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Equity index derivatives: Planned launch of futures on STOXX USA 500 ESG-X and MSCI USA, World, EM, EAFE and Japan ESG Screened indexes – Preliminary launch details

Release date: 04 Dec 2019 | Eurex Clearing

No. 115/2019 Equity index derivatives: Planned launch of futures on STOXX USA 500 ESG-X and MSCI USA, World, EM, EAFE and Japan ESG Screened indexes – Preliminary launch details

Eurex Clearing Circular 115/19

1.    Introduction

Eurex Clearing plans to offer clearing for further Environmental Social Governance (“ESG”) related equity index derivatives that are to be introduced at Eurex Deutschland (subject to the final admission of the new products to trading).

This circular contains preliminary information on proposed changes and drafts of the updated sections of the relevant Rules and Regulations of Eurex Clearing AG on the introduction of futures contracts on the STOXX USA 500 ESG-X index which are envisaged to come into effect on 10 February 2020.

Futures contracts on MSCI ESG Screened indexes (covering USA, World, EM, EAFE and Japan), that are to be introduced on 2 March 2020 at Eurex Deutschland, are already covered under Eurex Clearing’s framework as derivatives on MSCI Futures and therefore no further amendments are necessary.

Please refer to Eurex circular 119/19 for detailed trading-related information about the new products.

A Eurex Clearing circular containing the final launch announcement as well as the amendments to the Price List and the Clearing Conditions of Eurex Clearing AG will be published at a later stage.

2.    Required action

No action is required by the Clearing Members.

3.    Details of the initiative

ESG equity index futures are based on indices that incorporate Environmental Social Governance criteria into the index methodology. With this launch, Eurex Deutschland extends its ESG segment by adding further regions (USA, World, EM, EAFE, Japan) and index methodologies to its existing offering established in February 2019.

Unless the context requires otherwise, terms used and not otherwise defined in this circular shall have the meaning ascribed to them in the Clearing Conditions or FCM Clearing Conditions of Eurex Clearing, as applicable.

Attachments: 

  • 1 – Amended sections of the Clearing Conditions of Eurex Clearing AG (DRAFT)
  • 2 – Amended sections of the Price List of Eurex Clearing AG (DRAFT)
Recipients:All Clearing Members, Basic Clearing Members, Disclosed Direct Clients of Eurex Clearing AG, vendors, and all FCM Clearing Members and other affected contractual parties
Target groups:Front Office/Trading, Middle + Backoffice, IT/System Administration, Auditing/Security Coordination
Contact:

client.services@eurexclearing.com

Related circular:Eurex circular 119/19
Web: www.eurexclearing.com
Authorized by:Heike Eckert