VSTOXX

(OVS2)

  • Bloomberg L.P.
    FVSA <INDEX> OMON
  • Refinitiv
    0#FVS2+
  • Currency
    EUR
  • Product ISIN
    DE000A2BM405
  • Underlying ISIN
    DE000A0Z3CW9

Prices/Quotes

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Statistics

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Specifications

Contract Specifications

Contract standards

    
ContractProduct IDUnderlyingCurrency
Options on VSTOXX® FuturesOVS2VSTOXX® FuturesEUR


Contract value

EUR 100 per volatility index point.


Settlement

Physical delivery of the underlying. The underlying matures on the same exchange day and will be settled in cash.


Price quotation and minimum price change

The price quotation is in index points with three decimal places. The minimum price change is 0.025 index points, equivalent to a value of EUR 2.50.


Contract months

Up to 8 months:The eight nearest successive calendar months.


Last trading day and final settlement day

Last trading day is the final settlement day. Final settlement day is 30 calendar days before the expiration day of the underlying options (i.e. 30 days before the third Friday of the expiration month of the underlying options, if this is an exchange day). This is usually the Wednesday before the second last Friday of the respective expiration month, if this is an exchange day; otherwise the exchange day immediately preceding that day. Close of trading in the maturing futures on the last trading day is at 12:00 CET.


Daily settlement price

The daily settlement price is established by Eurex. The daily settlement prices for Options on VSTOXX® Futures are determined through the Black/Scholes 76 model.

Further details are available in the clearing conditions.


Final settlement price

The final settlement price is established by Eurex on the final settlement day, based on the average of the index values of the underlying on the last trading day between 11:30 and 12:00 CET.


Exercise

American-style; an option can be exercised up to the end of the Post-Trading Full Period (20:30 CET) on any exchange day during the lifetime of the option.


Exercise prices

All option series have exercise prices with price gradations in the amount of not less that one point.


Number of exercise prices

Upon the admission of a contract, at least fifteen exercise prices shall be made available for each term for each call and put, such that seven exercise prices are in-the-money, one is at-the-money and seven are out-of-the-money.


Futures-style premium
The premium payment is not made through a one-time payment after the purchase of the option; instead it is part of the daily settlement process during the duration of the option position based on a mark-to-market valuation of the position on each exchange day. The valuation is made on the day on which the transaction is entered into on the basis of the difference between the option price and the daily settlement price, and thereafter on the basis of the difference between the daily settlement prices of the current exchange day and the preceding exchange day. The daily settlement may also result in an interim debit of the writer. Upon exercise and assignment of the option, as well as upon its expiration, a final premium payment shall be made in an amount equivalent to the daily settlement price of the options contract on the exercise day or the expiration day, as the case may be.

Block Trades

Admitted to the Eurex Block Trade Service with a Minimum Block Trade Size of 1,000 contracts; the EnLight Minimum Block Trade Size is 1,000 contracts.

Market-Making Parameter

All quotation parameters at a glance

  • Quotation period
  • Maturity range
  • Spread class & Maximum Spread
  • Minimum Quote Size
Liquidity Provider schemes

Mistrade Parameter

This file provides an overview of mistrade ranges for Options and Futures including information on their behavior close to expiration and in stressed markets.
 

Mistrade Ranges

Crossing Parameters

(section 2.6 Eurex Trading Conditions)

(1) Orders and Quotes relating to the same Instrument or Combined Instrument may, in case they could immediately be executed against each other, neither be entered knowingly by an Exchange Trader or several Exchange Traders of an Admitted Company (a “Cross Trade”) nor pursuant to a prior understanding between Exchange Traders of two different admitted companies (a “Pre-Arranged Trade”), unless the conditions according to Paragraph 2 have been fulfilled. The same shall apply for the entry of Orders as part of a Quote.

(2) A Cross Trade or a Pre-Arranged Trade is admissible if a participant in a Cross Trade or a Pre-Arranged Trade Eurex Trading System, announces his intention to execute a corresponding number of Contracts as Cross Trades or Pre-Arranged Trades in the Order Book (“Trade Request”). The buying participant has to ensure that he himself or the selling participant enters the Trade Request. The Order or Quote giving rise to the Cross Trade or Pre-Arranged Trade must be entered one second at the earliest and 121 seconds at the latest after the entry of the Trade Request. Entering a Trade Request without entering the respective Order or Quote is not admissible.

(3) Paragraphs 1 and 2 shall not apply to Transactions consummated during the netting process in an auction (Number 1.4 Paragraphs 2 and Paragraph 3).

(4) The automated entry functionality for Cross Trades or Pre-Arranged Trades of the Eurex Trading System may be used for entering Cross Trades or Pre-Arranged Trades. In this case, announcement and entry of the corresponding Orders pursuant to Paragraph 2 will be automated. 

Trading Hours

Regular Trading Day
Pre-Trading Trading Post-Trading
Full Late1 Late2 Restricted
07:30 08:50 17:30 18:30 20:30
Last Trading Day
Pre-Trading Trading Post-Trading
Full Late1 Late2 Restricted
07:30 08:50 12:00 20:30

Trading Calendar

  • Jan 01
    Interest Rates | Equity | Equity Index | Dividends | FX | Volatility | ETF & ETC | Commodity | Cryptocurrency | Holiday

    Eurex is closed for trading and clearing (exercise, settlement and cash) in all derivatives

  • Jan 17
    Volatility | Last Trading Day

    Last trading day for VSTOXX® Derivatives

  • Jan 18
    Volatility | Last Trading Day

    Last trading day for EURO STOXX 50® Variance Futures

  • Jan 19
    Volatility | Final Settlement Day

    Final settlement day for EURO STOXX 50® Variance Futures (no trading)

  • Feb 14
    Volatility | Last Trading Day

    Last trading day for VSTOXX® Derivatives

  • Feb 15
    Volatility | Last Trading Day

    Last trading day for EURO STOXX 50® Variance Futures

  • Feb 16
    Volatility | Final Settlement Day

    Final settlement day for EURO STOXX 50® Variance Futures (no trading)

  • Mar 14
    Volatility | Last Trading Day

    Last trading day for EURO STOXX 50® Variance Futures

  • Mar 15
    Volatility | Final Settlement Day

    Final settlement day for EURO STOXX 50® Variance Futures (no trading)

  • Mar 20
    Volatility | Last Trading Day

    Last trading day for VSTOXX® Derivatives

  • Mar 29
    Interest Rates | Equity | Equity Index | Dividends | Cryptocurrency | Volatility | FX | ETF & ETC | Commodity | Holiday

    Eurex is closed for trading and clearing (exercise, settlement and cash) in all derivatives

  • Apr 01
    Interest Rates | Equity | Equity Index | Dividends | FX | Volatility | ETF & ETC | Commodity | Cryptocurrency | Holiday

    Eurex is closed for trading and clearing (exercise, settlement and cash) in all derivatives

  • Apr 17
    Volatility | Last Trading Day

    Last trading day for VSTOXX® Derivatives

  • Apr 18
    Volatility | Last Trading Day

    Last trading day for EURO STOXX 50® Variance Futures

  • Apr 19
    Volatility | Final Settlement Day

    Final settlement day for EURO STOXX 50® Variance Futures (no trading)

  • May 01
    Interest Rates | Equity | Equity Index | Dividends | FX | Volatility | ETF & ETC | Commodity | Cryptocurrency | Holiday

    Eurex is closed for trading and clearing (exercise, settlement and cash) in all derivatives

  • May 16
    Volatility | Last Trading Day

    Last trading day for EURO STOXX 50® Variance Futures

  • May 17
    Volatility | Final Settlement Day

    Final settlement day for EURO STOXX 50® Variance Futures (no trading)

  • May 22
    Volatility | Last Trading Day

    Last trading day for VSTOXX® Derivatives

  • Jun 19
    Volatility | Last Trading Day

    Last trading day for VSTOXX® Derivatives

  • Jun 20
    Volatility | Last Trading Day

    Last trading day for EURO STOXX 50® Variance Futures

  • Jun 21
    Volatility | Final Settlement Day

    Final settlement day for EURO STOXX 50® Variance Futures (no trading)

  • Jul 17
    Volatility | Last Trading Day

    Last trading day for VSTOXX® Derivatives

  • Jul 18
    Volatility | Last Trading Day

    Last trading day for EURO STOXX 50® Variance Futures

  • Jul 19
    Volatility | Final Settlement Day

    Final settlement day for EURO STOXX 50® Variance Futures (no trading)

  • Aug 15
    Volatility | Last Trading Day

    Last trading day for EURO STOXX 50® Variance Futures

  • Aug 16
    Volatility | Final Settlement Day

    Final settlement day for EURO STOXX 50® Variance Futures (no trading)

  • Aug 21
    Volatility | Last Trading Day

    Last trading day for VSTOXX® Derivatives

  • Sep 18
    Volatility | Last Trading Day

    Last trading day for VSTOXX® Derivatives

  • Sep 19
    Volatility | Last Trading Day

    Last trading day for EURO STOXX 50® Variance Futures

  • Sep 20
    Volatility | Final Settlement Day

    Final settlement day for EURO STOXX 50® Variance Futures (no trading)

  • Oct 16
    Volatility | Last Trading Day

    Last trading day for VSTOXX® Derivatives

  • Oct 17
    Volatility | Last Trading Day

    Last trading day for EURO STOXX 50® Variance Futures

  • Oct 18
    Volatility | Final Settlement Day

    Final settlement day for EURO STOXX 50® Variance Futures (no trading)

  • Nov 14
    Volatility | Last Trading Day

    Last trading day for EURO STOXX 50® Variance Futures

  • Nov 15
    Volatility | Final Settlement Day

    Final settlement day for EURO STOXX 50® Variance Futures (no trading)

  • Nov 20
    Volatility | Last Trading Day

    Last trading day for VSTOXX® Derivatives

  • Dec 18
    Volatility | Last Trading Day

    Last trading day for VSTOXX® Derivatives

  • Dec 19
    Volatility | Last Trading Day

    Last trading day for EURO STOXX 50® Variance Futures

  • Dec 20
    Volatility | Final Settlement Day

    Final settlement day for EURO STOXX 50® Variance Futures (no trading)

  • Dec 24
    Interest Rates | Equity | Equity Index | Dividends | Volatility | ETF & ETC | Cryptocurrency | Commodity | FX | Holiday

    Eurex is closed for trading in all derivatives

  • Dec 25
    Interest Rates | Equity | Equity Index | Dividends | FX | Volatility | ETF & ETC | Commodity | Cryptocurrency | Holiday

    Eurex is closed for trading and clearing (exercise, settlement and cash) in all derivatives

  • Dec 26
    Interest Rates | Equity | Equity Index | Dividends | FX | Volatility | ETF & ETC | Commodity | Cryptocurrency | Holiday

    Eurex is closed for trading and clearing (exercise, settlement and cash) in all derivatives

  • Dec 31
    Interest Rates | Equity | Equity Index | Dividends | Volatility | ETF & ETC | Cryptocurrency | Commodity | FX | Holiday

    Eurex is closed for trading in all derivatives

Transaction Fees

Fee Type Fee
Exchange transactions: Standard fees (A-, M- and P-accounts) EUR 0.30 per contract
TES transactions / Eurex EnLight: Standard fees (A-, M- and P-accounts) EUR 0.30 per contract
Position Closing Adjustments (A-, M- and P-accounts) EUR 0.60 per contract
Exercise of options (A-, M- and P-accounts) EUR 0.10 per contract
Assignment of options (A-, M- and P-accounts) EUR 0.10 per contract
Position transfer with cash transfer EUR 7.50 per transaction

Market Status

XEUR

The market status window is an indication regarding the current technical availability of the trading system. It indicates whether news board messages regarding current technical issues of the trading system have been published or will be published shortly.

Please find further information about incident handling in the Emergency Playbook published on the Eurex webpage under Support --> Emergencies and safeguards. Detailed information about incident communication, market re-opening procedures and best practices for order and trade reconciliation can be found in the chapters 4.2, 4.3 and 4.5, respectively. Concrete information for the respective incident will be published during the incident via newsboard message. 

We strongly recommend not to take any decisions based on the indications in the market status window but to always check the production news board for comprehensive information on an incident.

An instant update of the Market Status requires an enabled up-to date Java™ version within the browser.