Service Navigation

Equity derivatives: Introduction of Single Stock Futures and equity options; withdrawal of admission of Single Stock Futures, equity options and Single Stock Dividend Futures

Release date: 17 Jan 2020 | Eurex Exchange

005/2020 Equity derivatives: Introduction of Single Stock Futures and equity options; withdrawal of admission of Single Stock Futures, equity options and Single Stock Dividend Futures

Eurex Circular 005/20

1. Introduction

The Management Board of Eurex Deutschland took the following decisions with effect from 27 January 2020:

  • Introduction of 15 Single Stock Futures pursuant to Annex A of Attachment 2; 
  • Introduction of 14 equity options pursuant to Annex B of Attachment 2;
  • Withdrawal of admission of 15 Single Stock Futures pursuant to Annex A of Attachment 2;
  • Withdrawal of admission of five equity options pursuant to Annex B of Attachment 2;
  • Withdrawal of admission of twelve Single Stock Dividend Futures pursuant to Annex D of 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: 27 January 2020

2. Required action

There is no required action for participation.

3. Details

A.  Product overview

Please refer to Attachment 1 for the Eurex products that will be introduced.

B.  Contract specifications and product parameters

In general, contract specifications for the new Single Stock Futures and equity options are in line with the existing contracts with the relevant Eurex group ID, also in terms of trading hours and trading calendar, last trading day, settlement and determination of the daily and final settlement prices.

For the detailed contract specifications please see Attachment 2. The order of the respective contracts shown in Annexes A, B and D (Attachment 2) does not correspond to the order of the contracts in the complete Contract Specifications for Futures Contracts and Options Contracts at Eurex Deutschland. The bundling of the contracts in Attachment 2 has only been made in order to provide more clarity.

The full version of the updated Contract Specifications for Futures Contracts and Options Contracts at Eurex Deutschland will be published on the Eurex website www.eurexchange.com as of start of trading under:

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 attached Contract Specifications (Attachment 2).

An overview of the Eurex T7 Entry Services available for the products as well as detailed information on single product basis with regard to availability, possibility of utilisation and minimum entry size for the various Eurex T7 Entry Services is available on the Eurex website under the link:

D.  Risk parameters

As of start of trading, risk parameters of the new products will be published on the Eurex website under the link:

and on the Eurex Clearing website www.eurexclearing.com under the following path:

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 are determined in line with the existing equity derivatives (FSTK and OSTK). For detailed information, please refer to the Eurex website under the following links: 

F.  Mistrade parameters

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 limits

The same values apply as for existing products with the relevant Eurex group ID. For details, please refer to the Eurex website under the link:

H.  Transaction fees

The same transaction fees apply as for the corresponding existing products.

I.  Vendor codes

At start of trading, vendor codes for the new products will be published on the Eurex website under the link:

J.  Liquidity Provisioning

Please refer to Attachment 1 for the Liquidity Provisioning for the new products.

Attachments:

  • Attachment 1 – Details regarding the new products and Liquidity Provisioning 
  • Attachment 2 – Updated sections of the Contract Specifications for Futures Contracts and Options Contracts at Eurex Deutschland 


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@eurexchange.com
Authorised by:Michael Peters