Eurex
1. Introduction
The Management Board of Eurex Frankfurt AG took the following decision with effect from 12 June 2023:
As of 12 June 2023, Eurex Frankfurt AG will rename the currently applicable measurement unit of the bid-ask spread "TICK" to the unit "ABS" (absolute) to be used in the future within the listed reports and documents, which are available on the Eurex website www.eurex.com under the following links:
Trade > Market-Making and Liquidity provisioning
Markets > Product Overview > [ Product ] > Specifications > Mistrade Ranges (exemplary)
The renaming explicitly does not imply any change in the parameters already used in the files. It is merely an editorial name change.
2. Required action
In the event that the above-mentioned measurement unit of the bid-ask spread is used by the recipients of this circular as a reference or as a basis for further calculations in other files, these should be checked accordingly and adjusted if necessary.
3. Details of the initiative
In particular, the measure is intended to clarify possible misunderstandings in the interpretation of the previous measurement unit of the bid-ask spread "TICK". In the future, the bid-ask spread will therefore be unequivocally measured either as the absolute difference between a bid and an ask price, taking into account the respective product specifications, or as a percentage depending on the bid price.
This change does not cause any changes to the set parameters, but only represents an editorial change. The associated renaming of the measurement unit of the bid-ask spread in the Product Specific Supplements (PSS) has already been announced in Eurex Circular 125/22.
Further information
Recipients: | All Trading Participants of Eurex Deutschland and Vendors | |
Target groups: | Front Office/Trading, Middle + Backoffice, IT/System Administration, Auditing/Security Coordination | |
Related circulars: | ||
Contact: | Eurex Pricing, eurex.pricing@eurex.com | |
Web: | www.eurex.com | |
Authorized by: | Randolf Roth |
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