Eurex Clearing
1. Introduction
To increase the efficiency in DAX® (FDAX), Mini-DAX® (FDXM) and (EURO) STOXX® Banks Sector Index Futures (FESB/FSTB), the tick size in futures for outright or calendar spreads of these products will be changed effective 21 December 2020.
In this context, the transaction fees in FDAX, FDXM, FESB and FSTB will be amended and reflected in the Price List of Eurex Clearing AG (Price List). The amendments will come into effect as of 4 January 2021.
Please refer to Eurex circular 057/20 for detailed trading-related information.
2. Required action
There are no required actions for the Participants.
3. Details of the initiative
A. Amendments to the Price List
Effective 21 December 2020, the tick size in futures for outright or calendar spreads of the products FDAX, FDXM, FESB and FSTB will be changed as follows:
Product ID | Tick size outright contract (simple instrument) in index points | Tick size outright contract (simple instrument) in index points | Tick size calendar contract (standardised futures strategies) in index points OLD | Tick size calendar contract (standardised futures strategies) in index points NEW | ||
FDAX | 0.5 | 1.0 | 0.5 | 0.5 | ||
FDXM | 1.0 | 1.0 | 1.0 | 0.5 | ||
FESB | 0.1 | 0.05 | 0.02 | 0.02 | ||
FSTB | 0.1 | 0.05 | 0.02 | 0.02 |
In this context, the standard fees in FDAX, FDXM, FESB and FSTB will be amended effective 4 January 2021.
To reflect the amendments, the following provisions of the Price List will be amended as outlined in the Attachment 1:
B. Draft Price List
Due to the changes of the tick size in futures for outright or calendar spreads of FDAX, FDXM, FESB and FSTB (mentioned in A.) further amendments of the transaction fees in these products are planned for 3 January 2022.
For information purposes, Eurex Clearing therefore also publishes with this circular the draft amendments to the Price List planned for 3 January 2022.
To reflect the draft amendments, the following provisions are envisaged to be amended in the Price List as outlined in the Attachment 2:
A circular containing the final amendments to the Price List will be published at a later stage.
As of the effective date, the full version of the amended Price List will be available for download on the Eurex Clearing website www.eurexclearing.com under the following link:
Resources > Rules and Regulations > Price list
The changes and amendments to the legal framework of Eurex Clearing published by this circular are deemed accepted by each affected contractual party of Eurex Clearing AG, unless the respective contractual party objects by written notice to Eurex Clearing AG within the first ten (10) Business Days after publication. Any ordinary right of Eurex Clearing AG to terminate the respective contract (including a Clearing Agreement, if applicable) shall remain unaffected.
Unless the context requires otherwise, terms used and not otherwise defined in this circular shall have the meaning ascribed to them in the Clearing Conditions or FCM Clearing Conditions of Eurex Clearing AG, as applicable.
Attachments:
1 – Amended sections of the Price List of Eurex Clearing AG
2 – Draft Price List of Eurex Clearing AG
Further information
Recipients: | All Clearing Members, Basic Clearing Members, Disclosed Direct Clients of Eurex Clearing AG, vendors, all FCM Clearing Members and other affected contractual parties |
Target groups: | Front Office/Trading, Middle + Backoffice |
Contact: | client.services@eurexclearing.com |
Web: | www.eurexclearing.com |
Related circular: | Eurex circular 057/20 |
Authorised by: | Jens Janka |
