Eurex Pricing Measures

Transcription

1 Eurex Circular 32/19 Eurex Pricing Measures Summary Eurex Exchange hereby announces two fee changes and provides further information on these changes as well as the corresponding amendments to the Price List of Eurex Clearing AG (Price List) with respect to the following topics: 1. Recalibration of volume rebate thresholds in Equity Index Futures and Interest Rate Futures 2. Fee changes in Single Stock Futures a) Adjustment of thresholds for reduced fee b) Introduction of an extra fee for non-disclosed trades These changes will come into effect on 1 April 219 except for the introduction of non-disclosed fee in Single Stock Futures, which will come into effect on 1 January 22. Action required High priority Date: 14 March 219 Recipients: All Trading Participants of Eurex Deutschland and Vendors Authorized by: Michael Peters Target group: All departments Related Eurex Clearing circulars: 27/19 Attachments: Updated sections of the Price List of Eurex Clearing AG (as of 1 April 219) Draft of Price List (as of 1 January 22) Contact: Eurex Pricing, eurex.pricing@eurexchange.com Eurex Deutschland Börsenplatz Frankfurt/Main Mailing address: 6485 Frankfurt/Main Germany T F eurexchange.com Internet: Thomas Book, Erik Tim Müller, Michael Peters, Randolf Roth ARBN:

2 Eurex Pricing Measures 1. Recalibration of volume rebate thresholds in Equity Index and Interest Rate Futures The volume rebate thresholds in Equity Index and Interest Rate Futures have been reviewed and the following changes will apply as of 1 April 219: 2. Fee changes in Single Stock Futures a) Adjustment of thresholds for reduced fee The following thresholds for the reduced fee will apply on P- & M-accounts as of 1 April 219: b) Introduction of an extra fee for non-disclosed trades Non-disclosure is an optional feature in Single Stock Futures for trades above a certain threshold. When reaching or exceeding this certain threshold, bilateral Block Trades can, electively, not be disclosed intraday by Eurex Exchange s T7. As of 1 January 22, the following fee for elective non-disclosed Block Trades will be charged: As of the effective date, the full version of the amended Price List will be available for download on the Eurex Clearing website under the following link: Resources > Rules and Regulations > Price list Eurex Circular XXX/19 Page 1 of 2

3 The amendments to the Price List of Eurex Clearing AG published by this circular are deemed accepted by each affected contractual party of Eurex Clearing AG, unless the respective contractual party objects by written notice to Eurex Clearing AG within the first ten (1) Business Days after publication. Any ordinary right of Eurex Clearing AG to terminate the respective contract (including a Clearing Agreement, if applicable) shall remain unaffected. If you have any questions or require further information, please contact Eurex Pricing under the eurex.pricing@eurexchange.com. 14 March 219 Eurex Circular XXX/19 Page 2 of 2

4 Price List of Eurex Clearing AG As of Page 1 *************************************************************************** AMENDMENTS ARE MARKED AS FOLLOWS: INSERTIONS ARE UNDERLINED DELETIONS ARE CROSSED OUT ***************************************************************************** 3. Transaction Fees for Derivatives Transactions (Order Book Transactions and Off-Book Transactions on the Eurex Exchange) 3.1 Matching / Registration of Derivatives Transactions (6) With regard to transactions in Eurex Market-on-Close Futures (Eurex MOC) on Index Futures and in deviation to Paragraph (1), not only will a transaction fee be charged for any transaction in Eurex MOC on Index Futures but also an additional fee relating to the booking of the Index Future underlying such transaction. [ ] Product / Product Group Equity Derivatives Currency Accounts Standard volume Equity Futures with Group ID assigned in Annex A of the Eurex Specifications AT1, BE1, BE2, DE1, DE2, ES1, ES2, FI1, FI2, FR1, FR2, IE1, IE2, IT1, IT2, NL1, NL2, NO1, PL1, PT1, SE1 EUR Off-book Reduced volume > Threshold (number of contracts) A.1. 3, P.1. M.1. A.15. 3, P.15. M.15. USD A.15. 3,

5 Price List of Eurex Clearing AG As of Page 2 Product / Product Group Currency Accounts Standard volume Reduced volume > Threshold (number of contracts) P.15. BR1, CA1, CA2, RU1, US1, US2 Off-book M.15. A.23. 3, P.23. M.23. A.15. 3, P.15. CH1 CHF M.15. A.23. 3, Off-book P.23. M.23. A.8. 3, P.8. M.8. GB1 GBP A.12. 3, P.12. Off-book M.12. Equity Options/LEPOs with Group ID assigned in Annex B of the Eurex Specifications 3.2 Rebates

6 Price List of Eurex Clearing AG As of Page Volume Rebates Volume Rebates in Futures (3) The thresholds and rebate levels per product group as applied in Number Paragraph (8) are listed in the following tables: a. Equity Index Futures Tier 1 Tier 2 Tier 3 Tier 4 Threshold 3, 6, 1,,8, 1,4,1,1, 1 1% 15% 2% 25% 2 15% 2% 25% 3% 3 2% 25% 3% 35% b. Interest Rate Futures Tier 1 Tier 2 Tier 3 Tier 4 Threshold 3, 6, 1,,8, 1,4,1,1, 1 1% 15% 2% 25% 2 15% 2% 25% 3% 3 2% 25% 3% 35% 3.4 Cash Settlement (1) The following fees are charged for cash settlement of the products listed below: Product / Product Group Maximum Fee for s on the same underlying of each A-, P- and M-Account Equity Futures with in Group ID assigned in Annex A of the Eurex Specifications AT1, BE1, BE2, DE1, DE2, ES1, ES2, FI1, FI2, FR1, FR2, EUR 45. EUR.1 IE1, IE2, IT1, IT2, NL1, NL2, 3. NO1, PL1, PT1, SE1 BR1, CA1, CA2, RU1, US1, USD 69. USD.15 US2 46. CHF CH1 CHF

7 Price List of Eurex Clearing AG As of Page 4 Product / Product Group GB1 GBP.8 Maximum Fee for s on the same underlying of each A-, P- and M-Account GBP ***************

8 Price List of Eurex Clearing AG As of Page 1 *************************************************************************** AMENDMENTS ARE MARKED AS FOLLOWS: INSERTIONS ARE UNDERLINED DELETIONS ARE CROSSED OUT **************************************************************************** 3. Transaction Fees for Derivatives Transactions (Order Book Transactions and Off-Book Transactions on the Eurex Exchange) 3.1 Matching / Registration of Derivatives Transactions (6) With regard to transactions in Eurex Market-on-Close Futures (Eurex MOC) on Index Futures and in deviation to Paragraph (1), not only will a transaction fee be charged for any transaction in Eurex MOC on Index Futures but also an additional fee relating to the booking of the Index Future underlying such transaction. [ ] Product / Product Group Equity Derivatives Currency Accounts Standard volume Equity Futures with Group ID assigned in Annex A of the Eurex Specifications AT1, BE1, BE2, DE1, DE2, ES1, ES2, FI1, FI2, FR1, FR2, IE1, IE2, IT1, IT2, NL1, NL2, NO1, PL1, PT1, SE1 EUR Off-bookTES Reduced volume > Threshold (number of contracts) A.1. 3, P.1. 3, M.1. 3, A.15. 3, P.15. 3, M.15. 3, AT1, BE1, BE2, DE1, DE2, ES1, ES2, FI1, FI2, FR1, FR2, IE1, IE2, IT1, IT2, NL1, NL2, EUR TES bilateral A.2. 3, P.2. 3,

9 Price List of Eurex Clearing AG As of Page 2 Product / Product Group Currency Accounts Standard volume Reduced volume > Threshold (number of contracts) NO1, PL1, PT1, SE1 (non-disclosed within the meaning of Eurex Specifications) M.2. 3, A.15. 3, P.15. 3, BR1, CA1, CA2, RU1, US1, US2 USD Off-bookTES M.15. 3, A.23. 3, P.23. 3, M.23. 3, BR1, CA1, CA2, RU1, US1, US2 (non-disclosed within the meaning of Eurex Specifications) USD TES bilateral A.28. 3, P.28. 3, M.28. 3, CH1 CH1 (non-disclosed within the meaning of Eurex Specifications) GB1 GB1 (non-disclosed within the meaning of Eurex Specifications) CHF CHF GBP GBP Off-bookTES TES bilateral Off-bookTES TES bilateral A.15. 3, P.15. 3, M.15. 3, A.23. 3, P.23. 3, M.23. 3, A.28. 3, P.28. 3, M.28. 3, A.8. 3, P.8. 3, M.8. 3, A.12. 3, P.12. 3, M.12. 3, A.17. 3, P.17. 3, M.17. 3, Equity Options/LEPOs with Group ID assigned in Annex B of the Eurex Specifications ********************