQ7 | BTCN | 100 | 0.01 | 100 | Physical ETFs USD |
B. Contract specifications and product parameters
For the detailed contract specifications, please see Attachments 1 and 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 T7 Entry Services (TES)
The new products will be admitted to the T7 Entry Services (TES). You can find the minimum block trade sizes on product level in the attached Contract Specifications (Attachment 2).
An overview of the T7 Entry Services available for the products as well as detailed information on single product basis with regard to availability, possibility of utilization and minimum entry size for the 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 link:
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 > Excessive System Usage Fee
Rules & Regs > 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 links:
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 Supplement (Attachment 3) 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:
Further information
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.
We strongly recommend not to take any decisions based on the indications in the market status window but to always check the production news board for comprehensive information on an incident.
An instant update of the Market Status requires an enabled up-to date Java™ version within the browser.