Due to growing volume in FX Futures against Rolling Spot Futures, Eurex decommissioned the existing options and introduced an enhanced range of new options which have CFTC approval.
The offering provides clients access to multiple pools of liquidity, whilst also providing central clearing solutions to optimize credit relationships. Trading Members can use the respective future as a hedge instrument and net their cash flows before going into final settlement.
Eurex is discontinuing the legacy FX Options and introducing new monthly options on the following 12 FX futures contracts listed on Eurex: EUR/AUD, EUR/CHF, EUR/GBP, EUR/JPY, EUR/USD, GBP/USD, GBP/CHF, AUD/JPY, AUD/USD, NZD/USD, USD/CHF and USD/JPY.
New features, changes and improvements:
Simulation start: 12 November 2020
Production start: 14 December 2020
The offering provides clients access to multiple pools of liquidity whilst also providing central clearing solutions to optimize credit relationships.
These new products have CFTC approval which enables US participants to participate on the offering.
Items/ Participants Requirement
Details Action Item
Introduction of new options on FX Futures
The new products present modified contract specifications in relation to the existing ones, including more strike prices and more expiration dates. In addition, options on EURJPY are listed again (please note this currency pair was delisted in 2019).
The new FX options are switching from cash settled options on spot to options on cash-settled futures. The new products are treated as plain vanilla products in the same way as before.
Trading and Clearing Members who have FX futures assigned already have automatically the new FX options products assigned on both clearing and trading level.
New members to FX will have to sign up in order to trade these products. If a Clearing Member is unable to support clearing for these products, they will need to deactivate such products. Please note, that futures and options products will be in the same capacity group.
If you require further information, please contact us at firstname.lastname@example.org.
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