Exercise/Assignment Enhancement

In Eurex Release 12.0, an optional four-eye principle will be implemented to provide checks when users opt to:

• Exercise out-of-the-money options
• Abandon positions from automatic exercise

Security Administrators can set Resource Access Levels (RAL) for each user. These RALs specify whether a given user is permitted to enter the aforementioned transactions. Qualified back office users can enter the four-eye principle for other users. Users can be permitted, partially permitted or prohibited. Permissions can be set according to the following levels:

• Not at all
• Four-eye approval is required
• No four-eye approval required

With the introduction of Eurex Release 12.0, Eurex will convert the individual user RAL settings with respect to the above actions. The respective conversion will be described in the Eurex Release 12.0 Release Notes.

The Security Administrator may change these individual user settings according to the company's policy after the launch of Eurex Release 12.0.