Mistrades

A mistrade is a trade which was erroneously entered, and which deviates considerably from the market price, defined as the reference price. The procedures for determining the reference price for each product can be found in the Implementation Regulations for the Handling of Erroneous Entries at Eurex Deutschland and Eurex Zurich.

For options, an entry may be deemed a mistrade if it deviates from the reference price by more than the maximum quote spread for the option priced at the reference price. For futures, product-specific ranges are defined by the exchange. Mistrade parameters may be found in the implementation regulations, and will be published periodically by circular.

In the event of causing a mistrade, a trader should immediately contact the trading helpdesk (Eurex Market Supervision) and identify the mistrade.

Any objection to the contents of a transaction confirmation must be delivered to Eurex Market Supervision, in writing or by fax, not later than 30 minutes after the trade.

The final determination of a mistrade is made by the Boards of Management of Eurex. If it is decided that a trade is a mistrade, it is cancelled, and the transaction is removed from the books of both the buyer and the seller. Cancellation is achieved through the processing of a counter-transaction at the price of the mistrade. Also, a handling fee is charged to the member who caused the mistrade.

Further information regarding Eurex Wholesale Trading Facilities

Name	Effective Date	File Size	File
Phonetic Alphabet for Wholesale Trading Facilities	28 Jan 2008	22 kB