Flexible Contracts

The Flexible Contracts facilities support off-exchange trading of tailor-made futures and options contracts. This allows traders to customize their trades to meet their individual needs.

In this way, Eurex members benefit from the flexibility of off-exchange trading and at the same time take advantage of the efficiency and safety of standardized clearing and settlement processes.

Eurex products across various asset classes are offered via the Flexible Contracts facilities. The minimum trading size for Flexible Contracts is identical to the minimum Block Trade size of the respective product.

Flexible Futures

The Flexible Futures facility is available for

• Single Stock Futures
• Equity Index Futures
• Futures on ETFs
• Gold & Silver Futures
• Exchange Traded Commodities Futures
• Commodity Index Futures

Market participants can design Flexible Futures trades by selecting:

• Flexible Maturity
  Participants of a Flexible Futures trade can create their own maturity date for the transaction. Individual maturity dates can be as early as the next exchange day or as far out as the maturity date for the most distant respective standard futures contract.
• Settlement Type
  In trades with Single Stock Futures members have the ability to negotiate the terms of settlement at time of conclusion (cash settlement or physical delivery).

Flexible Options

The Flexible Options facility is available for

• Options on Fixed Income Futures
• Equity Options / Low Exercise Price Options (LEPOs)
• Equity Index Options
• Options on ETFs
• Gold & Silver Options
• Exchange Traded Commodities Options

Market participants can design Flexible Options by selecting:

• Exercise Price
  The selected exercise price can be defined above the highest exercise price of the corresponding regular option series or may be the lowest exercise price of an option (e.g. LEPOs) which can be represented in the Eurex® system or an intermediate price. Maximum exercise prices are limited to 2.5-times the highest available standard expiries in the respective product.
• Expiration Date
  The expiration date can be any exchange day (with some special Eurex defined exceptions) starting from the next exchange day until the longest currently active standard expiration date of the respective product.
• Exercise Style
  American-style (exercise on any exchange day during the lifetime of the option) or European-style (exercise only on the Last Trading Day of the option) can be specified.
• Settlement Type
  In trades with equity and ETF options members have the ability to negotiate the terms of settlement at time of conclusion (cash settlement or physical delivery).

Clearing Features

Eurex Clearing AG offers a series of back office features for Flexible Contracts to support back office processing.

• Give-up / Take-up functionality
• Position Transfer
• Trade Separation
• Close out / Partial Close-out
• Exercise / Partial Exercise

Further Information regarding Eurex Flexible Contracts

Details about how to use the Flexible Contracts facility, further product information and an overview of the available Flexible Futures and Flexible Options products can be found in the attached documents:

Members able to trade and/or clear Eurex Flexible Contracts

The following Eurex members can be contacted for trading and/or clearing Flexible Futures and Flexible Options.