1. Introduction
To support new Trading Members with an affiliated existing Trading Member, Eurex Frankfurt AG offers a temporary rebate on the connection fees of new Trading Members currently effective from 1 October 2018 to 31 October 2019.
This programme is now extended for the last time until 31 January 2020.
2. Required action
In order to receive the rebates on connection fees, it is required that the new Trading Member has applied for this prior to the respective calendar month. For this purpose, the new Trading Member needs to complete and submit the attached form.
For Trading Members newly admitted to Eurex Deutschland on or after 1 September 2018 (“new Trading Members”), that are affiliated with a company admitted as a Trading Member of Eurex Deutschland before 1 September 2018 (“existing Trading Member”), the connection fees of the new Trading Member will be discounted in accordance with the following rules:
A 50 percent rebate is granted on connection fees (as defined in Numbers 1 and 2 of the Price List to the Connection Agreement of Eurex Frankfurt AG), whereby the total amount of these connection fees to be rebated for a calendar month is limited to:
1. the total amount of the connection fees charged to the affiliated existing Trading Member for the calendar month in which the new Trading Member was admitted (Reference Fee), and
2. the positive difference between (a) the sum of the respective connection fees charged to the new and the affiliated existing Trading Member in the respective calendar month and (b) the Reference Fee.
The table in Attachment 1 illustrates four potential scenarios for the rebate calculation. In this example, the connection fee of the existing Trading Member in September 2018 (e.g. 10,000 EUR) equals the Reference Fee (RF), because the new Trading Member was admitted in September 2018. Therefore, the incentive scheme will be applied to the new Trading Member between October 2018 and January 2020. All amounts in the table are in euro.
Attachments:
Recipients: | All Trading Participants of Eurex Deutschland and Vendors |
Target groups: | Front Office/Trading, Middle + Backoffice, IT/System Administration, Auditing/Security Coordination |
Contact: | client.services@eurexchange.com |
Related Eurex circular: | 064/18 |
Authorized by: | Michael Peters |