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Equity Index Dividend Futures: Introduction of MSCI Index Dividend Futures

Release date: 20 Sep 2019 | Eurex Exchange

091/2019 Equity Index Dividend Futures: Introduction of MSCI Index Dividend Futures

Eurex Circular 091/19 CORRECTION: Equity Index Dividend Futures: Introduction of MSCI Index Dividend Futures

Dear Trading Participants,

In the original Eurex Circular 091/19, the underlying Bloomberg tickers in the table in attachment 1, section 3.: Details about the new products, were incorrect. Furthermore, the Bloomberg tickers for Eurex Futures were missing. The other content remains unchanged. Please find here the correct Eurex Circular 091/19 with the updated attachment 1. 

We apologize for any inconvenience caused.

Best regards,

Eurex Deutschland

1.    Introduction

The Management Board of Eurex Deutschland took the following decisions with effect from 14 October 2019:

Introduction of MSCI Emerging Markets, MSCI EAFE and MSCI World Index Dividend Futures

This circular contains all information on the introduction of the new products and the updated sections of the relevant Rules and Regulations of Eurex Deutschland.

Production start: 14 October 2019

Simulation start: 1 October 2019

2.    Action required

There is no action required for participation.

3.    Details about the new products

For the product overview, please refer to the table in attachment 1. 

4.    Contract specifications 

For the contract specifications, please refer to the table in attachment 1.

For the detailed contract specifications, please refer to attachment 2. 

The full version of the updated Contract Specifications for Futures Contracts and Options Contracts at Eurex Deutschland will be published on the Eurex website www.eurexchange.com as of start of trading under:

5.    Trading hours (all times are CET)

For the trading hours, please refer to the table in attachment 1.

6.   Product group

The product group of the new products is as described in the table in attachment 1. 

7.    Excessive System Usage Fee and Order to Trade Ratio

The Excessive System Usage Fee and the Order to Trade Ratio are determined in line with the existing Equity Index Dividend Futures (FINX). For detailed information, please refer to the Eurex website under the following links:  

8.    Mistrade parameters

Mistrade ranges for the new index dividend futures will be available for download on the Eurex website as of start of trading under the following link: 

Products > Dividend derivatives > Equity Index Dividend Derivatives > Product name > Parameters > Mistrade Ranges

9.  Data vendor codes

As of start of trading, vendor codes for the new products will be published on the Eurex website under the link:

10.  Further information

In the following, please find information on the new products on the MSCI indexes, which is likewise contained in Eurex Clearing circular 089/19.

10.1   Admission to the Eurex T7 Entry Services (TES)

The new Index Dividend Futures will be admitted to the Eurex T7 Entry Services (TES). 

You can find the minimum block trade sizes on product level in the attached Contract Specifications.

An overview of the Eurex T7 Entry Services available for the products as well as detailed information on single product basis with regard to availability, possibility of utilisation and minimum entry size for the various Eurex T7 Entry Services is available on the Eurex website under the link:

10.2     Transaction fees

As of start of trading of the new products, the fee rebates named in the table in attachment 1 for trading, clearing and settlement will apply.

For further details, please refer to the current Price List of Eurex Clearing AG on the Eurex website under the following link: 

10.3    Risk parameters

As of start of trading, risk parameters of the new products will be published on the Eurex website under the link: 

and on the Eurex Clearing website www.eurexclearing.com under the link:

There, you will also find an up-to-date list with details for all Prisma-eligible Eurex products.
 

Attachments: 

  1. Tables for the details about the new products
  2. Updated sections of the Contract Specifications for Futures Contracts and Options Contracts at Eurex Deutschland
Recipients:All Trading Participants of Eurex Deutschland and Vendors
Target groups:Front Office/Trading, Middle + Backoffice, IT/System Administration, Auditing/Security Coordination
Contact:eurextrading@eurexchange.com
Web:www.eurexchange.com
Authorized by:Michael Peters
 

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