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Contract Specifications
Contract size
One EURO STOXX® 50 Index Dividend Futures contract.
Settlement
The exercise of a Mid-Curve Options on an EURO STOXX 50® Index Dividend Futures contract results in the creation of a corresponding position in the EURO STOXX 50® Index Dividend Futures for the option buyer as well as the seller to whom the exercise is assigned, whereby an EURO STOXX 50® Index Dividend Futures contract with a December maturity of one (two, three, four, five) year(s) after the expiration of the One-year (Two-, Three-, Four-, Five-) Mid-Curve Options on EURO STOXX 50® Index Dividend Futures will be delivered.
The position is established after the Post-Trading Full Period of the exercise day, and is based on the agreed exercise price.
Price quotation and minimum price change
The price quotation is in points, with two decimal places. The minimum price change is 0.01 points, equivalent to a value of EUR 1 per contract.
Contract months
Up to 15 months: The five nearest quarterly months of the March, June, September, December cycle thereafter.
Last trading day and final settlement day
Last trading day is the final settlement day. Final settlement day is the third Friday of each expiration month if this is an exchange day; otherwise the exchange day immediately preceding that day. Close of trading in the expiring option series on the last trading day is at 17:30 CET.
Daily settlement price
The daily settlement price is established by Eurex. The daily settlement prices for Mid-Curve Options on EURO STOXX 50® Index Dividend Futures are determined through the Black/Scholes 76 model.
Further details are available in the clearing conditions.
Final settlement price
The final settlement price is established by Eurex on the final settlement day at 17:30 CET based on the final value of the underlying index for the relevant contract period. Determining is the cumulative total of the relevant gross dividends of the constituents of the underlying index.
STOXX Ltd., Deutsche Börse AG as well as SIX Swiss Exchange shall thereby define, according to their regulations, which dividends are to be included in the calculation of the index. Furthermore, the index provider shall define the amount of the dividend to be considered, the point of consideration of the dividend payment and the conversion of the dividends in index points.
Exercise
European-style; an option can only be exercised on the final settlement day of the respective option series until the end of the Post-Trading Full Period (20:30 CET).
Exercise prices
Mid-Curve Options on EURO STOXX 50® Index Dividend Futures have execution prices with intervals in the amount of not less than one point.
Option premium
The premium is settled using the futures-style method.
Block Trades
Admitted to the Eurex Block Trade Service with a Minimum Block Trade Size of 10 contracts
Market-Making Parameter
All quotation parameters at a glance
Mistrade Parameter
This file provides an overview of mistrade ranges for Options and Futures including information on their behavior close to expiration and in stressed markets.
Crossing Parameters
(section 2.6 Eurex Trading Conditions)
(1) Orders and Quotes relating to the same Instrument or Combined Instrument may, in case they could immediately be executed against each other, neither be entered knowingly by an Exchange Trader or several Exchange Traders of an Admitted Company (a “Cross Trade”) nor pursuant to a prior understanding between Exchange Traders of two different admitted companies (a “Pre-Arranged Trade”), unless the conditions according to Paragraph 2 have been fulfilled. The same shall apply for the entry of Orders as part of a Quote.
(2) A Cross Trade or a Pre-Arranged Trade is admissible if a participant in a Cross Trade or a Pre-Arranged Trade Eurex Trading System, announces his intention to execute a corresponding number of Contracts as Cross Trades or Pre-Arranged Trades in the Order Book (“Trade Request”). The buying participant has to ensure that he himself or the selling participant enters the Trade Request. The Order or Quote giving rise to the Cross Trade or Pre-Arranged Trade must be entered one second at the earliest and 121 seconds at the latest after the entry of the Trade Request. Entering a Trade Request without entering the respective Order or Quote is not admissible.
(3) Paragraphs 1 and 2 shall not apply to Transactions consummated during the netting process in an auction (Number 1.4 Paragraphs 2 and Paragraph 3).
(4) The automated entry functionality for Cross Trades or Pre-Arranged Trades of the Eurex Trading System may be used for entering Cross Trades or Pre-Arranged Trades. In this case, announcement and entry of the corresponding Orders pursuant to Paragraph 2 will be automated.
| Pre-Trading | Trading | Post-Trading | |||
|---|---|---|---|---|---|
| Full | Late1 | Late2 | Restricted | ||
| 07:30 | 08:30 | 17:30 | 20:30 |
| Pre-Trading | Trading | Post-Trading | |||
|---|---|---|---|---|---|
| Full | Late1 | Late2 | Restricted | ||
| 07:30 | 08:30 | 17:30 | 20:30 |
Eurex is closed for trading and clearing (exercise, settlement and cash) in all derivatives
No cash payment in CHF
Eurex is closed for trading and clearing (exercise, settlement and cash) in all derivatives
Eurex is closed for trading and clearing (exercise, settlement and cash) in all derivatives
Eurex is closed for trading and clearing (exercise, settlement and cash) in all derivatives
No cash payment in GBP
No cash payment in GBP
No cash payment in CHF
No cash payment in CHF
No cash payment in CHF
No cash payment in GBP
Last trading day for dividend derivatives
Eurex is closed for trading in all derivatives
Eurex is closed for trading and clearing (exercise, settlement and cash) in all derivatives
Eurex is closed for trading and clearing (exercise, settlement and cash) in all derivatives
Eurex is closed for trading in all derivatives
| Fee Type | Fee |
|---|---|
| Exchange transactions: Standard fees (A-, M- and P-accounts) | EUR 0.60 per contract |
| TES transactions / Eurex EnLight: Standard fees (A-, M- and P-accounts) | EUR 0.60 per contract |
| Position Closing Adjustments (A-, M- and P-accounts) | EUR 1.20 per contract |
| Exercise of options (A-, M- and P-accounts) | EUR 0.60 per contract |
| Assignment of options (A-, M- and P-accounts) | EUR 0.60 per contract |
| Position transfer with cash transfer | EUR 7.50 per transaction |
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.
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