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FAQ on MiFID II/MiFIR: changes in minimum Block Trade sizes for Eurex products

Release date: 19 Dec 2017 | Eurex Exchange

FAQ on MiFID II/MiFIR: changes in minimum Block Trade sizes for Eurex products

On 8 December 2017, Eurex Exchange published the revised minimum Block Trade sizes (MBTS) to ensure all Trade Entry Services (TES) trades qualify for pre-trade transparency waivers under MiFIR regulations (Circular 140/17). Please see below a list of answers to the most frequently asked questions:

Can you provide the full list of Eurex products with MBTS?

The full list of individual TES profiles for simple instruments and strategies is available on the Eurex Exchange website; new levels to be updated as of their respective date, i.e. the file of 3 January will reflect all changes. For your convenience, please find below the list of affected products in XLS format.

What about products not mentioned in the Circular 140/17?

MBTS for products not mentioned in the circular remain unchanged.

Where to find the original ESMA LIS requirements?

See Annex I of regulatory technical and implementing standards.

How do ESMA threshold values for options translate into number of contracts?

ESMA threshold value divided by(option contract size x underlying EUR price).

Was there any decrease in the MBTS?

No. There have been only increases in MBTS. Despite the MBTS for many products being considerably above ESMA thresholds, a decrease in levels was not conducted.

How does MBTS apply for package trades, e.g. involving options and futures?

MBTS applies to the option leg of the trade.

What if more clarification is required?

Please contact the respective sales representative in your area.

 

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