Non-Disclosure Facility for Wholesale Trades

The intra-day non-disclosure functionality of large OTC Block Trade volumes has been implemented into the Eurex® system since Eurex Release 9.0.

The functionality was activated for OTC Block Trades in Single Stock Futures on January 14, 2009, and for equity options on January 28, 2010. The limit for non disclosure is set to 1,000 contracts for Single Stock Futures; for equity options there are five threshold values as of and including sizes of 1,001, 2,501, 5,001, 10,001 and 20,001 contracts.

Reaching or exceeding of these threshold values Block Trades will not be disclosed by the Eurex® system. For this service Eurex does not charge additional fees.

After the batch run, reports will also contain updated volumes, including the ones that were not displayed. Also, all Block Trades (including price and quantity) that exceeded the non-disclosure limit can be requested in the "Online Time and Sales Sheet" by using the function "Select, Trading Filter" and by entering the date of the previous day.

Transactions which were entered via the Multilateral Trade Registration facility will not be affected by the intra-day non-disclosure limit for equity options. These transactions will be displayed intra-day, as before.

Further information is published in Circular 306/08, 236/09 as well as 018/10; the product list containing the corresponding non-disclosure limits can be found here.