Eligible product combinations of Fixed Income Futures for Exchange for Physicals facility are:

All debt securities, which show a price correlation to exchanged fixed income futures and a spread correlation to exchanged credit futures so that the respective futures contract describes an appropriate hedge instrument for cash transactions, may be part of an EFP trade.

Non-Eurex fixed income futures within this meaning are all fixed income futures traded outside the Eurex exchanges whose design does not correspond to the essential specifications of the fixed income futures traded on the Eurex exchanges.

The underlying cash transaction of the EFP trade must be denominated in a currency of the OECD member states.

Both contract parties are obligated to provide proof of the completed cash transaction if requested by a supervisory authority.

The Exchange for Physicals (EFPI) facility is available for the following combinations of Eurex equity index futures and admitted underlying instruments:

Generally, for EFPI trades the following constellations are possible:

• Two participants conclude both the off-exchange cash transaction as well as the futures transaction with one another or
  
• Two participants conclude the futures transaction with one another.
  

One participant is an official Market Maker (Authorized Participant) for exchange-traded index fund shares who concludes the respective cash transaction with the ETF issuer. The second participant concludes the respective cash transaction with one third party or more third parties (auction). The cash transactions concluded by the contractual parties of a futures transaction do not have to relate to an identical transaction object. A combination of two futures trades of the same product is admitted.

Cash transactions with respect to EFPI trades are equity baskets or exchange-traded index fund shares with the following characteristics:

• The nominal value of the equity basket/exchange-traded index fund share has to amount to one third of the transaction value of the minimum transaction volume for a Block Trade transaction in the respective equity index futures ((index level x contract value x minimum Block Trade transaction volume)/ 3) and must not deviate from the nominal value of the futures position by more than 20 percent.
  
• The equity basket/exchange-traded index fund share must consist of at least ten different index components or a number of equities that represent at least half of the equity index underlying the futures contract.
  
• The nominal value of that part of the equity basket/exchange-traded index fund share, whose components are part of the equity index underlying the futures contract, must be at least 20 percent of the nominal value of the entire cash transaction.
  
• All components of the equity basket/exchange-traded index fund share must be part of the STOXX® Europe TMI Index, the Dow Jones Global Titans 50 IndexSM (EUR/USD), the Dow Jones Sector Titans IndexesSM, the RDX® USD Index, the MSCI Russia Index or the MSCI Japan Index.
  

The number of traded futures contracts must have a specific correlation to the nominal value of the equity basket/exchange-traded index fund so that the futures are a suitable instrument for hedging the cash market transaction.

Please note that both parties are obligated to provide evidence of cash transactions if requested to do so by supervisory authorities.

Cash transactions in EFPI trades with Eurex agriculture futures must fulfill the following characteristics:

• The cash transaction must base on a written agreement containing the agreements on the product to be delivered, the delivery date and delivery place as well as the amount to be delivered.
  
• The object of purchase of the cash transaction shall correspond to the product the agricultural index refers to, such index forming the underlying of the respective agriculture futures contract.
  
• Volume of the cash transaction must refer to at least 2,500 decitonnes potatoes, to 80 tons slaughtering weight and to 1,000 piglets or to 5 tons butter respectively skimmed milk powder.