www.eurexchange.com
Products2017
Equity Derivatives07 Single Stock Futures12 Equity Options19 Low Exercise Price Options21 Weekly Options
Equity Index Derivatives24 Equity Index Futures46 Equity Index Options62 Weekly Options65 Eurex/KRX-Link70 Eurex/TAIFEX-Link
FX Derivatives76 FX Futures80 FX Options
Dividend Derivatives85 Single Stock Dividend Futures88 Equity Index Dividend Futures92 EURO STOXX 50® Index Dividend Options
Volatility Derivatives 96 Volatility Futures99 Volatility Options102 Variance Futures
Exchange Traded Products Derivatives106 ETF Futures109 ETF Options115 ETC Futures118 ETC Options121 Xetra-Gold® Futures 123 Xetra-Gold® Options
Content Equity
Derivatives
Equity Index
Derivatives
FX Derivatives
Dividend
Derivatives
Volatility
Derivatives
Exchange
Traded Products
Derivatives
Com
modity
Derivatives
Property
Derivatives
Interest Rate
Derivatives
Eurex Bonds/
Eurex Repo
210 Exchange for Swaps (Equity Index Futures) EFS Trades
213 Exchange for Swaps (Interest Rate Derivatives) EFS Trades
214 Vola Trades219 Multilateral Trade Registration (MTR)221 Trade Entry Service via E-Mail
Complex Orders222 Strategy Types
230 Trading in the U.S.234 Further Information
Commodity Derivatives Bloomberg 127 Bloomberg Commodity IndexSM Futures131 Bloomberg Commodity IndexSM Options
Property Derivatives136 Property Futures
Interest Rate Derivatives Fixed Income Derivatives140 Fixed Income Futures146 Options on Fixed Income Futures151 Futures on Interest Rate Swaps154 LDX IRS Constant Maturity Futures
Money Market Derivatives157 Money Market Futures166 Options on Money Market Futures
Eurex Bonds175 Eurex Bonds
Eurex Repo180 Eurex Repo Repo Market185 Eurex Repo GC Pooling® Market 188 SecLend Market
Appendix Eurex Trade Entry Services191 Block Trades198 Flexible Contracts200 Exchange for Physicals (Interest Rate Derivatives) EFP Trades
202 Exchange for Physicals (Equity Index Futures) EFPI Trades
205 Exchange for Physicals (FX-Futures)207 Exchange for Physicals (Volatility Index Futures)208 Trade at Index Close
Equity
Derivatives
Equity Index
Derivatives
FX Derivatives
Dividend
Derivatives
Volatility
Derivatives
Exchange
Traded Products
Derivatives
Com
modity
Derivatives
Property
Derivatives
Interest Rate
Derivatives
Eurex Bonds/
Eurex Repo
7
Contract standardsA broad range of shares of the 19 STOXX® Europe600 Supersectors as well as selected Brazilian,Canadian, Polish, Russian and U.S. shares.
Information about currently available Single StockFutures can be found on www.eurexchange.com >Products.
STOXX® Europe 600 supersectors
Automobiles & Parts
Banks
Basic Resources
Chemicals
Construction & Materials
Financial Services
Food & Beverage
Health Care
Industrial Goods & Services
Insurance
Media
Oil & Gas
Personal & Household Goods
Real Estate
Retail
Technology
Telecommunications
Travel & Leisure
Utilities
Sector code
SXAP
SX7P
SXPP
SX4P
SXOP
SXFP
SX3P
SXDP
SXNP
SXIP
SXMP
SXEP
SXQP
SX86P
SXRP
SX8P
SXKP
SXTP
SX6P
Single Stock FuturesEquity Derivatives Equity
Derivatives
9 8
Contract sizes1, 10, 100 or 1,000 shares.
Due to corporate actions the contract size for SingleStock Futures can differ from the standard contractsize. Current contract sizes can be found onwww.eurexchange.com > Products > EquityDerivatives > Single Stock Futures.
SettlementCash settlement, payable on the first exchange dayfollowing the last trading day.
Selected Spanish Single Stock Futures are alsoavailable with physical delivery: 100 shares of the underlying two exchange days following the last trading day.
Minimum price changeEUR 0.0001, CHF 0.0001, CHF 0.001, USD 0.0001, GBp 0.0001.
Contract monthsUp to 36 months: The 13 nearest successive calen - dar months as well as the two following annualmonths of the December cycle thereafter.
Last trading day and final settlement dayLast trading day is the final settlement day. Finalsettlement day is the third Friday, for Italian SingleStock Futures the day before the third Friday ofeach maturity month, if this is an exchange day;otherwise the exchange day immediately precedingthat day. Close of trading in the maturing SingleStock Futures on the last trading day is at 17:45 CET.
For Russian Single Stock Futures trading ceases inthe maturing futures contract on the last tradingday at 16:40 CET.
For Brazilian, Canadian and U.S. Single StockFutures trading ceases in the maturing futurescontract on the last trading day at 15:30 CET(for March contracts already at 14:30 CET).
Daily settlement priceThe daily settlement price is established by Eurex.The daily settlement prices for Single Stock Futuresare derived from the closing price of the under -lying determined during the closing auction of the corresponding domestic cash market plus the respective cost of carry.
For Brazilian, Canadian and U.S. Single StockFutures the daily settlement price is derived from the volume-weighted average of the lastthree prices of the underlying before 17:45 CET (reference point) in the appropriate contract plusthe respective cost of carry.
Further details are available in the clearing con-di tions on www.eurexchange.com > Resources >Rules & Regulations.
Final settlement priceThe final settlement price is established by Eurexbased on the closing price determined within the electronic trading system of the domestic cashmarket for the respective underlying on the lasttrading day.
The final settlement price for Brazilian, Canadianand U.S. Single Stock Futures with the productgroup code US01 is based on the opening price of
Equity
Derivatives
11
the floor trading of NYSE Euronext New York, for U.S. Single Stock Futures with the productgroup code US02 on the opening auction pricedetermined within the electronic trading system of NASDAQ on the last trading day respectively.
Trading hours and product currency
The opening time of 09:00 CET is considered a refer ence point. Eurex opens its Single StockFutures staggered on a country-by-countryapproach between 08:50 and 09:00 CET.
For details, please visit the trading calendar on the Eurex website www.eurexchange.com >Trading > Trading Calendar.
Eurex Trade Entry ServicesThe following Eurex Trade Entry Services are available for Single Stock Futures:
• Block Trades - supported by Bulk Load Panel - Non-Disclosure facility implemented• Flexible Futures• Trade Entry Service via e-mail (Russian Single Stock Futures)
10
Contract
Standard
British Single Stock Futures
Russian Single StockFutures
Swiss Single Stock Futures
Brazilian, Canadian andU.S. Single Stock Futures
Trading hours
09:00–17:45 CET
09:00–17:45 CET
09:00–17:45 CET
09:00–17:45 CET
09:00–22:00 CET
Productcurrency
EUR
GBP
USD
CHF
USD
Further information about Eurex Trade Entry Services is available in the appendix section or onwww.eurexchange.com > Products > Eurex TradeEntry Services.
Service hours
Contract
Austrian, Belgian, Swiss, Irish, Norwegian, Portuguese and Swedish Single Stock Futures
German, Spanish, Finnish, French, Italianand Dutch Single Stock Futures
British, Polish and Russian Single StockFutures
Brazilian, Canadian and U.S. Single StockFutures
Time
08:58–19:33 CET
09:00–19:35 CET
09:01–19:36 CET
09:01–22:30 CET
Equity
Derivatives
13 12
Contract standardsA broad range of shares of the 19 STOXX® Europe600 Supersectors as well as selected Russian shares.
Information about currently available equityoptions can be found on www.eurexchange.com >Products.
Contract sizes1, 10, 100, 500, 1,000 or 2,500 shares.
SettlementPhysical delivery of 1, 10, 50, 100, 500, 1,000 or2,500 shares of the underlying two exchange daysafter exercise.
Minimum price changeEUR 0.0005, EUR 0.001, EUR 0.01, CHF 0.01,GBp 0.25, GBp 0.50 or USD 0.01.
Contract monthsUp to 12 months: The three nearest successivecalendar months and the three following quarterlymonths of the March, June, September andDecember cycle thereafter.
Up to 24 months: The three nearest successivecalendar months, the three following quarterlymonths of the March, June, September andDecember cycle thereafter, and the two followingsemi-annual months of the June and Decembercycle thereafter.
Up to 60 months: The three nearest successivecalendar months, the three (for Spanish equityoptions nine) following quarterly months of theMarch, June, September and December cycle thereafter, and the four (for Spanish equity optionsthe nearest) following semi-annual months of the June and December cycle thereafter, and thetwo following annual months of the Decembercycle thereafter.
Equity Options
STOXX® Europe 600 supersectors
Automobiles & Parts
Banks
Basic Resources
Chemicals
Construction & Materials
Financial Services
Food & Beverage
Health Care
Industrial Goods & Services
Insurance
Media
Oil & Gas
Personal & Household Goods
Real Estate
Retail
Technology
Telecommunications
Travel & Leisure
Utilities
Sector code
SXAP
SX7P
SXPP
SX4P
SXOP
SXFP
SX3P
SXDP
SXNP
SXIP
SXMP
SXEP
SXQP
SX86P
SXRP
SX8P
SXKP
SXTP
SX6P
Equity
Derivatives
15 14
Last trading dayLast trading day is the third Friday, for Italianequity options the day before the third Friday, of each expiration month, if this is an exchangeday; otherwise, the exchange day immediatelypreceding that day.
Daily settlement priceThe daily settlement price is established by Eurex.The daily settlement prices for equity options aredetermined through the binomial model accordingto Cox/Ross/Rubinstein. If necessary, dividendexpectations, current interest rates or other pay -ments are taken into consideration.
Further details are available in the clearing con-di tions on www.eurexchange.com > Resources >Rules & Regulations.
ExerciseEquity options can be exercised either American-or European-style:
Standard – American-style:Equity options can be exercised until the end ofthe Post-Trading Full Period (20:00 CET) on anyexchange day during the lifetime of the option.
Exceptions – European-style:Equity options with group ID DE14, CH14, FI14,FR14 and NL14 can only be exercised on the lasttrading day until the end of the Post-TradingFull-Period (20:00 CET).
Russian equity options can only be exercised on the last trading day until the end of the Post-Trading Full-Period (17:40 CET).
Exercise prices (standard)
The exercise prices of British, Spanish, Dutch,Belgian, French and Irish equity options are different from the standard exercise prices; the complete exercise prices are available in the contract specifications on www.eurexchange.com > Resources > Rules &Regulations.
Number of exercise pricesUpon the admission of the options, at least sevenexercise prices shall be made available for eachdue date with a term of up to 24 months for eachcall and put, such that three exercise prices are in-the-money, one is at-the-money and three areout-of-the-money.
Exercise prices inEUR, CHF or USD
Up to 2
2 – 4
4 – 8
8 – 20
20 – 52
52 – 100
100 – 200
200 – 400
> 400
Exercise price intervals in EUR, CHF or USD for expiration monthswith a remaining lifetime of
< 3 months
0.05
0.10
0.20
0.50
1.00
2.00
5.00
10.00
20.00
4–12months
0.10
0.20
0.40
1.00
2.00
4.00
10.00
20.00
40.00
> 12months
0.20
0.40
0.80
2.00
4.00
8.00
20.00
40.00
80.00
Equity
Derivatives
17 16
Upon the admission of the options, at least fiveexercise prices shall be made available for eachdue date with a term of more than 24 months foreach call and put, such that two exercise pricesare in-the-money, one is at-the-money and twoare out-of-the-money.
Upon the admission of Dutch, Belgian and Frenchoptions, at least nine exercise prices shall be madeavailable for each due date with a term of up to12 months for each call and put, such that fourexercise prices are in-the-money, one is at-the-money and four are out-of-the-money.
Upon the admission of Dutch, Belgian and Frenchoptions, at least seven exercise prices shall be madeavailable for each due date with a term of morethan 12 months for each call and put, such thatthree exercise prices are in-the-money, one is at-the-money and three are out-of-the-money.
Option premiumThe premium is payable in full in the currency of the respective contract on the exchange dayfollowing the day of the trade.
Trading hours and product currency
The standard opening time of 09:00 CET is con -sidered a reference point. Eurex opens its equityoptions staggered on a country-by-country ap proach between 08:50 and 09:05 CET.
The standard closing time of 17:30 CET is con -sidered a reference point. Eurex closes its equityoptions staggered on a country-by-country ap-proach between 17:30 and 17:36 CET.
For details, please visit the trading calendar on the Eurex website www.eurexchange.com >Trading > Trading Calendar.
Eurex Trade Entry ServicesThe following Eurex Trade Entry Services areavailable for equity options:
• Multilateral Trade Registration• Block Trades (including vola strategy trades with cash equity leg) - Non-Disclosure facility implemented• Flexible Options (not for European-style equity options)• Trade Entry Service via e-mail (only for Russian equity options)
Contract
Standard
British equity options
Russian equity options
Swiss equity options
Trading hours
09:00–17:30 CET
09:00–17:30 CET
09:05–16:30 CET
09:00–17:20 CET
Productcurrency
EUR
GBP
USD
CHF
Equity
Derivatives
19 18
Further information about Eurex Trade Entry Services is available in the appendix section or onwww.eurexchange.com > Products > Eurex TradeEntry Services.
Service hours
This section only lists the differences with respectto the regular contract specifications for equityoptions, whereas for every equity option a LowExercise Price Option (LEPO) is available.
Contract monthsUp to 6 months: The nearest calendar month andthe two following quarterly months of the March,June, September and December cycle thereafter.
Exercise pricesExercise price of a LEPO is the smallest exerciseprice of an option available in the Eurex® system.
For example, for securities with exercise prices withtwo decimal places, LEPOs with an exercise priceof EUR 0.01, CHF 0.01, GBp 0.01 or USD 0.01,respectively, will be set up. Options with an exer-cise price with one decimal place have an exerciseprice of EUR 0.1, CHF 0.1, GBp 0.1 or USD 0.1respectively.
Eurex Trade Entry ServicesThe following Eurex Trade Entry Services are available for Low Exercise Price Options:
• Multilateral Trade Registration• Block Trades• Flexible Options• Trade Entry Service via e-mail (Russian LEPOs)
Contract
Standard
Austrian equity options
British and Irish equity options
Russian equity options
Time
09:00–19:00 CET
09:15–19:00 CET
09:00–18:30 CET
09:15–19:00 CET16:30–17:00 CET on the last trading day
Low Exercise Price Options(LEPOs)
Equity
Derivatives
20
Further information about Eurex Trade Entry Services is available in the appendix section or onwww.eurexchange.com > Products > Eurex TradeEntry Services.
21
This section only lists the differences with respectto the regular contract specifications for equityoptions. Eurex offers Weekly Options on all EUROSTOXX 50® Index components as well as on the shares of selected Swiss underlying instruments.
Information about all available Weekly Optionscan be found on www.eurexchange.com >Products.
Contract months1st, 2nd und 4th Friday Weekly Options:Onemonth for all contracts expiring on the 1st, 2ndand 4th Friday of a calendar month. At the startof trading on each Friday, the Weekly Options for the same week of the following month will be listed.
5th Friday Weekly Options:More than onemonth for contracts expiring on the 5th Friday ofa calendar month. For months without a 5thFriday, the option expiration will fall on the next5th Friday.
Contract size100 shares
Minimum price changeEUR 0.01
Weekly Options Equity
Derivatives
Equity IndexDerivatives
22
Eurex Trade Entry ServicesThe following Eurex Trade Entry Services are available for Weekly Options:
• Multilateral Trade Registration• Block Trades (including vola strategy trades with cash equity leg)
Further information about Eurex Trade Entry Services is available in the appendix section or onwww.eurexchange.com > Products > Eurex TradeEntry Services.
25 24
Underlyings
Equity IndexFutures
Futures on
EURO STOXX 50® Index
EURO STOXX 50® ex Financials Index
EURO STOXX 50® Quanto Index
EURO STOXX 50® Total Return Index
EURO STOXX® Select Dividend 30 Index
EURO STOXX® Index
EURO STOXX® Large Index
EURO STOXX® Mid Index
EURO STOXX® Small Index
STOXX® Europe 50 Index
STOXX® Global Select Dividend 100 Index
STOXX® Europe 600 Index
STOXX® Europe Large 200 Index
STOXX® Europe Mid 200 Index
STOXX® Europe Small 200 Index
DAX®, the blue chip index of Deutsche Börse AG
DivDAX®, the dividend index of Deutsche Börse AG
MDAX®, the mid cap index of Deutsche Börse AG
TecDAX®, the technology index of Deutsche Börse AG
SMI®, the blue chip index of SIX Swiss Exchange
SMI® Mid, the mid cap index of SIX Swiss Exchange
SLI Swiss Leader Index®, the blue chip index with capped weightings of SIX Swiss Exchange
OMXH25, the Finnish equity index
ProductID
FESX
FEXF
FESQ
TESX
FEDV
FXXE
FLCE
FMCE
FSCE
FSTX
FGDV
FXXP
FLCP
FMCP
FSCP
FDAX®/FDXM
FDIV
F2MX
FTDX
FSMI
FSMM
FSLI
FFOX
Equity Index
Derivatives
Futures on
ATX®, the Austrian blue chip index of Vienna StockExchange
ATX® five, consisting of the five shares with the highest weighting in the ATX®
CECE® EUR Index, the composite Eastern Europeanindex of Vienna Stock Exchange comprising the stocksincluded in the Hungarian Traded Index (HTX), CzechTraded Index (CTX) and Polish Traded Index (PTX)
RDX® EUR/USD Index, the Russian blue chip index of Wiener Börse AG
SENSEX, the Indian blue chip index of Bombay Stock Exchange (BSE)
TA-25, the Israeli blue chip index of the Tel Aviv StockExchange (TASE)
ProductID
FATX
FATF
FCEE
FRDE/FRDX
FSEN
FT25
MSCI Indexes
Futures on
MSCI Europe Index (EUR)
MSCI Europe Index (USD)
MSCI Europe GTR-Index (EUR)
MSCI Europe GTR-Index (USD)
MSCI Europe Price Index
MSCI Europe ex Switzerland Index
MSCI Europe Growth Index
MSCI Europe Value Index
MSCI EMU Index
MSCI EMU GTR-Index
MSCI World Index (USD)
MSCI World Index (EUR)
MSCI World GTR-Index (USD)
MSCI World GTR-Index (EUR)
MSCI World Price Index
MSCI World Midcap Index
MSCI Kokusai Index
MSCI Kokusai GTR-Index
ProductID
FMEU
FMED
FMGE
FMGU
FMEP
FMXS
FMEG
FMEV
FMMU
FMGM
FMWO
FMWN
FMWG
FMWE
FMWP
FMWM
FMKN
FMKG
27 26Equity Index
Derivatives
MSCI Indexes
Futures on
MSCI AC Asia Pacific
MSCI AC Asia Pacific ex Japan Index
MSCI North America Index
MSCI North America GTR-Index
MSCI Pacific Index
MSCI Pacific GTR-Index
MSCI Pacific ex Japan Index
MSCI Frontier Markets Index
MSCI Emerging Markets Index (USD)
MSCI Emerging Markets Index ( EUR)
MSCI Emerging Markets Price Index
MSCI Emerging Markets Asia Index
MSCI Emerging Markets EMEA Index
MSCI Emerging Markets Latin America Index
MSCI ACWI Index (USD)
MSCI ACWI Index (EUR)
MSCI ACWI ex USA Index
MSCI Australia Index
MSCI Canada Index
MSCI Canada GTR-Index
MSCI Chile Index
MSCI China Free Index
MSCI Colombia Index
MSCI Czech Republic Index
MSCI Egypt Index
MSCI France Index
MSCI France GTR-Index
MSCI Hungary Index
MSCI Hong Kong Index
MSCI India Index
MSCI Indonesia Index
ProductID
FMAP
FMAS
FMNA
FMGA
FMPA
FMPG
FMPX
FMFM
FMEM
FMEN
FMEF
FMEA
FMEE
FMEL
FMAC
FMAE
FMXU
FMAU
FMCA
FMGC
FMCL
FMCN
FMCO
FMCZ
FMEY
FMFR
FMGF
FMHU
FMHK
FMIN
FMID
MSCI Indexes
Futures on
MSCI Japan Index
MSCI Japan GTR-Index
MSCI Malaysia Index
MSCI Mexico Index
MSCI Morocco Index
MSCI New Zealand Index
MSCI Peru Index
MSCI Philippines Index
MSCI Poland Index
MSCI Qatar Index
MSCI Russia Index
MSCI Russia Price Index
MSCI South Africa Index
MSCI Thailand Index
MSCI UAE Index
MSCI UK Index (GBP)
MSCI UK Index (USD)
MSCI USA Index
MSCI USA GTR-Index
MSCI USA Equal Weighted Index
MSCI USA Momentum Index
MSCI USA Quality Index
MSCI USA Value Weighted Index
ProductID
FMJP
FMJG
FMMY
FMMX
FMMA
FMNZ
FMPE
FMPH
FMPL
FMQA
FMRS
FMRU
FMZA
FMTH
FMUA
FMUK
FMDK
FMUS
FMGS
FMUE
FMUM
FMUQ
FMUV
29 28
EURO STOXX® sector index products
Futures on
Automobiles & Parts
Banks
Basic Resources
Chemicals
Construction & Materials
Financial Services
Food & Beverage
Health Care
Industrial Goods & Services
Insurance
Media
Oil & Gas
Personal & Household Goods
Real Estate
Retail
Technology
Telecommunications
Travel & Leisure
Utilities
Product ID
FESA
FESB
FESS
FESC
FESN
FESF
FESO
FESH
FESG
FESI
FESM
FESE
FESZ
FESL
FESR
FESY
FEST
FESV
FESU
Sector code
SXAE
SX7E
SXPE
SX4E
SXOE
SXFE
SX3E
SXDE
SXNE
SXIE
SXME
SXEE
SXQE
SX86E
SXRE
SX8E
SXKE
SXTE
SX6E
STOXX® Europe 600 sector index products
Futures on
Automobiles & Parts
Banks
Basic Resources
Chemicals
Construction & Materials
Financial Services
Food & Beverage
Health Care
Industrial Goods & Services
Insurance
Product ID
FSTA
FSTB
FSTS
FSTC
FSTN
FSTF
FSTO
FSTH
FSTG
FSTI
Sector code
SXAP
SX7P
SXPP
SX4P
SXOP
SXFP
SX3P
SXDP
SXNP
SXIP
STOXX® Europe 600 sector index products
Futures on
Media
Oil & Gas
Personal & Household Goods
Real Estate
Retail
Technology
Telecommunications
Travel & Leisure
Utilities
Product ID
FSTM
FSTE
FSTZ
FSTL
FSTR
FSTY
FSTT
FSTV
FSTU
Sector code
SXMP
SXEP
SXQP
SX86P
SXRP
SX8P
SXKP
SXTP
SX6P
Settlement Cash settlement, payable on the first exchangeday following the final settlement day.
Contract values, price quotation and minimum price change
Contract
EURO STOXX 50®
Index Futures
EURO STOXX 50®
ex Financials Index Futures
EURO STOXX 50® QuantoIndex Futures
EURO STOXX® SelectDividend 30 Index Futures
EURO STOXX®
Index Futures
EURO STOXX® Large Index Futures
EURO STOXX®Mid Index Futures
EURO STOXX® Small Index Futures
Contractvalue*
EUR 10
EUR 10
USD 10
EUR 10
EUR 50
EUR 50
EUR 50
EUR 50
Minimum pricechange
Points
1
0.5
1
0.5
0.1
0.1
0.1
0.1
Value
EUR 10
EUR 5
USD 10
EUR 5
EUR 5
EUR 5
EUR 5
EUR 5
* Per index point of the underlying
Equity Index
Derivatives
31 30Equity Index
Derivatives
Contract
STOXX® Europe 50 Index Futures
STOXX® Global SelectDividend 100 Index Futures
STOXX® Europe 600 Index Futures
STOXX® Europe Large 200 Index Futures
STOXX® Europe Mid 200 Index Futures
STOXX® Europe Small 200 Index Futures
EURO STOXX®
Sector Index Futures
STOXX® Europe 600 Sector Index Futures
DAX® Futures
Mini-DAX® Futures
DivDAX® Futures
MDAX® Futures
TecDAX® Futures
SMI® Futures
SMIM® Futures
SLI® Futures
OMXH25 Futures
ATX® Futures
ATX® five Futures
CECE® EUR Index Futures
RDX® EUR Index Futures
RDX® USD Index Futures
Contractvalue*
EUR 10
EUR 10
EUR 50
EUR 50
EUR 50
EUR 50
EUR 50
EUR 50
EUR 25
EUR 5
EUR 200
EUR 5
EUR 10
CHF 10
CHF 10
CHF 10
EUR 10
EUR 10
EUR 10
EUR 10
EUR 10
USD 10
Minimum pricechange
Points
1
0.5
0.1
0.1
0.1
0.1
0.1
0.1
0.5
1
0.05
1
0.5
1
1
0.1
0.1
0.5
0.5
0.5
0.5
0.5
Value
EUR 10
EUR 5
EUR 5
EUR 5
EUR 5
EUR 5
EUR 5
EUR 5
EUR 12.50
EUR 5
EUR 10
EUR 5
EUR 5
CHF 10
CHF 10
CHF 1
EUR 1
EUR 5
EUR 5
EUR 5
EUR 5
USD 5
* Per index point of the underlying
Contract
MSCI Europe IndexFutures (FMEU)
MSCI Europe IndexFutures (FMED)
MSCI Europe GTR-IndexFutures (FMGE)
MSCI Europe GTR-IndexFutures (FMGU)
MSCI Europe Price IndexFutures
MSCI Europe Growth Index Futures
MSCI Europe Value IndexFutures
MSCI Europe exSwitzerland Index Futures
MSCI EMU Index Futures
MSCI EMU GTR-IndexFutures
MSCI World Index Futures (FMWO)
MSCI World Index Futures (FMWN)
MSCI World GTR-IndexFutures (FMWE)
MSCI World GTR-IndexFutures (FMWG)
MSCI World Price IndexFutures (FMWP)
MSCI World Midcap Index Futures
MSCI North America Index Futures
MSCI North America GTR-Index Futures
MSCI Kokusai IndexFutures
Contractvalue*
EUR 100
USD 10
EUR 100
USD 10
EUR 100
EUR 100
EUR 100
EUR 100
EUR 100
EUR 100
USD 10
EUR 100
EUR 100
USD 10
USD 10
USD 50
USD 10
USD 10
USD 10
Minimum pricechange
Points
0.05
1
0.05
1
0.05
0.05
0.05
0.05
0.05
0.05
1
0.1
0.05
1
0.5
0.5
1
1
1
Value
EUR 5
USD 10
EUR 5
USD 10
EUR 5
EUR 5
EUR 5
EUR 5
EUR 5
EUR 5
USD 10
EUR 10
EUR 5
USD 10
USD 5
USD 25
USD 10
USD 10
USD 10
33 32Equity Index
Derivatives
* Per index point of the underlying
MSCI Kokusai GTR-IndexFutures
MSCI AC Asia Pacific Index Futures
MSCI AC Asia Pacific exJapan Index Futures
MSCI Pacific Index Futures
MSCI Pacific GTR-IndexFutures
MSCI Pacific ex JapanIndex Futures
MSCI Frontier MarketsIndex Futures
MSCI Emerging MarketsIndex Futures (FMEM)
MSCI Emerging MarketsIndex Futures (FMEN)
MSCI Emerging MarketsPrice Index Futures (FMEF)
MSCI Emerging MarketsAsia Index Futures
MSCI Emerging MarketsEMEA Index Futures
MSCI Emerging MarketsLatin America Index Futures
MSCI ACWI Index Futures(FMAC)
MSCI ACWI Index Futures(FMAE)
MSCI ACWI ex USA IndexFutures
MSCI Australia IndexFutures
MSCI Canada Index Futures
MSCI Canada GTR-IndexFutures
USD 10
USD 100
USD 100
USD 10
USD 10
USD 10
USD 10
USD 100
EUR 100
USD 50
USD 100
USD 100
USD 100
USD 100
EUR 100
USD 100
USD 10
USD 10
USD 10
1
0.1
0.1
1
1
1
0.5
0.1
0.1
0.1
0.1
0.1
0.1
0.05
0.05
0.05
1
1
1
USD 10
USD 10
USD 10
USD 10
USD 10
USD 10
USD 5
USD 10
EUR 10
EUR 5
USD 10
USD 10
USD 10
USD 5
EUR 5
USD 5
USD 10
USD 10
USD 10
Contract Contractvalue*
Minimum pricechange
Points Value
MSCI Chile IndexFutures
MSCI China Free IndexFutures
MSCI Colombia IndexFutures
MSCI Czech Republic Index Futures
MSCI Egypt Index Futures
MSCI France Index Futures
MSCI France GTR-IndexFutures
MSCI Hungary IndexFutures
MSCI Hong Kong IndexFutures
MSCI India Index Futures
MSCI Indonesia IndexFutures
MSCI Japan Index Futures
MSCI Japan GTR-IndexFutures
MSCI Malaysia IndexFutures
MSCI Mexico Index Futures
MSCI Morocco IndexFutures
MSCI New Zealand Index Futures
MSCI Peru Index Futures
MSCI Philippines IndexFutures
USD 50
USD 50
USD 10
USD 50
USD 50
EUR 100
EUR 100
USD 100
USD 1
USD 100
USD 10
USD 10
USD 10
USD 100
USD 50
USD 100
USD 100
USD 10
USD 50
0.5
0.5
1
0.5
0.5
0.05
0.05
0.1
10
0.1
0.5
1
1
0.1
0.5
0.1
0.1
0.5
0.5
USD 25
USD 25
USD 10
USD 25
USD 25
EUR 5
EUR 5
USD 10
USD 10
USD 10
USD 5
USD 10
USD 10
USD 10
USD 25
USD 10
USD 10
USD 5
USD 25
Contract Contractvalue*
Minimum pricechange
Points Value
35 34Equity Index
Derivatives
Contract monthsStandard – up to 9 months: The three nearestquarterly months of the March, June, Septemberand December cycle.
TA-25 Index Futures – up to 3 months: The threenearest successive calendar months.
SENSEX Futures – up to 6 months: The three nearest successive calendar months and the following quarterly month of the March, June,September and December cycle thereafter.
MSCI Index Futures – up to 36 months:The twelve nearest quarterly months of the March,June, September and December cycle.
CECE® EUR Index Futures, RDX® EUR IndexFutures – up to 36 months:The four nearest quarterly months of the March,June, September and December cycle and the fourfollowing semi-annual months of the June andDecember cycle.
RDX® USD Index Futures – up to 60 months:The four nearest quarterly months of the March,June, September and December cycle, the fourfollowing semi-annual months of the June andDecember cycle and the two following annualmonths of the December cycle thereafter.
Last trading day and final settlement dayLast trading day is the third Friday of each maturitymonth if this is an exchange day; otherwise the exchange day immediately preceding that day.
Final settlement day is the last trading day, forSTOXX® Global Select Dividend 100 Index andMSCI Index Futures the exchange day followingthe last trading day.
MSCI Poland Index Futures
MSCI Qatar Index Futures
MSCI Russia Index Futures
MSCI Russia Price IndexFutures
MSCI South Africa IndexFutures
MSCI Thailand IndexFutures
MSCI UAE Index Futures
MSCI UK Index Futures(FMUK)
MSCI UK Index Futures(FMDK)
MSCI USA Index Futures
MSCI USA GTR-IndexFutures
MSCI USA Equal WeightedIndex Futures
MSCI USA Value WeightedIndex Futures
MSCI USA MomentumIndex Futures
MSCI USA Quality IndexFutures
SENSEX Futures
TA-25 Index Futures
USD 100
USD 10
USD 50
USD 10
USD 100
USD 10
USD 50
GBP 10
USD 10
USD 10
USD 10
USD 10
USD 10
USD 10
USD 10
USD 1
USD 25
0.1
0.5
0.5
0.5
0.1
0.5
0.1
1
1
1
1
1
1
1
1
5
0.5
USD 10
USD 5
USD 25
USD 5
USD 10
USD 5
USD 5
GBP 10
USD 10
USD 10
USD 10
USD 10
USD 10
USD 10
USD 10
USD 5
USD 12.50
Contract Contractvalue*
Minimum pricechange
Points Value
* Per index point of the underlying
37 36Equity Index
Derivatives
Last trading day and final settlement day forSENSEX Futures is the last Thursday of each maturity month if this is an exchange day (both at Eurex and BSE); otherwise the exchange dayimmediately preceding that day.
Last trading day for TA-25 Index Futures is theWednesday preceding the last Friday of eachmaturity month if this is an exchange day (both at Eurex and TASE); otherwise the exchange dayimmediately preceding that day.
Final settlement day for TA-25 Index Futures isthe Thursday preceding the last Friday of eachmaturity month if this is an exchange day both at Eurex and TASE; otherwise the exchange dayimmediately preceding that day. If the final settle-ment day of the TASE contracts is not an exchangeday at Eurex Exchange, the final settlement day of the Eurex contracts shall be the exchange dayat Eurex Exchange immediately following that day and on which the final settlement price ofTASE is available.
Close of trading in the maturing futures on the last trading day is at:
Contract
STOXX® Europe 50 Index Futures
STOXX® Europe 600 Index Futures
STOXX® Europe Large 200 Index Futures
STOXX® Europe Mid 200 Index Futures
STOXX® Europe Small 200 Index Futures
EURO STOXX® Sector Index Futures
STOXX® Europe 600 Sector Index Futures
STOXX® Global Select Dividend 100Index Futures
DAX® Futures
Mini-DAX® Futures
DivDAX® Futures
MDAX® Futures
TecDAX® Futures
SMI® Futures
SMIM® Futures
SLI® Futures
OMXH25 Futures
ATX® Futures
ATX® five Futures
CECE® EUR Index Futures
RDX® EUR/USD Index Futures
MSCI Index Futures
SENSEX Futures
TA-25 Index Futures
Close of trading
12:00 CET
22:00 CET
Beginning of the Xetra®
intraday auction starting at 13:00 CET(for MDAX® Futures at 13:05 CET).
09:00 CET
17:30 CET
12:00 CET
17:10 CET
16:30 CET
22:00 CET
11:00 CET (12:00 CEST)
22:00 CET
Contract
EURO STOXX 50® Index Futures
EURO STOXX 50® ex Financials IndexFutures
EURO STOXX 50® Quanto Index Futures
EURO STOXX® Select Dividend 30 IndexFutures
EURO STOXX® Index Futures
EURO STOXX® Large Index Futures
EURO STOXX®Mid Index Futures
EURO STOXX® Small Index Futures
Close of trading
12:00 CET
39 38Equity Index
Derivatives
Daily settlement priceThe daily settlement prices for the current maturitymonth are derived from the volume-weightedaverage of the prices of all transactions during the minute before 17:30 CET (for FSMI/FSMM/FSLI 17:20 CET, FCEE 17:10 CET, FRDE/FRDX16:30 CET, reference point), provided that morethan five trades have been trans acted within this period.
For the remaining maturity months, the daily settlement price for a contract is determinedbased on the average bid/ask spread of the combination order book.
Further details are available in the clearing con-di tions on www.eurexchange.com > Resources >Rules & Regulations.
Final settlement priceThe final settlement price is established by Eurex on the final settlement day according to the following rules:
Contract
STOXX® Europe 50 IndexFutures
STOXX® Europe 600 IndexFutures
STOXX® Europe Large 200Index Futures
STOXX® Europe Mid 200Index Futures
STOXX® Europe Small 200Index Futures
EURO STOXX® Sector IndexFutures
STOXX® Europe 600 SectorIndex Futures
STOXX® Global SelectDividend 100 Index Futures
DAX® Futures
Mini-DAX® Futures
DivDAX® Futures
MDAX® Futures
TecDAX® Futures
SMI® Futures
SMIM® Futures
SLI® Futures
OMXH25 Futures
ATX® Futures
ATX® five Futures
Final settlement price
Average of the respective STOXX®
Index values calculated between11:50 and 12:00 CET.
Value of the STOXX® GlobalSelect Dividend 100 Index, based on the closing prices of the respective electronic trading systems for the indexcomponent shares.
Value of the respective index,based on Xetra® auction prices ofthe respective index componentshares. The intraday auctionstarts at 13:00 CET (for MDAX®
component shares at 13:05 CET)
Value of the respective index,based on SIX Swiss Exchange opening prices of the respectiveindex component shares.
Value of the OMXH25, based on NASDAQ OMX Helsinki volume-weighted average pricesof the index component sharesfrom 08:40 until 17:30 CET.
Value of the respective index,based on the auction prices of the respective index com-ponent shares calculated by the electronic trading system of Vienna Stock Exchange.
Contract
EURO STOXX 50® IndexFutures
EURO STOXX 50® exFinancials Index Futures
EURO STOXX 50® QuantoIndex Futures
EURO STOXX® SelectDividend 30 Index Futures
EURO STOXX® Index Futures
EURO STOXX® Large IndexFutures
EURO STOXX®Mid IndexFutures
EURO STOXX® Small IndexFutures
Final settlement price
Average of the respective STOXX®
Index values calculated between11:50 and 12:00 CET.
Further information about Eurex Trade Entry Services is available in the appendix section or onwww.eurexchange.com > Products > Eurex Trade Entry Services.
Service hours
Trading in the U.S.The following equity index futures are available for trading in the U.S.:
EURO STOXX 50® Index FuturesEURO STOXX 50® ex Financials Index FuturesEURO STOXX 50® Quanto Index FuturesEURO STOXX® Select Dividend 30 Index FuturesEURO STOXX® Index FuturesEURO STOXX® Large Index FuturesEURO STOXX® Mid Index FuturesEURO STOXX® Small Index FuturesSTOXX Europe 50® Index FuturesSTOXX® Europe 600 Index Futures STOXX® Europe 600 Banks FuturesSTOXX® Europe 600 Industrial Goods & Services FuturesSTOXX® Europe 600 Insurance FuturesSTOXX® Europe 600 Media FuturesSTOXX® Europe 600 Travel & Leisure FuturesSTOXX® Europe 600 Utilities FuturesSTOXX® Europe Large 200 Index FuturesSTOXX® Europe Mid 200 Index FuturesSTOXX® Europe Small 200 Index Futures STOXX® Global Select Dividend 100 Index Futures
Trading hours07:50–22:00 CET(FT25: 08:30–22:00 CET)
Eurex Trade Entry ServicesThe following Eurex Trade Entry Services areavailable for equity index futures:
• Multilateral Trade Registration (MSCI Index Futures)• Block Trades• Flexible Futures• Vola Trades• EFPI Trades• EFS Trades• Trade Entry Service via e-mail (MSCI Russia Index Futures)
41 40Equity Index
Derivatives
Contract
CECE® EUR Index Futures
RDX® EUR/USD IndexFutures
MSCI Index Futures
SENSEX Futures
TA-25 Index Futures
Final settlement price
Value of the CECE® EUR Index,based on the closing prices of the respective electronic trading systems for the indexcomponent shares.
Value of the RDX® EUR/USDIndex, based on the closing prices of the London StockExchange (IOB) for the indexcomponent shares.
Value of the respective MSCIIndex, based on the closing pricesof the respective cash markets ofthe index component shares.
Value of the SENSEX, based onthe volume-weighted averageprices of the index componentshares during the last 30 tradingminutes.
Value of the TA-25 Index, based on TASE opening prices of the respective index com-ponent shares.
Contract
Standard
EURO STOXX® Sector Index Futures
STOXX® Europe 600 Sector Index Futures
TA-25 Index Futures
Time
08:00–22:00 CET
08:05–22:00 CET
08:30–22:00 CET
43 42
DAX® FuturesMini-DAX® Futures MDAX® FuturesTecDAX® FuturesSMIM® FuturesSLI Swiss Leader Index® FuturesMSCI Australia Index Futures MSCI China Free Index Futures MSCI Hong Kong Index Futures MSCI India Index Futures MSCI Indonesia Index Futures MSCI Japan GTR-Index Futures MSCI Japan Index Futures MSCI Malaysia Index FuturesMSCI Mexico Index Futures MSCI South Africa Index Futures MSCI Thailand Index Futures MSCI UK Index Futures MSCI USA Index Futures MSCI AC Asia Pacific ex Japan Index Futures MSCI ACWI Index Futures MSCI Emerging Markets Asia Index Futures MSCI Emerging Markets EMEA Index Futures MSCI Emerging Markets Index Futures (EUR)MSCI Emerging Markets Index Futures MSCI Emerging Markets Latin America Index Futures MSCI Emerging Markets Price Index Futures MSCI Europe Growth Index Futures MSCI Europe Index Futures MSCI Europe Price Index Futures MSCI Europe Value Index Futures MSCI Frontier Markets Index Futures MSCI Kokusai Index Futures (USD, GTR) MSCI Kokusai Index Futures (USD, NTR) MSCI Pacific ex Japan Index Futures MSCI World Index Futures (EUR) MSCI World Index Futures MSCI World Midcap Index Futures
MSCI World Price Index Futures TA-25 Index FuturesEurex Daily Futures on Mini-KOSPI 200 FuturesDaily Futures on TAIEX Futures
EURO STOXX 50® IndexTotal Return Futures
Underlying instruments
Settlement Cash settlement, payable on the first exchange dayfollowing the final settlement day.
Contract multiplier EUR 10 per index point.
Quotation and minimum change of the TRF spreadTRF spread as annualized rate expressed in basis pointswith one decimal place. The minimum change of the TRF spread is +/– 0.5 basis points (1 basis point =0.0001).
Trade types Trade at Index Close (TAIC) with an index level based on the daily EURO STOXX 50® Index close.Trade at Market (TAM) with a custom-defined index level.
Equity Index
Derivatives
Index type
Price index
DVP index
Funding rate
Currency
EUR
EUR
EUR
Index
EURO STOXX 50® Index
EURO STOXX 50® DistributionPoint Index
EONIA
45 44Equity Index
Derivatives
Accrued distributions and accrued fundingThe distribution and funding rate payments will be accumulated from the product launch dateand added to the TRF futures price in index points.The daily changes in distributions and fundingpayments are paid out via variation margin.
Contract monthsUp to 63 months: The 21 nearest quarterlymonths of the March, June, September andDecember cycle.
Last trading day and final settlement dayLast trading day is the exchange day immediatelypreceding the final settlement day. Final settlementday is the third Friday of each maturity month if this is an exchange day; otherwise the exchangeday immediately preceding that day. Close of trading in the maturing futures on the last tradingday is at 17:25 CET.
Daily settlement TRF spread (basis points)The daily settlement TRF spread is used to calculate the daily settlement price and determined as follows:• The daily settlement TRF spread is based on
the TRF spread traded via the closing auctionbetween 17:25 and 17:30 CET.
• Should no trades be executed in the closingauction, then the daily settlement TRF spread is determined based on the average bid/askspread of the respective contract month.
• Should no price be determined according tothe aforementioned procedure, the daily settlement TRF spread is determined based on a theoretic (fair) TRF spread for the respective contract.
Daily settlement price (index points)The daily settlement price is established on the current trading day and is based on the closeof EURO STOXX 50® Index, the daily settlementTRF spread as well as the accrued distributionsand accrued funding which have been accumulatedfrom the product launch until the current date.
Final settlement price (index points)The final settlement price is established by Eurex on the final settlement day of the contract and is based on the final settlement price ofEURO STOXX 50® Index Futures as well as the accrued distributions and accrued fundingfrom the product launch until the expiration date.
47 46
Options on
EURO STOXX 50® Index
EURO STOXX 50® ex Financials Index
EURO STOXX® Select Dividend 30 Index
EURO STOXX® Index
EURO STOXX® Large Index
EURO STOXX® Mid Index
EURO STOXX® Small Index
STOXX® Europe 50 Index
STOXX® Global Select Dividend 100 Index
STOXX® Europe 600 Index
STOXX® Europe Large 200 Index
STOXX® Europe Mid 200 Index
STOXX® Europe Small 200 Index
DAX®, the blue chip index of Deutsche Börse AG
DivDAX®, the dividend index of Deutsche Börse AG
MDAX®, the mid cap index of Deutsche Börse AG
TecDAX®, the technology index of Deutsche Börse AG
SMI®, the blue chip index of SIX Swiss Exchange
SMI® Mid, the mid cap index of SIX Swiss Exchange
SLI Swiss Leader Index®, the blue chip index with capped weightings of SIX Swiss Exchange
OMXH25, the Finnish equity index
ATX®, the Austrian blue chip index of Vienna Stock Exchange
ATX® five, consisting of the five shares with the highestweighting in the ATX®
ProductID
OESX
OEXF
OEDV
OXXE
OLCE
OMCE
OSCE
OSTX
OGDV
OXXP
OLCP
OMCP
OSCP
ODAX
ODIV
O2MX
OTDX
OSMI
OSMM
OSLI
OFOX
OATX
OATF
Equity Index
Derivatives
Underlyings
Equity IndexOptions
Options on
CECE® EUR Index, the composite Eastern Europeanindex of Vienna Stock Exchange comprising the stocksincluded in the Hungarian Traded Index (HTX), CzechTraded Index (CTX) and Polish Traded Index (PTX)
RDX® EUR/USD Index, the Russian blue chip index of Wiener Börse AG
SENSEX, the Indian blue chip index of Bombay Stock Exchange (BSE)
ProductID
OCEE
ORDE/ORDX
OSEN
MSCI Indexes
Options on
MSCI Europe Index
MSCI Europe Price Index
MSCI Europe Growth Index
MSCI Europe Value Index
MSCI World Index
MSCI World Price Index
MSCI World Index (EUR)
MSCI AC Asia Pacific ex Japan Index
MSCI Emerging Markets Index
MSCI Emerging Markets Price Index
MSCI Emerging Markets Index (EUR)
MSCI Emerging Markets Asia Index
MSCI Emerging Markets EMEA Index
MSCI Emerging Markets Latin America Index
MSCI Russia Price Index
ProductID
OMEU
OMEP
OMEG
OMEV
OMWO
OMWP
OMWN
OMAS
OMEM
OMEF
OMEN
OMEA
OMEE
OMEL
OMRU
EURO STOXX® sector index products
Options on
Automobiles & Parts
Banks
Basic Resources
Chemicals
Product ID
OESA
OESB
OESS
OESC
Sector code
SXAE
SX7E
SXPE
SX4E
49 48Equity Index
Derivatives
EURO STOXX® sector index products
Options on
Construction & Materials
Financial Services
Food & Beverage
Health Care
Industrial Goods & Services
Insurance
Media
Oil & Gas
Personal & Household Goods
Real Estate
Retail
Technology
Telecommunications
Travel & Leisure
Utilities
Product ID
OESN
OESF
OESO
OESH
OESG
OESI
OESM
OESE
OESZ
OESL
OESR
OESY
OEST
OESV
OESU
Sector code
SXOE
SXFE
SX3E
SXDE
SXNE
SXIE
SXME
SXEE
SXQE
SX86E
SXRE
SX8E
SXKE
SXTE
SX6E
STOXX® Europe 600 sector index products
Options on
Automobiles & Parts
Banks
Basic Resources
Chemicals
Construction & Materials
Financial Services
Food & Beverage
Health Care
Industrial Goods & Services
Insurance
Media
Oil & Gas
Personal & Household Goods
Real Estate
Product ID
OSTA
OSTB
OSTS
OSTC
OSTN
OSTF
OSTO
OSTH
OSTG
OSTI
OSTM
OSTE
OSTZ
OSTL
Sector code
SXAP
SX7P
SXPP
SX4P
SXOP
SXFP
SX3P
SXDP
SXNP
SXIP
SXMP
SXEP
SXQP
SX86P
STOXX® Europe 600 sector index products
Options on
Retail
Technology
Telecommunications
Travel & Leisure
Utilities
Product ID
OSTR
OSTY
OSTT
OSTV
OSTU
Sector code
SXRP
SX8P
SXKP
SXTP
SX6P
SettlementCash settlement, payable on the first exchangeday following the final settlement day.
Contract monthsUp to 12 months: The three nearest successivecalendar months, the three following quarterlymonths of the March, June, September andDecember cycle thereafter.
Up to 24 months: The three nearest successivecalendar months, the three following quarterlymonths of the March, June, September andDecember cycle thereafter, and the two followingsemi-annual months of the June and Decembercycle thereafter.
Up to 36 months: The three nearest successivecalendar months and the eleven following quarterlymonths of the March, June, September andDecember cycle thereafter.
Up to 60 months: The three nearest successivecalendar months, the three following quarterlymonths of the March, June, September andDecember cycle thereafter, the four followingsemi-annual months of the June and Decembercycle thereafter and the two following annualmonths of the December cycle thereafter.
Contract
EURO STOXX 50®
Index Options
EURO STOXX 50®
ex Financials IndexOptions
EURO STOXX®
Select Dividend 30Index Options
EURO STOXX®
Index Options
EURO STOXX® Large Index Options
EURO STOXX®Mid Index Options
EURO STOXX® Small Index Options
STOXX® Europe 50 Index Options
STOXX® Global SelectDividend 100 IndexOptions
STOXX® Europe 600Index Options
STOXX® Europe Large200 Index Options
STOXX® Europe Mid200 Index Options
STOXX® Europe Small200 Index Options
Contractvalue*
EUR 10
EUR 10
EUR 10
EUR 50
EUR 50
EUR 50
EUR 50
EUR 10
EUR 10
EUR 50
EUR 50
EUR 50
EUR 50
Con-tractmonths
119
24
60
24
24
24
24
60
60
60
60
60
60
Minimum pricechange
Points
0.1
0.1
0.1
0.1
0.1
0.1
0.1
0.1
0.1
0.1
0.1
0.1
0.1
Value
EUR 1
EUR 1
EUR 1
EUR 5
EUR 5
EUR 5
EUR 5
EUR 1
EUR 1
EUR 5
EUR 5
EUR 5
EUR 5
51 50Equity Index
Derivatives
Up to 119 months: The three nearest successivecalendar months, the three following quarterlymonths of the March, June, September andDecember cycle thereafter, the four followingsemi-annual months of the June and Decembercycle thereafter and the seven following annualmonths of the December cycle thereafter.
Contract values, price quotation and minimum price change
Contract
EURO STOXX® SectorIndex Options
EURO STOXX® BanksOptions
STOXX® Europe 600Sector Index Options
STOXX® Europe 600Banks Options
DAX® Options
DivDAX® Options
MDAX® Options
TecDAX® Options
SMI® Options
SMIM® Options
SLI® Options
OMXH25 Options
ATX® Options
ATX® five Options
CECE® EUR IndexOptions
RDX® EUR IndexOptions
RDX® USD IndexOptions
MSCI Europe IndexOptions
MSCI Europe PriceIndex Options
MSCI Europe GrowthIndex Options
MSCI Europe ValueIndex Options
MSCI World IndexOptions
Contractvalue*
EUR 50
EUR 50
EUR 50
EUR 50
EUR 5
EUR 200
EUR 5
EUR 10
CHF 10
CHF 10
CHF 10
EUR 10
EUR 10
EUR 10
EUR 10
EUR 10
USD 10
EUR 100
EUR 100
EUR 100
EUR 100
USD 10
Con-tractmonths
24**
60
24***
60
60
24
24
24
60
24
60
12
24
24
60
60
119
60
60
24
24
60
Minimum pricechange
Points
0.1
0.05
0.1
0.05
0.1
0.01
0.1
0.1
0.1
0.1
0.1
0.1
0.1
0.1
0.1
0.1
0.1
0.01
0.01
0.01
0.01
0.1
Value
EUR 5
EUR 2.50
EUR 5
EUR 2.50
EUR 0.50
EUR 2
EUR 0.50
EUR 1
CHF 1
CHF 1
CHF 1
EUR 1
EUR 1
EUR 1
EUR 1
EUR 1
USD1
EUR 1
EUR 1
EUR 1
EUR 1
USD1
* Per index point of the underlying.** For OESA, OESB, OESI, OESE, OEST, OESU 60 months.*** For OSTA, OSTB, OSTS, OSTG, OSTI, OSTE, OSTT, OSTU 60 months.
52 53Equity Index
Derivatives
Contract
MSCI World PriceIndex Options
MSCI World IndexOptions (EUR)
MSCI AC Asia Pacificex Japan IndexOptions
MSCI EmergingMarkets IndexOptions
MSCI EmergingMarkets Price IndexOptions
MSCI EmergingMarkets IndexOptions (EUR)
MSCI EmergingMarkets Asia IndexOptions
MSCI EmergingMarkets EMEA IndexOptions
MSCI EmergingMarkets Latin AmericaIndex Options
MSCI Russia PriceIndex Options
SENSEX Options
Contractvalue*
USD 10
EUR 100
USD 100
USD 100
USD 50
EUR 100
USD 100
USD 100
USD 100
USD 10
USD 1
Con-tractmonths
60
60
24
60
60
60
24
24
24
24
24
Minimum pricechange
Points
0.1
0.1
0.1
0.1
0.1
0.1
0.1
0.1
0.1
0.1
1
Value
USD1
EUR 10
USD 10
USD 10
USD 5
EUR 10
USD 10
USD 10
USD 10
USD 1
USD 1
Last trading day and final settlement dayLast trading day is the third Friday of each expiration month if this is an exchange day;otherwise the exchange day immediately preceding that day (for SMI®, SMIM® and SLI®
Options the exchange day preceding the thirdFriday of each expiration month).
*Per index point of the underlying.
Final settlement day is the last trading day, forSTOXX® Global Select Dividend 100 Index andMSCI Index Options the exchange day followingthe last trading day.
Last trading day and final settlement day forSENSEX Options is the last Thursday of each expiration month if this is an exchange day (bothat Eurex and BSE); otherwise the exchange dayimmediately preceding that day.
Close of trading in the expiring option series onthe last trading day is at:
Contract
EURO STOXX 50® Index Options
EURO STOXX 50® ex Financials IndexOptions
EURO STOXX® Select Dividend 30 IndexOptions
EURO STOXX® Index Options
EURO STOXX® Large Index Options
EURO STOXX®Mid Index Options
EURO STOXX® Small Index Options
STOXX® Europe 50 Index Options
STOXX® Europe 600 Index Options
STOXX® Europe Large 200 Index Options
STOXX® Europe Mid 200 Index Options
STOXX® Europe Small 200 Index Options
EURO STOXX® Sector Index Options
STOXX® Europe 600 Sector Index Options
STOXX® Global Select Dividend 100 Index Options
DAX® Options
DivDAX® Options
MDAX® Options
TecDAX® Options
Close of trading
12:00 CET
17:30 CET
Beginning of the Xetra® intraday auction starting at 13:00 CET (for MDAX® Options at 13:05 CET)
54 55Equity Index
Derivatives
Daily settlement priceThe daily settlement price is established by Eurex.The daily settlement prices for equity index options (as well as Weekly Options) are determinedthrough the Black/Scholes 76 model. If necessary,dividend expectations, current interest rates orother payments are taken into consideration.
Further details are available in the clearing con-di tions on www.eurexchange.com > Resources >Rules & Regulations.
Final settlement priceThe final settlement price is established by Eurex on the final settlement day according to the following rules:
Contract
SMI® Options
SMIM® Options
SLI® Options
OMXH25 Options
ATX® Options
ATX® five Options
CECE® EUR Index Options
RDX® EUR/USD Index Options
MSCI Index Options
SENSEX Options
Close of trading
17:20 CET
17:30 CET
12:00 CET
16:30 CET
16:30 CET
17:30 CET
11:00 CET (12:00 CEST)
Contract
EURO STOXX 50® Index Options
EURO STOXX 50® ex Financials IndexOptions
EURO STOXX® Select Dividend 30 Index Options
Final settlement price
Average of the respec-tive STOXX® Index values calculated between 11:50 and 12:00 CET.
Contract
EURO STOXX® Index Options
EURO STOXX® Large IndexOptions
EURO STOXX®Mid IndexOptions
EURO STOXX® Small IndexOptions
STOXX® Europe 50 IndexOptions
STOXX® Europe 600 IndexOptions
STOXX® Europe Large 200Index Options
STOXX® Europe Mid 200Index Options
STOXX® Europe Small 200Index Options
EURO STOXX® Sector IndexOptions
STOXX® Europe 600 SectorIndex Options
STOXX® Global SelectDividend 100 Index Options
DAX® Options
DivDAX® Options
MDAX® Options
TecDAX® Options
SMI® Options
SMIM® Options
SLI® Options
OMXH25 Options
Final settlement price
Average of the respectiveSTOXX® Index values calculated between 11:50 and 12:00 CET.
Value of the STOXX® GlobalSelect Dividend 100 Index, based on the closing prices of the respective electronic trading systems for the indexcomponent shares.
Value of the respective index,based on Xetra® auction prices ofthe respective index componentshares. The intraday auction starts at 13:00 CET (for MDAX®
component shares at 13:05 CET).
Value of the respective index,based on SIX Swiss Exchange opening prices of the respectiveindex component shares.
Value of the OMXH25, based onNASDAQ OMX Helsinki volume-weighted average prices of the index component shares from 08:40 until 17:30 CET.
57 56Equity Index
Derivatives
Contract
ATX® Options
ATX® five Options
CECE® EUR Index Options
RDX® EUR/USD IndexOptions
MSCI Index Options
SENSEX Options
Final settlement price
Value of the respective index,based on the auction prices of the respective index com-ponent shares calculated by the electronic trading system of Vienna Stock Exchange.
Value of the CECE® EUR Index,based on the closing prices of the respective electronic trading systems for the indexcomponent shares.
Value of the RDX® EUR/USDIndex, based on the closing prices of the London StockExchange (IOB) for the indexcomponent shares.
Value of the respective MSCIIndex, based on the closing pricesof the respective cash markets of the index component shares.
Value of the SENSEX, based onthe volume-weighted averageprices of the index componentshares during the last 30 tradingminutes.
ExerciseEuropean-style; an option can only be exercisedon the final settlement day of the respectiveoption series until the end of the Post-Trading Full Period (20:30 CET).
Exercise prices
Contract
EURO STOXX 50®
Index Options
EURO STOXX 50®
ex Financials IndexOptions
EURO STOXX®
Select Dividend 30Index Options
EURO STOXX®
Index Options
EURO STOXX® Large Index Options
EURO STOXX® Mid Index Options
EURO STOXX® Small Index Options
STOXX® Europe 50 Index Options
STOXX® Global SelectDividend 100 IndexOptions
STOXX®Europe 600Index Options
STOXX® Europe Large200 Index Options
STOXX® Europe Mid200 Index Options
STOXX® Europe Small200 Index Options
EURO STOXX®
Sector Index Options
EURO STOXX®
Banks Options
STOXX® Europe 600Sector Index Options
Exercise price intervals in indexpoints for expiration months with a remaining lifetime of
< 3mon.
25*
25**
50
5
5
5
5
25
50
2.5
5
5
5
5
2.5
5
4–12mon.
50
50
50
10
10
10
10
50
50
5
10
10
10
10
5
10
13–24mon.
50
50
100
20
20
20
20
100
100
10
20
20
20
20
10
20
25–36mon.
50
-
-
-
-
-
-
100
100
20
20
20
20
50
20
50
* For EURO STOXX 50® Index Options (including the term group 5 weeks) only <_ 6 months.
** For EURO STOXX 50® ex Financials Index Options only <_ 6 months.
> 36mon.
100
-
-
-
-
-
-
100
100
20
20
20
20
50
20
50
59 58Equity Index
Derivatives
Contract
MSCI EmergingMarkets IndexOptions
MSCI EmergingMarkets IndexOptions (EUR)
MSCI EmergingMarkets Price IndexOptions
MSCI EmergingMarkets Asia IndexOptions
MSCI EmergingMarkets EMEA IndexOptions
MSCI EmergingMarkets Latin AmericaIndex Options
MSCI Russia IndexOptions
SENSEX Options
Exercise price intervals in indexpoints for expiration months with a remaining lifetime of
< 3mon.
5
5
25*
5
5
5
5
200
4–12mon.
10
10
50
10
10
10
10
200
13–24mon.
20
20
100
20
20
20
20
400
25–36mon.
50
50
100
-
-
-
-
-
> 36mon.
50
50
100
-
-
-
-
-
* <_ 6 months
Contract
STOXX® Europe 600Banks Options
DAX® Options
DivDAX® Options
MDAX® Options
TecDAX® Options
SMI® Options
SMIM® Options
SLI® Options
OMXH25 Options
ATX® Options
ATX® five Options
CECE® EUR IndexOptions
RDX® EUR IndexOptions
RDX® USD IndexOptions
MSCI Europe IndexOptions
MSCI Europe PriceIndex Options
MSCI Europe GrowthIndex Options
MSCI Europe ValueIndex Options
MSCI World IndexOptions
MSCI World IndexOptions (EUR)
MSCI World PriceIndex Options
MSCI AC Asia Pacificex Japan IndexOptions
Exercise price intervals in indexpoints for expiration months with a remaining lifetime of
< 3mon.
2.5
50
5
100
10
50
5
5
25
25*
25*
25*
25
25
5
5
5
5
50
5
25*
5
4–12mon.
5
50
5
200
20
50
10
10
25
50
50
50
50
50
5
5
5
5
50
5
50
10
13–24mon.
10
100
10
400
40
100
20
20
-
100
100
100
100
100
10
10
10
10
100
10
100
20
25–36mon.
20
200
-
-
-
200
-
50
-
-
-
100
100
100
10
10
-
-
100
10
100
-
> 36mon.
20
200
-
-
-
200
-
50
-
-
-
100
100
100
10
10
-
-
100
10
100
-
* <_ 6 months
Number of exercise pricesUpon the admission of the options, at least sevenexercise prices shall be made available for eachdue date with a term of up to 24 months for eachcall and put, such that three exercise prices are in-the-money, one is at-the-money and three areout-of-the-money.
Upon the admission of the options, at least fiveexercise prices shall be made available for eachdue date with a term of more than 24 months for each call and put, such that two exercise prices are in-the-money, one is at-the-moneyand two are out-of-the-money.
61 60Equity Index
Derivatives
Option premiumThe equivalent of the premium in points, pay-able in full in the currency of the respective contract on the exchange day following the dayof the trade.
Trading hours
Eurex Trade Entry ServicesThe following Eurex Trade Entry Services areavailable for equity index options:
• Block Trades• Flexible Options• Vola Trades• Trade Entry Service via e-mail (MSCI Russia Index Options)
Further information about Eurex Trade Entry Services is available in the appendix section or onwww.eurexchange.com > Products > Eurex TradeEntry Services.
Contract
Standard
EURO STOXX® Index Options
EURO STOXX® Large/Mid/SmallIndex Options
STOXX® Europe 600 Index Options
STOXX® Europe Large/Mid/Small200 Index Options
STOXX® Europe 600 Sector IndexOptions
SMI® Options
SMIM® Options
SLI® Options
CECE® EUR Index Options
RDX® EUR/USD Index Options
SENSEX Options
Trading hours
08:50–17:30 CET
09:00–17:30 CET
08:50–17:20 CET
08:50–17:10 CET
08:50–16:30 CET
08:00–17:30 CET
Service hours09:00–19:00 CET(RDX® USD Index Options 09:15–19:00 CET,SENSEX Options 08:00–19:00 CET)
63 62
This section only lists the differences with respectto the regular contract specifications for equityindex options.
Contract standards
Weekly Options
Equity Index
Derivatives
Contract
EURO STOXX 50®, 1st Friday Weekly Options
EURO STOXX 50®, 2nd Friday Weekly Options
EURO STOXX 50®, 4th Friday Weekly Options
EURO STOXX 50®, 5th Friday Weekly Options
EURO STOXX® Banks, 1st Friday Weekly Options
EURO STOXX® Banks, 2nd Friday Weekly Options
EURO STOXX® Banks, 4th Friday Weekly Options
EURO STOXX® Banks, 5th Friday Weekly Options
DAX®, 1st Friday Weekly Options
DAX®, 2nd Friday Weekly Options
DAX®, 4th Friday Weekly Options
DAX®, 5th Friday Weekly Options
ProductID
OES1
OES2
OES4
OES5
OEB1
OEB2
OEB4
OEB5
ODX1
ODX2
ODX4
ODX5
Underlying
EURO STOXX 50®
Index
EURO STOXX®
Banks Index
DAX®, the blue chip index of Deutsche Börse AG
Contract months1st, 2nd and 4th Friday Weekly Options: Onemonth for all contracts expiring on the 1st, 2ndand 4th Friday of a calendar month. At the start of trading on each Friday, the Weekly Options for the same week of the following month will be listed.
5th Friday Weekly Options: More than onemonth for contracts expiring on the 5th Friday of a calen dar month. For months without a 5th Friday, the option expiration will fall on the next 5th Friday.
Contract
SMI®, 1st Friday Weekly Options
SMI® , 2nd Friday Weekly Options
SMI® , 4th Friday Weekly Options
SMI® , 5th Friday Weekly Options
ProductID
OSM1
OSM2
OSM4
OSM5
Underlying
SMI®, the blue chip index of SIX Swiss Exchange
Contract
EURO STOXX 50®, 1st Friday Weekly Options
EURO STOXX 50®, 2nd Friday Weekly Options
EURO STOXX 50®, 4th Friday Weekly Options
EURO STOXX 50®, 5th Friday Weekly Options
EURO STOXX® Banks, 1st Friday Weekly Options
EURO STOXX® Banks, 2nd Friday Weekly Options
EURO STOXX® Banks, 4th Friday Weekly Options
EURO STOXX® Banks, 5th Friday Weekly Options
Contractvalue
EUR 10
EUR 50
Minimum pricechange
Points
0.1
0.05
Value
EUR 1
EUR 2.50
65 64Equity Index
Derivatives
Exercise pricesThe exercise price interval for Weekly Options onthe EURO STOXX 50® Index is 25 index points.
Eurex Trade Entry ServicesThe following Eurex Trade Entry Services are available for Weekly Options:
• Block Trades• Vola Trades
Further information about Eurex Trade Entry Services is available in the appendix section or onwww.eurexchange.com > Products > Eurex TradeEntry Services.
In cooperation with Korea Exchange, Inc. (KRX), daily futures on KOSPI 200 Derivatives are available for trading and clearing for Eurex members.
The Eurex/KRX-Link is giving Eurex membersdirect access to KOSPI 200 Derivatives afterKorean trading hours.
Eurex Daily Futures on KOSPI 200 Options
Contract sizeOne KOSPI 200 Options contract of the relevantoption series. The currency of Eurex Daily Futures on KOSPI 200 Options is the SouthKorean Won (KRW).
Settlement Cash settlement and opening of the respectiveposition in the corresponding series of the KOSPI200 Options on the next exchange day of KRXfollowing the conclusion of a Eurex Daily Futureson KOSPI 200 Options contract, at the latest,
Eurex/KRX-LinkContract
DAX®, 1st Friday Weekly Options
DAX®, 2nd Friday Weekly Options
DAX®, 4th Friday Weekly Options
DAX®, 5th Friday Weekly Options
SMI®, 1st Friday Weekly Options
SMI® , 2nd Friday Weekly Options
SMI® , 4th Friday Weekly Options
SMI® , 5th Friday Weekly Options
Contractvalue
EUR 5
CHF 10
Minimum pricechange
Points
0.1
0.1
Value
EUR 0.50
CHF 1
Contract
Eurex Daily Futureson KOSPI 200Options of the KoreaExchange (KRX)
Product ID
OKS2
Underlying
The relevant KOSPI 200Options series listed at KRX
67 66Equity Index
Derivatives
however, 40 minutes before opening of exchangetrading on KRX via entry into the KRX system in favour of the respective counterparties of the option contracts.
Price quotation and minimum price changeThe price quotation is in points with two decimalplaces. The minimum price change is 0.05 points, if the option premium of the underlying is at least10 points (equivalent to a value of KRW 25,000),and 0.01 points, if the option premium of the underlying is less than 10 points (equivalent to a value of KRW 5,000).
Contract termOne exchange day. Eurex Daily Futures on KOSPI 200 Options can be traded on each day,provided that this day is an exchange day at both Eurex and KRX. Every contract expires at the end of the exchange day on which it has been concluded on the Eurex Exchanges.
Last trading day and final settlement dayLast trading day is the final settlement day. Each trading day of Eurex Daily Futures on KOSPI200 Options is also the last trading day. Close oftrading is at 21:00 CET.
Daily settlement priceThe daily settlement price of Eurex Daily Futureson KOSPI 200 Options is also the final settlementprice and is equivalent to the daily settlement price calculated by KRX for the KOSPI 200Options contracts admitted for trading on KRXon the respective exchange day as of the close of trading on KRX. The cash flow resulting from the variation margin will be paid or received in KRW at the Shinhan Bank in South Korea.
Trading hours10:00–21:00 CET (11:00–21:00 Uhr CEST)
Eurex Trade Entry ServicesThe following Eurex Trade Entry Services are available for Eurex Daily Futures on KOSPI 200 Options:
• Multilateral Trade Registration• Block Trades
Further information about Eurex Trade Entry Services is available in the appendix section or onwww.eurexchange.com > Products > Eurex TradeEntry Services.
Service hours10:00–21:00 CET (11:00–21:00 CET during daylight saving time in Europe)
Eurex Daily Futures on Mini-KOSPI 200 Futures
Contract sizeOne Mini-KOSPI 200 Futures contract of the relevant series. The currency of Eurex DailyFutures on Mini-KOSPI 200 Futures is the SouthKorean Won (KRW).
Contract
Eurex Daily Futureson Mini-KOSPI 200Futures of the KoreaExchange (KRX)
Product ID
FMK2
Underlying
The relevant Mini-KOSPI 200 Futureslisted at KRX
69 68Equity Index
Derivatives
Settlement Cash settlement and opening of the respectiveposition in the corresponding series of the Mini-KOSPI 200 Futures on the next exchange day of KRX following the conclusion of a Eurex DailyFutures on Mini-KOSPI 200 Futures contract, at the latest, however, 40 minutes before openingof exchange trading on KRX via entry into the KRX system in favour of the respective counter-parties of the futures contracts.
Price quotation and minimum price changeThe price quotation is in points with two decimalplaces. The minimum price change is 0.02 points,equivalent to a value of KRW 1,000.
Contract termOne exchange day. Eurex Daily Futures on Mini-KOSPI 200 Futures can be traded on each day,provided that this day is an exchange day at both Eurex and KRX. Every contract expires at the end of the exchange day on which it has been concluded on the Eurex Exchanges.
Last trading day and final settlement dayLast trading day is the final settlement day. Each trading day of Eurex Daily Futures on Mini-KOSPI 200 Futures is also the last trading day.Close of trading is at 21:00 CET.
Daily settlement priceThe daily settlement price of Eurex Daily Futureson Mini-KOSPI 200 Futures is also the final settlement price and is equivalent to the dailysettlement price calculated by KRX for the Mini-KOSPI 200 Futures admitted for trading on KRXon the respective exchange day as of the close
of trading on KRX. The cash flow resulting fromthe variation margin will be paid or received in KRW at the Shinhan Bank in South Korea.
Trading hours10:00–21:00 Uhr CET (11:00–21:00 Uhr CEST)
Eurex Trade Entry ServicesThe following Eurex Trade Entry Services are available for Eurex Daily Futures on Mini-KOSPI 200 Futures:
• Multilateral Trade Registration• Block Trades
Further information about Eurex Trade Entry Services is available in the appendix section or onwww.eurexchange.com > Products > Eurex TradeEntry Services.
Service hours10:00–21:00 CET (11:00–21:00 CET during daylight saving time in Europe)
Eurex Daily Futures on Mini-KOSPI 200 Futuresare available for trading in the U.S.
71 70Equity Index
Derivatives
Eurex Exchange and the Taiwan Futures Exchange(TAIFEX) have created a common link makingTAIEX Futures and Options available for the firsttime after Taiwanese trading hours. Thus offeringan overnight market that enables internationalinvestors and traders to access the TAIEX indexderivatives market during European and U.S. coretrading hours. The link for 24 hour trading andclearing of TAIEX Futures and Options has beenrealized by listing a derivatives contract (DailyFutures) on Eurex Exchange for which the under-lying is a position in the corresponding TAIEXFutures and Options traded on TAIFEX. At the endof each trading day at Eurex Exchange, the openinterest is transferred to the TAIFEX clearing house.
Daily Futures on TAIEX Futures
Contract sizeOne TAIEX futures contract of the correspondingmaturity.
Eurex/TAIFEX-Link
Contract
Daily Futures onTAIEX Futures
Product ID
FTX
Underlying
The futures listed at TAIFEXon the TAIEX
Settlement Variation margin at Eurex Exchange and physicaldelivery via position establishment in TAIEXFutures at TAIFEX on the following exchange dayat TAIFEX prior to its market opening.
Price quotation and minimum price changeThe price quotation is in points without decimalplaces. The minimum price change is 1 point,equivalent to a value of TWD 200.
Contract termOne trading day
Daily settlement price (and final settlement price)The daily settlement price is also the final settle-ment price and corresponds to the daily settle-ment price for TAIEX Futures calculated by TAIFEXfor the respective contract month on the sameexchange day at TAIFEX. The cash flow resultingfrom the variation margin will be booked in TWDon a correspondent bank account in Taiwan.
Trading daysEvery day if this is an exchange day both at EurexExchange and TAIFEX, with the exception of theexchange day preceding the Chinese New Year.
Trading hours07:45 – 21:00 CET (14:45 – 04:00 CST)08:45 – 21:00 CEST (14:45 – 03:00 CST)
Eurex Trade Entry ServicesThe following Eurex Trade Entry Services are available for Daily Futures on TAIEX Futures:
• Block Trades
73 72Equity Index
Derivatives
Further information about Eurex Trade EntryServices is vailable in the appendix section or on www.eurexchange.com > Products > Eurex TradeEntry Services
Service hours07:45 –21:00 CET08:45 –21:00 CEST
Daily Futures on TAIEX Futures are available fortrading in the U.S.
Daily Futures on TAIEX Options
Contract sizeOne TAIEX option contract of the correspondingseries.
Settlement Variation margin at Eurex Exchange and physicaldelivery via position establishment in TAIEXOptions at TAIFEX on the following exchange dayat TAIFEX prior to its market opening.
Contract
Daily Futures on TAIEX Options
Daily Futures on TAIEX WeeklyOptions, 1st week
Daily Futures on TAIEX WeeklyOptions, 2nd week
Daily Futures on TAIEX WeeklyOptions, 4th week
Daily Futures on TAIEX WeeklyOptions, 5th week
ProductID
OTX
OTX1
OTX2
OTX4
OTX5
Underlying
The corre-sponding option listedat TAIFEX on the TAIEX
Price quotation and minimum price changeThe price quotation is in points without decimalplaces. The minimum price change is
• 0.1 points for prices below 10 points, equivalent to a value of TWD 5• 0.5 points for prices below 50 points, equivalent to a value of TWD 25• 1 points for prices below 500 points, equivalent to a value of TWD 50• 5 points for prices below 1,000 points, equivalent to a value of TWD 250• 10 points for prices from 1,000 points, equivalent to a value of TWD 500.
Contract termOne exchange day
Daily settlement price (and final settlement price)The daily settlement price is also the final settle-ment price and corresponds to the daily settle-ment price for TAIEX Options calculated by TAIFEXfor the respective contract month on the sameexchange day at TAIFEX. The cash flow resultingfrom the variation margin will be booked in TWDon a correspondent bank account in Taiwan.
Trading daysEvery day if this is an exchange day both at EurexExchange and TAIFEX with the exception of theexchange day preceding the Chinese New Year.
Trading hours07:45 – 21:00 CET (14:45 – 04:00 CST)08:45 – 21:00 CEST (14:45 – 03:00 CST)
74
Eurex Trade Entry ServicesThe following Eurex Trade Entry Services are available for Daily Futures on TAIEX Options:
• Multilateral Trade Registration• Block Trades
Further information about Eurex Trade EntryServices is vailable in the appendix section or on www.eurexchange.com > Products > Eurex TradeEntry Services
Service hours07:45 –21:00 CET08:45 –21:00 CEST
FX Derivatives
77FX Derivatives
Underlyings
Contract sizes
The currency stated first in each currency pair is the base currency of such pair; the currency stated second is the quote currency. An FX Futuresis traded in its respective quote currency.
FX Futures
Product ID
FCAU
FCAY
FCEU
FCEF
FCEP
FCEA
FCEY
FCPU
FCPF
FCUF
FCUY
FCNU
Contract
AUD/USD Futures
AUD/JPY Futures
EUR/USD Futures
EUR/CHF Futures
EUR/GBP Futures
EUR/AUD Futures
EUR/JPY Futures
GBP/USD Futures
GBP/CHF Futures
USD/CHF Futures
USD/JPY Futures
NZD/USD Futures
Nominal value
AUD 100,000
EUR 100,000
GBP 100,000
USD 100,000
NZD 100,000
Underlying
AUD/USD, AUD/JPY Futures
EUR/USD, EUR/CHF, EUR/GBP,EUR/AUD, EUR/JPY Futures
GBP/USD, GBP/CHF Futures
USD/CHF, USD/JPY Futures
NZD/USD Futures
76
Settlement Physical delivery of underlying currencies (T+2)via the CLS system.
Price quotation and minimum price change The price quotation is determined as a decimalnumber with five decimal places. The minimumprice change is 0.00001, equivalent to a value ofone unit of the quote currency.
For FX Futures with Japanese Yen as quotationcurrency the price quotation is determined as a decimal number with three decimal places.The minimum price change is 0.001, equivalent to a value of 100 units of the quote currency.
Contract monthsUp to 36 months: The three nearest successivecalendar months, the three following quarterlymonths of the March, June, September andDecember cycle thereafter, and the four followingsemi-annual months of the June and Decembercycle thereafter.
Last trading day and final settlement dayLast trading day and final settlement day is the third Wednesday of each maturity month ifthis is an exchange day; otherwise the exchangeday immediately preceding that day. Close of trading in the maturing futures on the last tradingday is at 15:00 CET.
Daily settlement price The daily settlement price is the volume weightedaverage price (VWAP) of the futures transactionscalculated over a 60 second interval ending at17:30 CET. If less than five transactions occur,
79FX Derivatives
78
the VWAP of the last five transactions conductedin the last 15 minutes before 17:30 CET or the mid-point of bid/ask prices in the order book before17:30 CET is used.
Further details are available in the clearing con-ditions on www.eurexchange.com > Resources >Rules & Regulations.
Final settlement priceThe final settlement price is the VWAP of all trans-actions executed during the final trading minuteending at 15:00 CET. If no adequate prices areavailable, Eurex Exchange will use the averagemid-price of the last displayed bid ask spot pricesover a 60 second interval ending at 15:00 CETthat are published by the data provider designatedby Eurex Clearing.
Trading hours08:00–22:00 CET
Eurex Trade Entry ServicesThe following Eurex Trade Entry Services are available for FX Futures:
• Multilateral Trade Registration• Block Trades• Vola Trades• EFP Trades
Further information about Eurex Trade EntryServices is vailable in the appendix section or on www.eurexchange.com > Products > Eurex TradeEntry Services
Service hours08:00–22:00 CET
On a maturity day of a series the entry of trades in the maturing front month contract using the Block Trade Service is possible until 15:00 CET.
Selected FX Futures are available for trading in the U.S.
Underlyings
Contract sizes
The currency stated first in each currency pairis the base currency of such pair; the currency stated second is the quote currency. An FX Optionis traded in its respective quote currency.
81 80FX Derivatives
Product ID
OCAU
OCAY
OCEU
OCEF
OCEP
OCEA
OCEY
OCPU
OCPF
OCUF
OCUY
OCNU
Contract
AUD/USD Options
AUD/JPY Options
EUR/USD Options
EUR/CHF Options
EUR/GBP Options
EUR/AUD Options
EUR/JPY Options
GBP/USD Options
GBP/CHF Options
USD/CHF Options
USD/JPY Options
NZD/USD Options
Nominal value
AUD 100,000
EUR 100,000
GBP 100,000
USD 100,000
NZD 100,000
Underlying
AUD/USD, AUD/JPY Options
EUR/USD, EUR/CHF, EUR/GBP,EUR/AUD, EUR/JPY Options
GBP/USD, GBP/CHF Options
USD/CHF, USD/JPY Options
NZD/USD Options
FX Options Settlement Physical delivery of underlying currencies (T+2)via the CLS system.
Price quotation and minimum price changeThe price quotation is determined as a decimalnumber with five decimal places. The minimumprice change is 0.00005, equivalent to a value offive units of the quote currency.
For FX Options with Japanese Yen as quotationcurrency the price quotation is determined as a decimal number with three decimal places.The minimum price change is 0.005, equivalent to a value of 500 units of the quote currency.
Contract monthsUp to 36 months: The three nearest successivecalendar months, the three following quarterlymonths of the March, June, September andDecember cycle thereafter, and the four followingsemi-annual months of the June and Decembercycle thereafter.
Last trading day and final settlement dayLast trading day and final settlement day is the third Wednesday of each expiration month ifthis is an exchange day; otherwise the exchangeday immediately preceding that day. Close of trading in the expiring FX Option series on the lasttrading day is at 15:00 CET.
Daily settlement priceThe underlying reference price for FX Options contracts is the daily settlement price of the corre-sponding FX Futures series.
83 82FX Derivatives
Further details are available in the clearing con-ditions on www.eurexchange.com > Resources >Rules & Regulations.
Final settlement priceThe final settlement price of the correspondingexpiring FX Futures contract shall be relevant forthe FX Option contract.
ExerciseEuropean-style; an option can only be exercisedon the final settlement day of the respective option series until the end of the Post-TradingFull-Period (16:00 CET).
Exercise pricesOption series of FX Options contracts with a termof up to 24 months have exercise prices with pricegradations of 0.005 units of the quote currency or 0.010 units of the quote currency for terms ofmore than 24 months.
Options series of FX Options with Japanese Yenas quote currency and a term of up to 24 monthshave exercise prices with price gradations of 0.5 units of the quote currency or 1 unit of thequote currency for terms of more than 24 months.
Number of exercise pricesUpon the admission of options, at least 15 exerciseprices shall be made available for each due datefor each call and put, such that seven are in-the-money, one is at-the-money and seven are out-of-the-money.
Trading hours08:00–19:30 CET
Eurex Trade Entry ServicesThe following Eurex Trade Entry Services are available for FX Options:
• Multilateral Trade Registration• Block Trades• Vola Trades
Further information about Eurex Trade EntryServices is vailable in the appendix section or on www.eurexchange.com > Products > Eurex TradeEntry Services
Service hours08:00–20:00 CET
On a maturity day of a series the entry of trades in the maturing front month contract using the Block Trade Service is possible until 15:00 CET.
Dividend Derivatives
Dividend
Derivatives
85
Contract standardsDividends of selected Eurozone, British, Swissand U.S. blue chip shares.
Information about currently available Single StockDividend Futures can be found onwww.eurexchange.com > Products.
Contract valueDividend payments in relation to a contract sizeof 1,000 shares.
Settlement Cash settlement, payable on the first exchangeday following the final settlement day.
Price quotation and minimum price changeThe price quotation is in GBp with two decimalplaces and in EUR/CHF/USD with three decimalplaces respectively. The minimum price change is GBp 0.01 and EUR/CHF/USD 0.001, equivalentto a value of GBp 10 and EUR/CHF/USD 1 percontract respectively.
Contract yearsThe five nearest successive annual contracts ofthe December cycle (from the first exchange dayafter the last trading day of the calendar year up to the final settlement day of the followingcalendar year) are available for trading at any time.
Single StockDividend Futures
87Dividend
Derivatives
86
Last trading day and final settlement dayLast trading day is the final settlement day. Final settlement day is the third Friday of eachDecember maturity month if this is an exchangeday; otherwise the exchange day immediatelypreceding that day. Close of trading in the maturing futures on the last trading day is at12:00 CET.
Daily settlement priceThe daily settlement price for the current maturitymonth is derived from the volume-weighted average of the prices of all transactions duringthe minute before 17:30 CET (reference point),provided that more than five trades have beentransacted within this period.
For the remaining maturity months, the dailysettlement price for a contract is determinedbased on the average bid/ask spread of the combination order book.
Further details are available in the clearing con-di tions on www.eurexchange.com > Resources >Rules & Regulations.
Final settlement priceThe final settlement price is established by Eurex on the final settlement day at 12:00 CET,corresponding to the dividend for the respective company’s business year. The final settlementprice is determined to four decimal places.
Corporate actionsCorporate actions are treated in the same mannerlike Eurex Single Stock Futures in the adjustmentof contract sizes and issuing of new contractseries where necessary.
Trading hours08:30–17:30 CET
Eurex Trade Entry ServicesThe following Eurex Trade Entry Services areavailable for Single Stock Dividend Futures:
• Block Trades
Further information about Eurex Trade Entry Services is available in the appendix section or onwww.eurexchange.com > Products > Eurex TradeEntry Services.
Service hours08:30–19:00 CET
89Dividend
Derivatives
88
Contract standards
Settlement Cash settlement, payable on the first exchangeday following the final settlement day.
Equity IndexDividend Futures
Contract
EURO STOXX 50® IndexDividend Futures
EURO STOXX® SelectDividend 30 IndexDividend Futures
EURO STOXX® SectorIndex Dividend Futures
STOXX® Europe 600Sector Index DividendFutures
DAX® Price Index Dividend Futures
DivDAX® Dividend Futures
SMI® Dividend Futures
ProductID
FEXD
FD3D
FEBD, FEID,FEED, FETD,FEUD
FSBD, FSID,FSED, FSTD,FSUD
FDXD
FDVD
FSMD
Underlying
EURO STOXX 50® DVP
EURO STOXX® SelectDividend 30 DVP
EURO STOXX® SectorIndex DVP
STOXX® Europe 600Sector Index DVP
DAX® Dividend PointsIndex
DivDAX® Dividend Points Index
SMI® Dividend PointsIndex
Contract values, price quotation and minimum price change
Contract monthsStandard: The five nearest successive annual contracts of the December cycle (from the firstexchange day after the last trading day of the calendar year up to the final settlement day of the following calendar year) are available fortrading at any time.
FEXD: The ten nearest successive annual contractsof the December cycle (from the first exchangeday after the last trading day of the calendar yearup to the final settlement day of the followingcalendar year) are available for trading at any time.
Contract
EURO STOXX 50® IndexDividend Futures
EURO STOXX® SelectDividend 30 Index Dividend Futures
EURO STOXX® Sector Index Dividend Futures
STOXX® Europe 600 SectorIndex Dividend Futures
DAX® Price Index Dividend Futures
DivDAX® Dividend Futures
SMI® Dividend Futures
Contractvalue*
EUR 100
EUR 100
EUR 500
EUR 500
EUR 100
EUR 1,000
CHF 100
Minimum PriceChange
Points
0.1
0.1
0.01
0.01
0.1
0.01
0.1
Value
EUR 10
EUR 10
EUR 5
EUR 5
EUR 10
EUR 10
CHF 10
* Per index point of the underlying
91 90Dividend
Derivatives
Last trading day and final settlement dayLast trading day is the final settlement day. Final settlement day is the third Friday of eachDecember maturity month if this is an exchangeday; otherwise the exchange day immediately pre-ceding that day. Close of trading in the ma turingfutures on the last trading day is at 12:00 CET, for SMI® Dividend Futures at 09:00 CET.
Daily settlement priceThe daily settlement price is derived from thevolume-weighted average of the prices of alltransactions during the minute before 17:30 CET(reference point), provided that more than fivetrades have been transacted within this period.
Further details are available in the clearing con-di tions on www.eurexchange.com > Resources >Rules & Regulations.
Final settlement priceThe final settlement price is established by Eurexon the final settlement day at 12:00 CET basedon the final value of the underlying index for the relevant contract period. Determining is thecumulative total of the relevant gross dividendsof the individual constituents of the underlyingindex. STOXX Ltd., Deutsche Börse AG as well as SIX Swiss Exchange shall thereby define,according to their regulations, which dividendsare to be included in the calculation of the index.Furthermore, the index provider shall define the amount of the dividend to be considered, the point of consideration of the dividend pay-ment and the conversion of the dividends inindex points.
Trading hours
Eurex Trade Entry ServicesThe following Eurex Trade Entry Services areavailable for equity index dividend futures:
• Block Trades• Vola Trades (FEXD)
Further information about Eurex Trade Entry Services is available in the appendix section or onwww.eurexchange.com > Products > Eurex TradeEntry Services.
Service hours
EURO STOXX 50® Index Dividend Futures are available for trading in the U.S.
Contract
EURO STOXX 50® Index DividendFutures
EURO STOXX®/STOXX® Europe 600Sector Index Dividend Futures
EURO STOXX® Select Dividend 30 Index Dividend Futures
DAX® Price Index Dividend Futures
DivDAX® Dividend Futures
SMI® Dividend Futures
Trading hours
08:30–22:00 CET
08:30–17:30 CET
08:30–18:30 CET
08:30–17:27 CET
Contract
EURO STOXX 50® Index DividendFutures
EURO STOXX® Select Dividend 30 Index Dividend Futures
EURO STOXX®/STOXX® Europe 600Sector Index Dividend Futures
DAX® Price Index Dividend Futures
DivDAX® Dividend Futures
SMI® Dividend Futures
Time
08:30–22:00 CET
08:30–19:00 CET
93 92Dividend
Derivatives
Contract standard
Contract valueEUR 100 per index dividend point of the under -lying.
Settlement Cash settlement, payable on the first exchangeday following the final settlement day. Settlementis carried out with regard to the underlying index.The options expire directly into a cash position.
Price quotation and minimum price changeThe price quotation is in points, with two decimalplaces. The minimum price change is 0.01 points,equivalent to a value of EUR 1 per contract.
Contract monthsUp to 119 months: The ten nearest successiveannual contracts of the December cycle (from the first exchange day after the last trading day of the calendar year up to the final settlement day of the following calendar year) are availablefor trading at any time.
Options on
EURO STOXX 50® DVP
Product ID
OEXD
Currency
EUR
EURO STOXX 50®
Index DividendOptions
Last trading day and final settlement dayLast trading day is the final settlement day. Final settlement day is the third Friday of eachDecember expiration month if this is an exchangeday; otherwise the exchange day immediatelypreceding that day. Close of trading in the expiringoption series on the last trading day is at 12:00 CET.
Daily settlement priceThe daily settlement price is established by Eurex.The daily settlement prices for EURO STOXX 50®
Index Dividend Options are determined throughthe Black/Scholes 76 model.
Further details are available in the clearing con-di tions on www.eurexchange.com > Resources >Rules & Regulations.
Final settlement priceThe final settlement price is established by Eurexon the final settlement day at 12:00 CET basedon the final value of the underlying index for the relevant contract period. Determining is thecumulative total of the relevant gross dividendsof the individual constituents of the underlyingindex. STOXX Ltd., Deutsche Börse AG as well as SIX Swiss Exchange shall thereby define,according to their regulations, which dividendsare to be included in the calculation of the index.Furthermore, the index provider shall define the amount of the dividend to be considered, the point of consideration of the dividend pay-ment and the conversion of the dividends inindex points.
94
ExerciseEuropean-style; an option can only be exercisedon the final settlement day of the respective opti-on series until the end of the Post-Trading Full Period (20:30 CET).
Exercise pricesEURO STOXX 50® Index Dividend Options haveexecution prices with intervals in the amount ofnot less than one point. Option series with a termof up to 59 months may have exercise prices offive points or of ten points for option series with a term of more than 59 months.
Option premiumThe premium is payable in full in EUR on theexchange day following the day of the trade.
Trading hours08:30–17:30 CET
Eurex Trade Entry ServicesThe following Eurex Trade Entry Services are available for options on equity index dividendfutures:
• Block Trades• Vola Trades
Further information about Eurex Trade Entry Services is available in the appendix section or onwww.eurexchange.com > Products > Eurex TradeEntry Services.
Service hours08:30–19:00 CET
Volatility Derivatives
97Volatility
Derivatives
Contract valueEUR 100 per index point of the underlying.
SettlementCash settlement, payable on the first exchangeday following the final settlement day.
Price quotation and minimum price changeThe price quotation is in index points with twodecimal places. The minimum price change is 0.05 index points, equivalent to a value of EUR 5.
Contract monthsUp to 8 months: The eight nearest successivecalendar months.
Last trading day and final settlement dayLast trading day is the final settlement day. Final settlement day is 30 calendar days prior tothe expiration day of the underlying options (i.e.30 days prior to the third Friday of the expirationmonth of the underlying options, if this is an ex -change day). This is usually the Wednesday priorto the second last Friday of the respective maturitymonth, 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.
Volatility Futures
Contract
VSTOXX® Futures
Underlying
VSTOXX®
Product ID
FVS
Currency
EUR
96
Daily settlement priceThe daily settlement prices for the current maturitymonth are derived from the volume-weightedaverage of the prices of all transactions during the minute before 17:30 CET (reference point),provided that more than five trades are transactedwithin this period.
For the remaining maturity months, the daily settlement price for a contract is determined basedon the average bid/ask spread of the combinationorder book.
Further details are available in the clearing con-di tions on www.eurexchange.com > Resources >Rules & Regulations.
Final settlement priceThe final settlement price is established by Eurexon the final settlement day, based on the averageof the index values of the underlying on the lasttrading day between 11:30 and 12:00 CET.
Trading hours08:50–22:00 CET
Eurex Trade Entry ServicesThe following Eurex Trade Entry Services are available for volatility futures:
• Block Trades• Vola Trades• EFPI Trades
Further information about Eurex Trade Entry Services is available in the appendix section or onwww.eurexchange.com > Products > Eurex TradeEntry Services.
99Volatility
Derivatives
98
Service hours09:00–22:00 CET
VSTOXX® Futures are available for trading in the U.S.
Contract valueEUR 100 per index point of the underlying.
SettlementCash settlement, payable on the first exchangeday following the final settlement day.
Price quotation and minimum price changeThe price quotation is in index points with twodecimal places. The minimum price change is 0.05 index points, equivalent to a value of EUR 5.
Contract monthsUp to 8 months: The eight nearest successivecalendar months.
Last trading day and final settlement dayLast trading day is the final settlement day. Final settlement day is 30 calendar days beforethe expiration day of the underlying options (i.e.30 days before the third Friday of the expirationmonth of the underlying options, if this is anexchange day). This is usually the Wednesdaybefore the second last Friday of the respectiveexpiration month, if this is an exchange day;otherwise the exchange day immediately prece-ding that day. Close of trading in the maturingfutures on the last trading day is at 12:00 CET.
Volatility Options
Contract
VSTOXX® Options
Underlying
VSTOXX®
Product ID
OVS
Currency
EUR
101 100Volatility
Derivatives
Daily settlement priceThe daily settlement price is established by Eurex.The daily settlement prices for VSTOXX® Optionsare determined through the Black/Scholes 76model.
Further details are available in the clearing con-di tions on www.eurexchange.com > Resources >Rules & Regulations.
Final settlement priceThe final settlement price is established by Eurexon the final settlement day, based on the averageof the index values of the underlying on the lasttrading day between 11:30 and 12:00 CET.
ExerciseEuropean-style; an option can only be exercised onthe final settlement day of the respective optionseries until 20:30 CET.
Exercise pricesAll option series have exercise prices with pricegradations in the amount of not less than one point.
Number of exercise pricesUpon the admission of a contract, at least elevenexercise prices shall be made available for eachterm for each call and put, such that five exerciseprices are in-the-money, one is at-the-money andfive are out-of-the-money.
Option premiumThe premium is payable in full in EUR on theexchange day following the day of the trade.
Trading hours08:50–17:30 CET
Eurex Trade Entry ServicesThe following Eurex Trade Entry Services are available for volatility options:
• Block Trades• Vola Trades
Further information about Eurex Trade Entry Services is available in the appendix section or onwww.eurexchange.com > Products > Eurex TradeEntry Services.
Service hours09:00–18:30 CET
103 102Volatility
Derivatives
Contract valueEUR 1 per Variance Futures point.
Settlement Cash settlement, payable on the first exchangeday following the final settlement day.
Price calculation and minimum price changeThe futures price is calculated in Variance Futurespoints with four decimal places. The minimum pricechange is 0.0001 points, equivalent to a value ofEUR 0.0001.
Trading and order maintenance Variance Futures are traded on-exchange in termsof notional Vega at volatility. Transactions via the Block Trade Service are entered in VarianceFutures contracts at final Variance Futures prices.
The minimum order size is 1 notional Vega, the minimum price change is 0.05 percentagepoints in volatility.
Variance Futures
Contract
EURO STOXX 50®
Variance Futures
Underlying
The future average price fluctuation (variance) of the EUROSTOXX 50® Index.
ProductID
EVAR
Cur-rency
EUR
Upon matching notional Vega is converted intoVariance Futures contracts and rounded to thenearest integer, at least to one futures. The volatilityis converted into Variance Futures prices as well.
The formulas for the conversions from notionalVega to Variance Futures contracts and from vola-tility to Variance Futures prices can be found in thecontract specifications on www.eurexchange.com >Resources > Rules & Regulations.
Contract monthsUp to 24 months: The three nearest successivecalendar months, the three following quarterlymonths of the March, June, September andDecember cycle, and the two following semi-annual months of the June and December cycle thereafter.
Last trading day and final settlement dayLast trading day is the exchange day preceding the final settlement day. Final settlement day is the third Friday of each maturity month if this isan exchange day; otherwise the exchange dayimmediately preceding that day. Close of tradingin the maturing futures on the last trading day is at 17:30 CET. There is no trading on the finalsettlement day of each maturity month.
Daily settlement priceThe daily settlement price is determined throughthe conversion of volatility into the VarianceFutures price according to different formulas.
Further details are available in the clearing con-ditions on www.eurexchange.com > Resources >Rules & Regulations.
104
Final settlement priceThe final settlement price is established by Eurexon the final settlement day. The final realized variance is based on the average of the EUROSTOXX 50® Index calculations between 11:50 CETand 12:00 CET.
Trading hours09:00–17:30 CET
Eurex Trade Entry ServicesThe following Eurex Trade Entry Services are available for EURO STOXX 50® Variance Futures:
• Block Trades
Further information about Eurex Trade entryServices is available in the appendix section or on www.eurexchange.com > Products > Eurex TradeEntry Services.
Service hours09:00–21:00 CET
EURO STOXX 50® Variance Futures are availablefor trading in the U.S.
Exchange TradedProducts Derivatives
Contract standards
Contract size100 index fund shares of the underlying.
SettlementPhysical delivery of 100 index fund shares twoexchange days (for iShares SMI® (CH) Futuresthree exchange days) after the last trading day.
Minimum price changeEUR 0.01 or CHF 0.01.
Contract monthsUp to 9 months: The three nearest quarterlymonths of the March, June, September andDecember cycle.
Last trading dayThe third Friday of each maturity month, if this isan exchange day; otherwise the exchange dayimmediately preceding that day. Close of trading
ETF Futures
Contract
iShares EUROSTOXX 50® UCITSETF Futures
iShares DAX® UCITSETF (DE) Futures
iShares SMI®
(CH) Futures
Underlying
iShares EUROSTOXX 50®
UCITS ETF
iShares DAX®
UCITS ETF (DE)
Shares SMI®
(CH)
Product ID
EUNF
EXSF
XMTF
Currency
EUR
EUR
CHF
107Exchange
Traded Products
Derivatives
106
in the maturing futures on the last trading day is at 17:30 CET, for iShares SMI® (CH) Futures at17:20 CET.
Daily settlement priceThe daily settlement prices for ETF futures arederived from the closing price of the underlyingdetermined during the closing auction plus the respective cost of carry.
Further details are available in the clearing con-di tions on www.eurexchange.com > Resources >Rules & Regulations.
Tender PriceThe Tender Price is established by Eurex based onthe closing price determined within the electronictrading system of the domestic cash market for the respective underlying on the last trading day. If such a price cannot be determined, the volume-weighted average of the three last traded priceswithin the electronic trading system of the domesticcash market for the respective underlying will beconsulted.
Trading hours
Contract
iShares EURO STOXX 50® UCITS ETFFutures
iShares DAX® UCITS ETF (DE) Futures
iShares SMI® (CH) Futures
Trading hours
08:51–17:30 CET
08:51–17:30 CET
08:51–17:20 CET
109 108Exchange
Traded Products
Derivatives
Eurex Trade Entry ServicesThe following Eurex Trade Entry Services are available for ETF futures:
• Block Trades• Flexible Futures
Further information about Eurex Trade Entry Services is available in the appendix section or onwww.eurexchange.com > Products > Eurex TradeEntry Services.
Service hours09:05–20:00 CET
ETF Options
Contract standards
ProductID
DBX1
DBXW
DBXA
EUN2
EXS1
XMT
LYYE
L8I1
LYME
L8I2
LYM7
SC0A
SC0U
Cur-rency
EUR
EUR
EUR
EUR
EUR
CHF
EUR
EUR
EUR
EUR
EUR
EUR
EUR
Underlying
db x-trackers MSCIEmerging MarketsTRN ETF
db x-trackers MSCIWorld TRN ETF
db x-trackers MSCIEurope TRN ETF
iShares EURO STOXX50® UCITS ETF
iShares DAX® UCITSETF (DE)
iShares SMI® (CH)
Lyxor ETF DJ RussiaTitans
Lyxor ETF ChinaEnterprise (HSCEI)
Lyxor ETF Hong Kong(HSI)
Lyxor ETF EasternEurope (CECE EUR)
Lyxor ETF MSCIEmerging Markets
STOXX® Europe 600Optimised Auto-mobiles Source ETF
STOXX® Europe 600Optimised BanksSource ETF
Contract
db x-trackers MSCIEmerging MarketsTRN Options
db x-trackers MSCIWorld TRN Options
db x-trackers MSCIEurope TRN Options
iShares EURO STOXX50® UCITS ETFOptions
iShares DAX® UCITSETF (DE) Options
iShares SMI® (CH)Options
Lyxor ETF DJ RussiaTitans Options
Lyxor ETF ChinaEnterprise (HSCEI)Options
Lyxor ETF Hong Kong(HSI) Options
Lyxor ETF EasternEurope (CECE EUR)Options
Lyxor ETF MSCIEmerging MarketsOptions
STOXX® Europe 600Optimised Automo-biles Source Options
STOXX® Europe 600Optimised BanksSource Options
111 110Exchange
Traded Products
Derivatives
110
ProductID
SC0W
SC0N
SC0S
SC0I
SC0V
SC0Q
SC0Z
SC0G
Cur-rency
EUR
EUR
EUR
EUR
EUR
EUR
EUR
EUR
Underlying
STOXX® Europe 600Optimised BasicResources Source ETF
STOXX® Europe 600Optimised Con-struction & MaterialsSource ETF
STOXX® Europe 600Optimised IndustrialGoods & ServicesSource ETF
STOXX® Europe 600Optimised InsuranceSource ETF
STOXX® Europe 600Optimised Oil & GasSource ETF
STOXX® Europe 600OptimisedTelecommunicationsSource ETF
STOXX® Europe 600Optimised UtilitiesSource ETF
STOXX® Europe Mid200 Source ETF
Contract
STOXX® Europe 600Optimised BasicResources SourceOptions
STOXX® Europe 600Optimised Con-struction & MaterialsSource Options
STOXX® Europe 600Optimised IndustrialGoods & ServicesSource Options
STOXX® Europe 600Optimised InsuranceSource Options
STOXX® Europe 600Optimised Oil & GasSource Options
STOXX® Europe 600OptimisedTelecommunicationsSource Options
STOXX® Europe 600Optimised UtilitiesSource Options
STOXX® Europe Mid200 Source Options
Contract size100 index fund shares of the underlying.
Settlement Physical delivery of 100 index fund shares threeexchange days (for options on iShares ETFs twoexchange days) after the last trading day.
Minimum price changeEUR 0.01 or CHF 0.01.
Contract monthsUp to 24 months: The three nearest successivecalendar months, the three following quarterlymonths of the March, June, September andDecember cycle thereafter, and the two followingsemi-annual months of the June and Decembercycle thereafter.
Last trading dayThe third Friday of each expiration month, if this is an exchange day; otherwise the exchange dayimmediately preceding that day. Close of trading in the expiring option series on the last tradingday is at 17:30 CET, for iShares SMI® (CH) Optionsat 17:20 CET.
Daily settlement priceThe daily settlement price is established by Eurex.The daily settlement prices for ETF options aredetermined through the binomial model accordingto Cox/Ross/Rubinstein. If necessary, dividendexpectations, current interest rates or other pay -ments are taken into consideration.
Further details are available in the clearing con-di tions on www.eurexchange.com > Resources >Rules & Regulations.
ExerciseAmerican-style; an option can be exercised up tothe end of the Post-Trading Full Period (20:00CET) on any exchange day during the lifetime ofthe option.
Options on db x-trackers ETFs can only be exer -cised on the final settlement day (European-style)until the end of the Post-Trading Full-Period(20:00 CET).
113 112Exchange
Traded Products
Derivatives
The reference price for options on db x-trackers,Lyxor and Source ETFs used for automatic exercise is the NAV (Net Asset Value) of the ETFat close of trading on the last trading day roundedto two decimal places. Since this price, however,for ETFs on db x-trackers is not published beforethe respective next exchange day, the final settlement day will be the exchange day imme-diately following the last trading day; this is typically the Monday following the third Friday of the expiration month.
Exercise prices (standard)
Exercise prices inEUR or CHF
Up to 2
2 – 4
4 – 8
8 – 20
20 – 52
52 – 100
100 – 200
200 – 400
> 400
Exercise price intervals in EUR orCHF for expiration months with a remaining lifetime of
< 3 months
0.05
0.10
0.20
0.50
1.00
2.00
5.00
10.00
20.00
4–12months
0.10
0.20
0.40
1.00
2.00
4.00
10.00
20.00
40.00
> 12months
0.20
0.40
0.80
2.00
4.00
8.00
20.00
40.00
80.00
Exercise prices (Options on iShares ETFs)
Number of exercise pricesUpon the admission of a contract, at least sevenexercise prices shall be made available for eachterm for each call and put, such that three exerciseprices are in-the-money, one is at-the-money andthree are out-of-the-money.
Option premiumThe premium is payable in full in the currency of the respective contract on the exchange dayfollowing the day of the trade.
Trading hours
Contract
Standard
iShares SMI® (CH) Options
Trading hours
08:51–17:30 CET
08:51–17:20 CET
Contract
iShares EURO STOXX 50®
UCITS ETF Options
iShares DAX® UCITS ETF (DE) Options
iShares SMI® (CH)Options
Exercise price intervals in EUR or CHF for expiration months with a remaining lifetime of
< 3 mon.
0.5
1
1
4–12 mon.
1
2.5
2.5
13–24mon.
2
5
5
25–36mon.
-
-
-
> 36mon.
-
-
-
115 114Exchange
Traded Products
Derivatives
Eurex Trade Entry ServicesThe following Eurex Trade Entry Services areavailable for ETF options:
• Multilateral Trade Registration• Block Trades• Flexible Options
Further information about Eurex Trade Entry Services is available in the appendix section or onwww.eurexchange.com > Products > Eurex TradeEntry Services.
Service hours09:00–19:00 CET
Contract standards
Contract size100 ETC bonds
Settlement Physical delivery of the respective ETC bonds fourexchange days after the last trading day.
Minimum price changeThe minimum price change is USD 0.01 per bond,equivalent to a value of USD 1.
Contract monthsUp to 36 Months: The three nearest successivecalendar months and the eleven following quarterly months of the March, June, Septemberand December cycle thereafter.
Last trading day and final settlement dayLast trading day is the final settlement day. Final settlement day is the third Friday of eachmaturity month if this is an exchange day; other-wise the exchange day immediately preceding
ETC Futures
Contrakt
ETFS Physical GoldFutures
ETFS Crude OilFutures
Underlying
ETFS Physical Gold ETC
ETFS Crude OilETC
ProductID
FPHA
FCRU
Currency
USD
USD
116 117Exchange
Traded Products
Derivatives
that day. Close of trading in the maturing ETCfutures on the last trading day is at 17:30 CET.
Daily settlement priceThe daily settlement price for the current maturitymonth is derived from the volume-weighted average of the prices of all transactions during the minute before 17:30 CET (reference point),provided that more than five trades have beentransacted within this period.
For the remaining maturity months, the dailysettlement price for a contract is determined basedon the average bid/ask spread of the combinationorder book.
Further details are available in the clearing con-di tions on www.eurexchange.com > Resources >Rules & Regulations.
Final settlement priceThe final settlement price is established by Eurexon the final settlement day, based on the closingauction at London Stock Exchange at 17:30 CET.
Trading hours09:00–17:30 CET
Eurex Trade Entry ServicesThe following Eurex Trade Entry Services are available for ETC Futures:
• Block Trades• Flexible Futures
Further information about Eurex Trade Entry Services is available in the appendix section or onwww.eurexchange.com > Products > Eurex TradeEntry Services.
Service hours09:00–19:00 CET
119 118Exchange
Traded Products
Derivatives
Contract standards
Contract size100 ETC bonds
Settlement Physical delivery of the respective ETC bonds fourexchange days after the last trading day.
Minimum price changeThe minimum price change is USD 0.01 per bond,equivalent to a value of USD 1.
Contract monthsUp to 60 Months: The three nearest successivecalendar months, the eleven following quarterlymonths of the March, June, September andDecember cycle thereafter, and the four followingsemi-annual months of the June and Decembercycle thereafter.
Last trading day and final settlement dayLast trading day is the final settlement day. Final settlement day is the third Friday of eachexpiration month if this is an exchange day;
ETC Options
Contract
ETFS Physical GoldOptions
ETFS Crude OilOptions
Underlying
ETFS Physical Gold ETC
ETFS Crude OilETC
ProductID
OPHA
OCRU
Currency
USD
USD
otherwise the exchange day immediately precedingthat day. Close of trading in the expiring optionseries on the last trading day is at 17:30 CET.
Daily settlement price The daily settlement price is established by Eurex.The daily settlement prices for ETC options aredetermined trough the binomial model accordingto Cox/Ross/Rubinstein.
Further details are available in the clearing con-di tions on www.eurexchange.com > Resources >Rules & Regulations.
Final settlement price The final settlement price is established by Eurexon the final settlement day, based on the closingauction at London Stock Exchange at 17:30 CET.
ExerciseEuropean-style; an option can only be exercisedon the final settlement day of the respectiveoption series until 20:00 CET.
Exercise prices
Contract
ETFS Physical GoldOptions
ETFS Crude Oil Options
Exercise price intervals in USD for expiration months with a remaining lifetime of
< 36 months
2.00
0.50
> 36 months
4.00
1.00
121 120Exchange
Traded Products
Derivatives
Number of exercise pricesUpon the admission of the options, at least15 exercise prices shall be made available for eachdue date with a term of up to 60 months for eachcall and put, such that seven exercise prices arein-the-money, one is at-the-money and seven areout-of-the-money.
Option premiumThe premium is payable in full in USD on theexchange day following the day of the trade.
Trading hours09:00–17:30 CET
Eurex Trade Entry ServicesThe following Eurex Trade Entry Services are available for ETC Options:
• Block Trades• Flexible Futures
Further information about Eurex Trade Entry Services is available in the appendix section or onwww.eurexchange.com > Products > Eurex TradeEntry Services.
Service hours09:00–19:00 CET
Contract standards
Contract size1,000 grams (1 kilogram) gold
Settlement Physical delivery of Xetra-Gold® bonds twoexchange days after the last trading day.
Price quotation and minimum price changeThe price quotation is in EUR with two decimalplaces. The minimum price change is EUR 0.01,equivalent to a value of EUR 10.
Contract monthsUp to 36 months: The three nearest successivecalendar months and the eleven following quarterlymonths of the March, June, September andDecember cycle thereafter.
Xetra-Gold®
Futures
Product ID
FXGL
Cur-rency
EUR
Underlying
Xetra-Gold® ETC (issued by Deutsche BörseCommodities GmbH, which entitles the bearer ofthe bond to claim delivery of 1 gram of Gold)
Contract
Xetra-Gold®
Futures
123 122Exchange
Traded Products
Derivatives
Last trading day and final settlement dayLast trading day is the final settlement day. Final settlement day is the third Friday of eachmaturity month if this is an exchange day; other-wise the exchange day immediately precedingthat day. Close of trading in the maturing futureson the last trading day is at 17:30 CET.
Daily settlement priceThe daily settlement price is established by Eurexfollowing the Xetra® closing auction.
Final settlement priceThe final settlement price is established by Eurexon the final settlement day, based on the Xetra®
closing auction at 17:30 CET.
Trading hours09:00–17:30 CET
Eurex Trade Entry ServicesThe following Eurex Trade Entry Services are available for Xetra-Gold® Futures:
• Block Trades• Flexible Futures
Further information about Eurex Trade Entry Services is available in the appendix section or onwww.eurexchange.com > Products > Eurex TradeEntry Services.
Service hours09:00–19:00 CET
Contract standards
Contract size1,000 grams (1 kilogram) gold
Settlement Physical delivery of Xetra-Gold® bonds twoexchange days after the last trading day.
Price quotation and minimum price changeThe price quotation is in EUR with two decimalplaces. The minimum price change is EUR 0.01,equivalent to a value of EUR 10.
Contract monthsUp to 60 months: The three nearest successivecalendar months, the eleven following quarterlymonths of the March, June, September andDecember cycle thereafter, and the four followingsemi-annual months of the June and Decembercycle thereafter.
Xetra-Gold®
Options
Product ID
OXGL
Cur-rency
EUR
Underlying
Xetra-Gold® ETC (issued by Deutsche BörseCommodities GmbH, which entitles the bearer ofthe bond to claim delivery of 1 gram of Gold)
Contract
Xetra-Gold®
Options
125 124Exchange
Traded Products
Derivatives
Last trading day and final settlement dayLast trading day is the final settlement day. Final settlement day is the third Friday of eachexpiration month if this is an exchange day;otherwise the exchange day immediately pre-ceding that day. Close of trading in the expiringoption series on the last trading day is at 17:30 CET.
Daily settlement price The daily settlement price is established by Eurexfollowing the Xetra® closing auction.
Final settlement price The final settlement price is established by Eurexon the final settlement day, based on the Xetra®
closing auction at 17:30 CET.
ExerciseEuropean-style; an option can only be exercisedon the final settlement day of the respectiveoption series until 20:00 CET.
Exercise prices
Number of exercise prices Upon the admission of the options, at least 15 exer-cise prices shall be made available for each duedate with a term of up to 60 months for each calland put, such that seven exercise prices are in-the-money, one is at-the-money and seven areout-of-the-money.
Contract
Xetra-Gold® Options
Exercise price intervals in EUR for expiration months with a remaining lifetime of
< 36 months
0.2
> 36 months
0.4
Option premium The premium is payable in full in EUR on theexchange day following the day of the trade.
Trading hours09:00–17:30 CET
Eurex Trade Entry ServicesThe following Eurex Trade Entry Services are available for Xetra-Gold® Options:
• Multilateral Trade Registration• Block Trades• Flexible Options
Further information about Eurex Trade Entry Services is available in the appendix section or onwww.eurexchange.com > Products > Eurex TradeEntry Services.
Service hours09:00–19:00 CET
Commodity Derivatives
Com
modity
Derivatives
127
Contract standards
BloombergCommodity IndexSM Futures
ProductID
FCCO
FCAG
FCXA
FCXB
FCEN
FCXE
FCGR
FCXR
FCIN
FCXI
FCLI
FCXL
FCPE
Cur -rency
USD
USD
USD
USD
USD
USD
USD
USD
USD
USD
USD
USD
USD
Underlying
BloombergCommodity IndexSM
BloombergAgricultureSubindexSM
Bloomberg ex-AgricultureSubindexSM
Bloomberg ex-Agriculture &Livestock SubindexSM
Bloomberg Energy SubindexSM
Bloomberg ex-Energy SubindexSM
Bloomberg Grains SubindexSM
Bloomberg ex-Grains SubindexSM
BloombergIndustrial MetalsSubindexSM
Bloombergex-Industrial MetalsSubindexSM
Bloomberg Livestock SubindexSM
Bloomberg ex-LivestockSubindexSM
Bloomberg Petroleum SubindexSM
Contract
BloombergCommodity Futures
BloombergAgriculture Futures
Bloombergex-Agriculture Futures
Bloombergex-Agriculture&Livestock Futures
Bloomberg Energy Futures
Bloombergex-Energy Futures
Bloomberg Grains Futures
Bloomberg ex-Grains Futures
Bloomberg Industrial MetalsFutures
Bloomberg ex-Industrial MetalsFutures
Bloomberg Livestock Futures
Bloomberg ex-Livestock Futures
Bloomberg Petroleum Futures
129 128Com
modity
Derivatives
The Bloomberg Commodity IndexSM measuresthe performance of 22 different commodities in total. The calculation of the index is based on the prices of commodity futures at differentexchanges. Furthermore there are subindexes andindexes where certain commodities are excluded(ex-indexes). The futures contracts refer to the excess return versions of the respectiveBloomberg commodity indexes.
Contract valueUSD 250 per index point of the underlying.
SettlementCash settlement, payable on the first exchangeday following the final settlement day.
Price quotation and minimum price changeThe price quotation is in points with two decimalplaces. The minimum price change is 0.01 points,equivalent to a value of USD 2.50.
ProductID
FCXT
FCPR
FCXP
FCSO
FCXS
Cur -rency
USD
USD
USD
USD
USD
Underlying
Bloomberg ex-PetroleumSubindexSM
Bloomberg Precious MetalsSubindexSM
Bloomberg ex-Precious MetalsSubindexSM
Bloomberg SoftsSubindexSM
Bloomberg ex-Softs SubindexSM
Contract
Bloomberg ex-Petroleum Futures
Bloomberg Precious MetalsFutures
Bloomberg ex-Precious MetalsFutures
Bloomberg Softs Futures
Bloomberg ex-Softs Futures
Contract monthsUp to 60 months: The three nearest successivecalendar months, the three following quarterlymonths of the March, June, September andDecember cycle thereafter, the four followingsemi-annual months of the June and Decembercycle thereafter and the two following annualmonths of the December cycle thereafter.
Last trading day and final settlement dayLast trading day is the third Friday of each maturitymonth if this is an exchange day; otherwise the exchange day immediately preceding that day. Final settlement day is five exchange daysfollowing the last trading day, if this day is stillwithin the same calendar month; otherwise the last exchange day in the calendar month, in which the contract expires. Close of trading in the maturing futures on the last trading day is at 18:00 CET.
Daily settlement priceThe daily settlement price is determined based onthe average bid/ask spread of the combinationorder book before the reference point (17:30 CET)in time.
Final settlement priceThe final settlement price is established by Eurexon the last trading day. The final settlement priceis based on the closing price of the respective indexon that day, provided no futures represented in the index is suspended at that time. The final settlement price is fixed with three decimal places.
Trading hours09:00–18:00 CET
131 130Com
modity
Derivatives
Eurex Trade Entry ServicesThe following Eurex Trade Entry Services are available for Bloomberg Commodity IndexSM Futures:
• Block Trades• Flexible Futures
Further information about Eurex Trade Entry Services is available in the appendix section or onwww.eurexchange.com > Products > Eurex TradeEntry Services.
Service hours09:00–21:30 CET
BloombergCommodity IndexSM OptionsContract standards
The Bloomberg Commodity IndexSM measuresthe performance of 22 different commodities in total. The calculation of the index is based on the prices of commodity futures at differentexchanges. Furthermore there are subindexes andindexes where certain commodities are excluded(ex-indexes). The options refer to the excessreturn version of the Bloomberg CommodityIndexSM.
Contract valueUSD 250 per index point of the underlying.
Settlement Cash settlement, payable on the first exchange dayfollowing the final settlement day.
Price quotation and minimum price changeThe price quotation is in points with two decimalplaces. The minimum price change is 0.01 points,equivalent to a value of USD 2.50.
Product ID
OCCO
Cur-rency
USD
Underlying
BloombergCommodity IndexSM
Contract
BloombergCommodity Options
133 132Com
modity
Derivatives
Contract monthsUp to 60 months: The three nearest successivecalendar months, the three following quarterlymonths of the March, June, September andDecember cycle thereafter, the four followingsemi-annual months of the June and Decembercycle thereafter and the two following annualmonths of the December cycle thereafter.
Last trading day and final settlement dayLast trading day is the third Friday of each expi-ration month if this is an exchange day; other-wise the exchange day immediately preceding that day. Final settlement day is five exchange days following the last trading day, if this day isstill within the same calendar month; otherwisethe last exchange day in the calendar month, in which the contract expires.
Daily settlement priceThe daily settlement price is established by Eurex.The daily settlement prices for commodity indexoptions are determined through the Black/Scholes76 model. The underlying reference price is the daily settlement price of the Eurex futurescontract based on the index.
Final settlement priceThe final settlement price is established by Eurexon the last trading day. The final settlement priceis based on the closing price of the respective indexon that day, provided no futures represented in the index is suspended at that time. The finalsettlement price is fixed with three decimal places.
ExerciseEuropean-style; an option can only be exercisedon the final settlement day of the respectiveoption series until 20:30 CET.
Exercise prices
Number of exercise pricesUpon the admission of the options, at least nineexercise prices shall be made available for eachdue date with a term of up to 60 months for eachcall and put, such that four exercise prices are in-the-money, one is at-the-money and four areout-of-the-money.
Option premium The premium is payable in full in USD on theexchange day following the day of the trade.
Trading hours09:00–18:00 CET
Eurex Trade Entry ServicesThe following Eurex Trade Entry Services are available for Bloomberg Commodity IndexSM Options:
• Block Trades• Vola Trades
Contract
Bloomberg Commodity Options
Exercise price intervals in USD for expiration months with a remaining lifetime of
< 12 months
5
> 12 months
10
134
Property DerivativesFurther information about Eurex Trade Entry Services is available in the appendix section or onwww.eurexchange.com > Products > Eurex TradeEntry Services.
Service hours09:00–20:30 CET
137
Contract standards
Property Futures
136
Contract valueThe contracts have a nominal size of GBP 50,000and a par value of 100.
Settlement Cash settlement, payable on the first exchangeday following the final settlement day.
Price quotation and minimum price changeThe price quotation is in percent with two decimal places. The minimum price change is0.05 points, equivalent to a value of GBP 25.
Contract yearsEach contract will be based upon the total return of the respective IPD property index foran indi-vidual calendar year. The five nearest successive annual contracts of the February cycleare available for trading at any time.
Last trading day and final settlement dayLast trading day is the final settlement day. Finalsettlement day is the seventh calendar day afterthe last exchange day in January of the year inwhich the term of the futures contract expires ifthis is an exchange day; otherwise the exchangeday immediately preceding that day. Close of trading in the maturing futures on the last tradingday is at 12:00 CET.
Daily settlement priceThe daily settlement prices for the current matu r ityyear are derived from the volume-weighted aver-age of the prices of all transactions during the minute before 17:30 CET (reference point),provided that more than five trades have beentransacted within this period.
Property
Derivatives
ProductID
PUKQ
PARQ
PAOQ
PAIQ
PSOP
PREW
PCOF
PWOF
PSEI
Cur -rency
GBP
GBP
GBP
GBP
GBP
GBP
GBP
GBP
GBP
Underlying
IPD® UK QuarterlyAll Property Index
IPD® UK QuarterlyAll Retail Index
IPD® UK QuarterlyAll Office Index
IPD® UK QuarterlyAll Industrial Index
IPD® UK QuarterlyShopping CentreIndex Calendar YearReturns
IPD® UK QuarterlyRetail WarehouseIndex Calendar YearReturns
IPD® UK QuarterlyCity Office Index Calendar Year Returns
IPD® UK QuarterlyWestend & MidtownOffice Index CalendarYear Returns
IPD® UK QuarterlySouth EasternIndustrial IndexCalendar Year Returns
Contract
IPD® UK Quarterly All Property IndexFutures
IPD® UK Quarterly All Retail IndexFutures
IPD® UK Quarterly All Office IndexFutures
IPD® UK Quarterly All Industrial IndexFutures
IPD® UK QuarterlyShopping CentreIndex FuturesCalendar Year Returns
IPD® UK QuarterlyRetail WarehouseIndex FuturesCalendar Year Returns
IPD® UK QuarterlyCity Office IndexFutures Calendar Year Returns
IPD® UK QuarterlyWestend & MidtownOffice Index FuturesCalendar Year Returns
IPD® UK QuarterlySouth EasternIndustrial IndexFutures Calendar Year Returns
Interest RateDerivatives
138
Final settlement priceThe final settlement price is established by Eurexon the final settlement day.
The final settlement price shall reflect the nominalpar value of 100 plus the compound QuarterlyTotal Returns or minus a loss for the respectiveindex during the calculation period of one calendaryear which is subject to being calculated. It isdetermined in percent; the decimal places arerounded to the next possible interval of 0.005, or 0.01, or multiples thereof.
Trading hours08:30–17:30 CET
Eurex Trade Entry ServicesThe following Eurex Trade Entry Services areavailable for property futures:
• Block Trades
Further information about Eurex Trade Entry Services is available in the appendix section or onwww.eurexchange.com > Products > Eurex TradeEntry Services.
Service hours08:30–18:30 CET
Selected Property Futures are available for trading in the U.S.
Contract standardsNotional short-, medium- or long-term debtinstruments issued by the Federal Republic ofGermany, the Republic of Italy, the Republic of France, the Kingdom of Spain or the SwissConfederation with remaining terms and a coupon of:
Contract valuesEUR 100,000 or CHF 100,000.
Fixed IncomeFutures
Product ID
FGBS
FGBM
FGBL
FGBX
FBTS
FBTM
FBTP
FOAM
FOAT
FBON
CONF
Coupon
Percent
6
6
6
4
6
6
6
6
6
6
6
Cur -rency
EUR
EUR
EUR
EUR
EUR
EUR
EUR
EUR
EUR
EUR
CHF
Remainingterm
Years
1.75 to 2.25
4.5 to 5.5
8.5 to 10.5
24.0 to 35.0
2.0 to 3.25
4.5 to 6.0
8.5 to 11.0
4.5 to 5.5
8.5 to 10.5
8.5 to 10.5
8.0 to 13.0
Contract
Euro-Schatz Futures
Euro-Bobl Futures
Euro-Bund Futures
Euro-Buxl® Futures
Short-Term Euro-BTP Futures
Mid-Term Euro-BTP Futures
Long-Term Euro-BTP Futures
Mid-Term Euro-OAT Futures
Euro-OAT Futures
Euro-BONOFutures
CONF Futures
141 140
Settlement A delivery obligation arising out of a short positionmay only be fulfilled by the delivery of certaindebt securities issued by the Federal Republic ofGermany, the Republic of Italy, the Republic ofFrance, the Kingdom of Spain or the Swiss Confed-eration with a remaining term on the Delivery Day within the remaining term of the underlying.Settlement of debt securities issued by the Republicof Italy, the Republic of France and the Kingdomof Spain in case of physical delivery will be donevia Clearstream Banking Luxemburg.
Debt securities issued by the Federal Republic ofGermany must have an original term of no longerthan 11 years (not for FGBX).
Debt securities issued by the Republic of Italy musthave an original term of no longer than 16 years(not for FBTS).
Debt securities issued by the Republic of Francemust have an original term of no longer than 17 years.
Debt securities issued by the Kingdom of Spainmust have an original term of no longer than 20 years.
In the case of callable bonds issued by the SwissConfederation, the first and the last call datesmust be between eight and 13 years.
Debt securities must have a minimum issue amountof EUR 5 billion, such issued by the Republic ofItaly and the Kingdom of Spain no later than tenexchange days prior to the last trading day of the current maturity month, otherwise, they shallnot be deliverable until the delivery day of thecurrent maturity month.
Interest Rate
Derivatives
Debt securities issued by the Swiss Confederationmust have a minimum issue amount of CHF 500million.
Price quotation and minimum price changeThe price quotation is in percent of the par value.
Contract monthsUp to 9 months: The three nearest quarterlymonths of the March, June, September andDecember cycle.
Delivery dayThe tenth calendar day of the respective quarterlymonth, if this day is an exchange day; otherwise,the exchange day immediately succeeding that day.
142 143
Contract
Euro-Schatz Futures
Euro-Bobl Futures
Euro-Bund Futures
Euro-Buxl® Futures
Short-Term Euro-BTP Futures
Mid-Term Euro-BTP Futures
Long-Term Euro-BTP Futures
Mid-Term Euro-OAT Futures
Euro-OAT Futures
Euro-BONO Futures
CONF Futures
Minimum price change
Percent
0.005
0.01
0.01
0.02
0.01
0.01
0.01
0.01
0.01
0.01
0.01
Value
EUR 5
EUR 10
EUR 10
EUR 20
EUR 10
EUR 10
EUR 10
EUR 10
EUR 10
EUR 10
CHF 10
NotificationClearing members with open short positions must notify Eurex on the last trading day of the maturing futures which debt instrument theywill deliver. Such notification must be given by the end of the Post-Trading Full Period.
Last trading dayTwo exchange days prior to the delivery day ofthe relevant maturity month. Close of trading inthe maturing futures on the last trading day is at 12:30 CET.
Daily settlement priceThe daily settlement prices for the current matur itymonth of CONF Futures are determined duringthe closing auction of the respective futures contract.
For all other fixed income futures, the daily settle-ment price for the current maturity month is derived from the volume-weighted average of the prices of all transactions during the minutebefore 17:15 CET (reference point), provided that more than five trades have been transactedwithin this period.
For the remaining maturity months the dailysettlement price for a contract is determinedbased on the average bid/ask spread of the combination order book.
Further details are available in the clearing con-di tions on www.eurexchange.com > Resources >Rules & Regulations.
Interest Rate
Derivatives
Final settlement priceThe final settlement price is established by Eurexon the final settlement day at 12:30 CET, basedon the volume-weighted average price of all tradesduring the final minute of trading provided thatmore than ten trades occurred during this minute;otherwise the volume-weighted average price ofthe last ten trades of the day, provided that theseare not older than 30 minutes. If such a price cannot be determined, or does not reasonablyreflect the prevailing market conditions, Eurex will establish the final settlement price.
Trading hours
Eurex Trade Entry ServicesThe following Eurex Trade Entry Services areavailable for fixed income futures:
• Block Trades• Vola Trades• EFP Trades• EFS Trades
Further information about Eurex Trade Entry Services is available in the appendix section or onwww.eurexchange.com > Products > Eurex TradeEntry Services.
Service hours
Fixed Income Futures are available for trading in the U.S.
145 144
Contract
Standard
Euro-BTP Futures / Euro-OAT Futures/Euro-BONO Futures
CONF Futures
Trading hours
08:00–22:00 CET
08:00–19:00 CET
08:30–17:00 CET
Contract
Standard
Euro-BTP Futures / Euro-OAT Futures/Euro-BONO Futures
CONF Futures
Trading hours
08:00–22:00 CET
08:00–19:00 CET
08:30–17:00 CET
Interest Rate
Derivatives
147 146
Contract standardsFutures on notional short-, medium- or long-term debt instruments issued by the FederalRepublic of Germany and the French Republicwith remaining terms and a coupon of:
Contract sizeOne fixed income futures contract.
Settlement The exercise of an option on fixed income futuresresults in the creation of a corresponding positionin the fixed income futures for the option buyer aswell as the seller to whom the exercise is assigned.The position is established after the Post-TradingFull Period of the exercise day, and is based onthe agreed exercise price.
Options onFixed IncomeFutures
Product ID
OGBS
OGBM
OGBL
OOAT
Underlying
Euro-Schatz Futures
Euro-Bobl Futures
Euro-Bund Futures
Euro-OATFutures
Coupon
Percent
6
6
6
6
Remainingterm of theunderlyingyears
1.75 to 2.25
4.5 to 5.5
8.5 to 10.5
8.5 to 10.5
Contract
Options on
Euro-Schatz Futures
Euro-Bobl Futures
Euro-Bund Futures
Euro-OATFutures
147Interest Rate
Derivatives
Price quotation and minimum price changeThe price quotation is in points.
Contract monthsUp to 6 months: The three nearest successivecalendar months, as well as the following quarterlymonth of the March, June, September andDecember cycle thereafter.Calendar months: The maturity month of the underlying futures contract is the quarterlymonth following the expiration month of the option.Quarterly months: The maturity month of the underlying futures contract and the expirationmonth of the option are identical.
Last trading dayLast trading day is the last Friday prior to the first calendar day of the option expirationmonth, followed by at least two exchangedays prior to the first calendar day of the optionexpiration month.
Unless at least two exchange days lie between the last Friday of a month and the first calendar dayof the expiration month, the last trading day isthe Friday preceding the last Friday. If this Fridayis not an exchange day, the exchange day imme-diately preceding that Friday is the last trading day.An exchange day within the meaning of this
Contract
Options on
Euro-Schatz Futures
Euro-Bobl Futures
Euro-Bund Futures
Euro-OAT Futures
Minimum price change
Points
0.005
0.005
0.01
0.01
Value
EUR 5
EUR 5
EUR 10
EUR 10
149 148
exception is a day, which is both an exchange dayat the Eurex Exchanges and a federal workday in the U.S.
Close of trading in all option series on the last trading day is at 17:15 CET.
Daily settlement priceThe daily settlement price is established by Eurex.The daily settlement prices for options on fixedincome futures are determined through the bino-mial model according to Cox/Ross/Rubinstein.
Further details are available in the clearing con-di tions on www.eurexchange.com > Resources >Rules & Regulations.
ExerciseAmerican-style; an option can be exercised until the end of the Post-Trading Full Period at 18:00 CET on any exchange day during the lifetime of the option.
Exercise prices
Number of exercise prices Upon the admission of the options, at least nineexercise prices shall be made available for eachterm for each call and put, such that four exerciseprices are in-the-money, one is at-the-money and four are out-of-the-money.
Contract
Options on
Euro-Schatz Futures
Euro-Bobl Futures
Euro-Bund Futures
Euro-OAT Futures
Exercise intervals
Points
0.1
0.25
0.50
0.50
Interest Rate
Derivatives
Option premium The premium is settled using the futures-stylemethod.
Trading hours08:00–17:15 CET
Eurex Trade Entry ServicesThe following Eurex Trade Entry Services areavailable for options on fixed income futures:
• Multilateral Trade Registration• Block Trades• Flexible Options• Vola Trades
Further information about Eurex Trade Entry Services is available in the appendix section or onwww.eurexchange.com > Products > Eurex TradeEntry Services.
Service hours08:00–18:00 CET
Options on Fixed Income Futures are availablefor trading in the U.S.
151 150Interest Rate
Derivatives
Contract standardsInterest rate swaps denominated in euro withterms of 2, 5, 10 and 30 years and various fixedrate arrangements.
Fixed rate arrangement
Contract valueEUR 100,000
Settlement After close of trading, buyer and seller of an Euro-Swap Futures contract are obliged to conclude an interest rate swap with EurexClearing AG defined according to the under-lying on delivery day.
Thereby, as fixed rate payer, the seller of an Euro-Swap Futures contract is obliged to deliver. As fixed rate receiver, the buyer of an Euro-Swap Futures contract is obliged toaccept the delivery.
Futures onInterest RateSwaps
Product ID
FSWS
FSWM
FSWL
FSWX
Currency
EUR
EUR
EUR
EUR
Contract
2-year Euro-Swap Futures
5-year Euro-Swap Futures
10-year Euro-Swap Futures
30-year Euro-Swap Futures
FSWS
–0.25%
–0.25%
0.00%
FSWM
0.00%
0.00%
0.25%
FSWL
0.50%
0.50%
1.00%
FSWX
1.00%
1.00%
1.50%
Contract month
Mar 2017
Jun 2017
Sep 2017
This section only lists the differences with respectto the regular contract specifications for Optionson Euro-Bund Futures.
Contract monthsUp to 5 weeks: The five next weeks for the first,second, third, fourth and fifth week of the follow-ing maturity month with a Weekly Options expiration. On expiration days with an expirationof the standard monthly options series (OGBL), no Weekly Option will be available.
Weekly Options with an expiration date betweenChristmas and New Year’s Eve are not availablefor trading.
Last trading day Last trading day is the Friday of the expirationweek, if this is an exchange day; otherwise the exchange day immediately preceding that day.If the immediately preceding exchange day is not in the same calendar month as the Friday ofthe expiration week, the last trading day will bethe exchange day immediately following the Fridayof the expiration week.
Weekly Optionson Euro-BundFutures
Contract
1st Friday Weekly Options on Euro-Bund Futures
2nd Friday Weekly Options on Euro-Bund Futures
3rd Friday Weekly Options on Euro-Bund Futures
4th Friday Weekly Options on Euro-Bund Futures
5th Friday Weekly Options on Euro-Bund Futures
Product ID
OGB1
OGB2
OGB3
OGB4
OGB5
153 152Interest Rate
Derivatives
Price quotation and minimum price changeThe price quotation is determined in percent ofthe nominal value:[100%+(market value of the deliverable interestrate swap / nominal value)] � 100
Contract monthsUp to 9 months: The three nearest quarterlymonths of the March, June, September andDecember cycle.
Delivery day Delivery day is the exchange day immediatelypreceding the third Wednesday of the respectivedelivery month, if this is an exchange day; other-wise, the exchange day immediately succeedingthat day.
Last trading day Last trading day is the exchange day immediatelypreceding the delivery day. Close of trading in the maturing futures on the last trading day is at12:15 CET.
Daily settlement priceThe daily settlement price for the current maturitymonth is derived from the volume-weighted average of the prices of all transactions during the minute before 17:15 CET (reference point),provided that more than five trades have beentransacted within this period.
Minimum price change
Percent
0.005
0.01
0.01
0.02
Contract
2-year Euro-Swap Futures
5-year Euro-Swap Futures
10-year Euro-Swap Futures
30-year Euro-Swap Futures
Value
EUR 5
EUR 10
EUR 10
EUR 20
Further details are available in the clearing con-ditions on www.eurexchange.com > Resources >Rules & Regulations.
Final settlement priceThe final settlement price is established by Eurexon the final settlement day at 12:15 CET, basedon the volume-weighted average price of all tradesduring the final minute of trading provided thatmore than ten trades occurred during this minute;otherwise the volume-weighted based averageprice of the last ten trades of the day, providedthat the trades are not older than 30 minutes. If such a price cannot be determined, or does notreasonably reflect the prevailing market conditions,Eurex will establish the final settlement price.
Trading hours08:30–19:00 CET
Eurex Trade Entry ServicesThe following Eurex Trade Entry Services are available for Futures on Interest Rate Swaps:
• Block Trades• EFP Trades• EFS Trades
Further information about Eurex Trade entryServices is available in the appendix section or on www.eurexchange.com > Products > Eurex TradeEntry Services.
Service hours08:30–19:00 CET
155 154Interest Rate
Derivatives
A LDX IRS Constant Maturity Futures (GDI IRSCMF) is a futures contract on a specific interestrate index, the “Global Derivatives Indices LimitedInterest Rate Swap Constant Maturity Index”(GDI IRS CMI), denominated in euro.
Each GDI IRS CMI replicates a different point onthe interest rate swap curve varying from two to 30 years. As this is a constant maturity index,each index will track a fixed point on the interestrate swap curve. Consequently, each futures contract always has the same fixed underlyingtenor, ranging from two to 30 years inclusive sothat 29 contracts are tradable on Eurex Exchange.
UnderlyingThe GDI IRS CMI is published by GDI in real-time throughout the exchange day. It is used asthe underlying index for LDX IRS CMF.
GDI IRS CMI is an index of the Interest Rate Swap curve in the respective currency. “ConstantMaturity” refers to the fact that the index has a constant time to expiration, therefore tomorrow’sten year EUR IRS CMI will be based on tomor-row’s ten year EUR IRS price. Given that the EURIRS price varies from day to day due to EURIBORresets and market sentiment, the GDI IRS CMItracks the change.
It is published for all annual tenors from two yearsto 30 years.
LDX IRSConstantMaturity Futures
Price quotation of LDX IRS CMFAn amount representing the sum of the notionalvalue and the present value of all future cash flowsof the fixed leg in an equivalent notional valueinterest rate swap with a maturity matching thetenor of the respective future contract. The presentvalue amount of the fixed leg is derived from the interest rate traded with each resulting pay-ments being discounted using the discount factors calculated and published by GDI for the respective tenor to the payment.
The price quotation is in EUR with two decimalplaces. The minimum price change is EUR 0.01.
Tenors of LDX IRS CMF2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16,17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29and 30 years
Notional valueFor LDX IRS CMF with underlying GDI IRS CMItenors of two and three years: EUR 200,000
For LDX IRS CMF with underlying GDI IRS CMItenors from four to eight years: EUR 100,000
For LDX IRS CMF with underlying GDI IRS CMItenors from nine to 30 years: EUR 50,000
Final settlement, last trading day and delivery dayLDX IRS CMF can be traded on each exchangeday. The contracts have no expiration and henceno final settlement date or price and no last tradingor delivery day.
157 156
Daily settlement priceThe daily settlement price is determined by Eurexon each trading day.
Further details are available in the clearing con-ditions on www.eurexchange.com > Resources >Rules & Regulations.
Trading hours07:30–18:15 CET
Eurex Trade Entry ServicesThe following Eurex Trade Entry Services are available for LDX IRS Constant Maturity Futures:
• Block Trades
Further information about Eurex Trade EntryServices is available in the appendix section or on www.eurexchange.com > Products > Eurex TradeEntry Services.
Service hours07:30–18:15 CET
LDX IRS Constant Maturity Futures are availablefor trading in the U.S.
Contract standardsAverage rate of the effective overnight referencerate for the euro (EONIA – Euro Over Night Index Average) over a period of time determinedby the Eurex Exchanges taking into account the compounded interest effect.
Contract valueEUR 1 million.
SettlementCash settlement, payable on the first exchangeday following the final settlement day.
Price quotation and minimum price changeThe price quotation is in percent, with three decimal places, expressed as 100 minus the tradedrate of interest. The minimum price change is0.005 points; the tick value is EUR 5.83.
Contract monthsThe current and the four following periods of time determined by the Eurex Exchanges are available for trading at a maximum.
Further details are available in the contract specifications on www.eurexchange.com >Resources > Rules & Regulations.
EONIA Futures(FEO1)
Interest Rate
Derivatives
159 158Interest Rate
Derivatives
Last trading day and final settlement dayLast trading day is the final settlement day. Final settlement day is the last exchange day ofthe relevant period of time determined by the Eurex Exchanges, provided that on that daythe daily effective overnight reference rate for the euro is calculated by the European MoneyMarkets Institute (EMMI); otherwise, the exchangeday immediately preceding that day. Close of trading in the maturing futures on the last tradingday is at 18:00 CET.
Daily settlement priceThe daily settlement price for the current maturitymonth of EONIA Futures is derived from the volume-weighted average of the prices of all trans-actions during the minute before 17:15 CET (reference point), provided that more than fivetrades have been transacted within this period.
For the remaining maturity months, the dailysettlement price for a contract is determinedbased on the average bid/ask spread of the combination order book.
Further details are available in the clearing con-di tions on www.eurexchange.com > Resources >Rules & Regulations.
Final settlement priceThe final settlement price is established by Eurexon the final settlement day after 19:00 CET; basedon the compounded average of the effective over-night reference rate for the euro as calculated by the European Central Bank over the accrualperiod of the futures contract.
Trading hours08:00–18:00 CET
Matching of trades (pro rata matching)Orders and quotes are matched according to theprinciple of pro rata matching, which is exclusivelybased on the principle of price priority.
Eurex Trade Entry ServicesThe following Eurex Trade Entry Services areavailable for EONIA Futures:
• Block Trades• EFP Trades• EFS Trades
Further information about Eurex Trade Entry Services is available in the appendix section or onwww.eurexchange.com > Products > Eurex TradeEntry Services.
Service hours08:00–18:00 CET
EONIA Futures are available for trading in the U.S.
161 160Interest Rate
Derivatives
Contract standardsEuropean Interbank Offered Rate (EURIBOR) forthreemonth euro term deposits.
Contract valueEUR 1 million.
SettlementCash settlement, payable on the first exchangeday following the final settlement day.
Price quotation and minimum price changeThe price quotation is in percent, with four decimalplaces, expressed as 100 minus the traded rate of interest. The minimum price change is 0.0025points, equivalent to a value of EUR 6.25.
The minimum price change for the differentinstrument types of the contract is:
Three-MonthEURIBOR Futures(FEU3)
Minimum price change
0.005
0.005
0.0025
0.0025
Instrument type
Outright contracts
Standardized futures strategies (Futures-Calendar Spreads, Butterflies, Condors)
Standardized futures strip strategies(Packs & Bundles)
Non-standardized futures strip strategies(Strips)
Contract monthsUp to 72 months: The 6 nearest successive calendar months and the 22 following quarterlymonths of the March, June, September andDecember cycle.
Last trading day and final settlement dayLast trading day is the final settlement day. Finalsettlement day is two exchange days prior to the third Wednesday of the respective maturitymonth, provided that on that day the EuropeanMoney Markets Institute (EMMI) has determinedthe EURIBOR reference interest rate pertaining to three-month euro term deposits; otherwise,the exchange day immediately preced ing that day.Close of trading in the maturing futures on the last trading day is at 11:00 CET.
Daily settlement priceThe daily settlement price for the current maturitymonth of Three-Month EURIBOR Futures is derived from the volume-weighted average of the prices of all transactions during the minutebefore 17:15 CET (reference point), provided that more than five trades have been transactedwithin this period.
For the remaining maturity months, the dailysettlement price for a contract is determinedbased on the average bid/ask spread of the combination order book.
Further details are available in the clearing con-di tions on www.eurexchange.com > Resources >Rules & Regulations.
163 162Interest Rate
Derivatives
Final settlement priceThe final settlement price is established by Eurexon the final settlement day at 11:00 CET; basedon the reference interest rate (EURIBOR) forthree-month euro term deposits as determined by the European Money Markets Institute. To fix the final settlement price, the EURIBORrate is rounded to three decimal places and then subtracted from 100.
Trading hours08:00–19:00 CET
Matching of trades (pro rata matching)Orders and quotes are matched according to the principle of pro rata matching, which is ex-clusively based on the principle of price priority.
Eurex Trade Entry ServicesThe following Eurex Trade Entry Services areavailable for Three-Month EURIBOR Futures:
• Block Trades• Vola Trades• EFP Trades• EFS Trades
Further information about Eurex Trade Entry Services is available in the appendix section or onwww.eurexchange.com > Products > Eurex TradeEntry Services.
Service hours08:00–19:00 CET
Three-Month EURIBOR Futures are available fortrading in the U.S.
Contract standardsSTOXX® GC Pooling EUR Deferred Funding Rate
Contract valueEUR 1 million.
Settlement Cash settlement, payable on the first exchangeday following the final settlement day.
Price quotation and minimum price changeThe price quotation is in percent, with three deci-mal places, expressed as 100 minus the tradedrate of interest. The minimum price change is0.005 points.
Contract monthsThe current and the four following periods of time determined by the Eurex Exchanges are available for trading at a maximum.
Further details are available in the contract specifications on www.eurexchange.com >Resources > Rules & Regulations.
Last trading day and final settlement dayLast trading day is the final settlement day. Final settlement day is the last exchange day ofthe respective maturity period, provided that on that day STOXX® has determined the STOXX®
GC Pooling EUR Deferred Funding Rate; other-wise, the exchange day immediately preceding
EUR SecuredFunding Futures (FLIC)
165 164Interest Rate
Derivatives
that day. Close of trading in the maturing futureson the last trading day is at 18:00 CET.
Daily settlement priceThe daily settlement price for the current maturitymonth of EUR Secured Funding Futures is derivedfrom the volume-weighted average of the pricesof all transactions during the minute before 18:00 CET (reference point), provided that morethan five trades have been transacted within this period.
For the remaining maturity periods, the daily settlement price for a contract is determined basedon the average bid/ask spread of the combinationorder book.
Further details are available in the clearing con-ditions on www.eurexchange.com > Resources >Rules & Regulations.
Final settlement priceThe final settlement price is established by Eurexon the final settlement day at 19:00 CET; basedon the compounded average of the effective interest rates on GC Pooling repo transactions asdetermined by STOXX® on a daily basis for the duration of a period of time determined bythe Eurex Exchanges.
Trading hours08:00–18:00 CET
Eurex Trade Entry ServicesThe following Eurex Trade Entry Services are available for EUR Secured Funding Futures:
• Block Trades• EFS Trades• EFP Trades
Further information about Eurex Trade EntryServices is available in the appendix section or on www.eurexchange.com > Products > Eurex TradeEntry Services.
Service hours08:00–18:00 CET
EUR Secured Funding Futures are available fortrading in the U.S.
167 166
Contract standardsThree-Month EURIBOR Futures.
Contract sizeOne Three-Month EURIBOR Futures contract.
SettlementThe exercise of an option on the Three-MonthEURIBOR Futures contract results in the creationof a corresponding position in the Three-MonthEURIBOR Futures for the option buyer as well as the seller to whom the exercise is assigned. The position is established after the Post-TradingFull Period of the exercise day, and is based onthe agreed exercise price.
Price quotation and minimum price changeThe price quotation is in points, with three deci-mal places. The minimum price change is 0.005points, equivalent to a value of EUR 12.50.
Contract monthsUp to 24 months: The six nearest calendar monthsas well as the six following quarterly months ofthe March, June, September and December cyclethereafter. The maturity month of the underlyingfutures contract and the ex piration month of the option are identical in the expiration monthsMarch, June, September and December, in the other expiration months, the maturity month
Options on Three-MonthEURIBOR Futures(OEU3)
Interest Rate
Derivatives
of the underlying futures contract is the cyclicquarterly month following the expiration monthof the option.
Last trading dayOption series expiring with the underlying EURIBOR futures contract (FEU3) in an identicalquarterly month of the cycle March, June,September and December:
Two exchange days prior to the third Wednesdayof the respective expiration month, provided that on that day the European Money MarketsInstitute (EMMI) has determined the EURIBORreference interest rate pertaining to three-montheuro term deposits; otherwise, the exchange dayimmediately preceding that day. Close of tradingin these expiring option series on the last tradingday is at 11:00 CET.
Option series not expiring in quarterly month ofthe cycle March, June, September and December:
The Friday prior to the third Wednesday of the respective expiration month, provided that onthat day the European Money Markets Institute(EMMI) has determined the EURIBOR referenceinterest rate pertaining to three-month euro termdeposits; otherwise, the exchange day immediatelypreceding that day. Close of trading in these expiring option series on the last trading day is at 17:15 CET.
Daily settlement priceThe daily settlement price is established by Eurex.The daily settlement prices for options on Three-Month EURIBOR Futures are determined throughthe binomial model according to Cox/Ross/Rubinstein.
169 168
Further details are available in the clearing con-di tions on www.eurexchange.com > Resources >Rules & Regulations.
ExerciseAmerican-style; an option can be exercised untilthe end of the Post-Trading Full Period (20:00 CET)on any exchange day during the lifetime of the option and on the last trading day until11:45 CET for quarterly expiries and 18:00 CETfor non-quarterly expiries.
Exercise pricesThe expiration months have exercise prices withintervals of 0.125 points.
Number of exercise pricesUpon the admission of the options, at least 25exercise prices shall be made available for eachterm for each call and put, such that twelve exercise prices are in-the-money, one is at-the-money and twelve are out-of-the-money.
Option premiumThe premium is settled using the futures-stylemethod.
Trading hours08:00–19:00 CET
Eurex Trade Entry ServicesThe following Eurex Trade Entry Services are available for Options on Three-Month EURIBORFutures:
• Block Trades• Vola Trades
Further information about Eurex Trade Entry Services is available in the appendix section or onwww.eurexchange.com > Products > Eurex TradeEntry Services.
Service hours08:00–19:00 CET
Options on Three-Month EURIBOR Futures areavailable for trading in the U.S.
Interest Rate
Derivatives
171 170
One- to Four-YearMid Curve Optionson Three-MonthEURIBOR Futures
Contract standards
Contract sizeOne Three-Month EURIBOR Futures contract.
Settlement The exercise of an One-Year (Two-, Three-, Four-)Mid Curve Option on a Three-Month EURIBORFutures contract results in the creation of a corre-sponding position in the Three-Month EURIBORFutures for the option buyer as well as the seller towhom the exercise is assigned, whereby a Three-Month EURIBOR Futures with a maturity of one(two, three, four) year(s) after expiration of theOne-Year (Two-, Three-, Four-) Mid Curve Optionon Three-Month EURIBOR Futures will be delivered.
Monthly expirations in all Mid Curve Options will be delivered with a Three-Month EURIBORFutures contract of the following quarterly maturityof the respective year after the expiration of the options contract.
Product ID
OEM1,OEM2,OEM3,OEM4
Underlying
Three-Month EURIBOR Futures
Contract
One- to Four-YearMid Curve Options on Three-MonthEURIBOR Futures
Cur-rency
EUR
Interest Rate
Derivatives
The position is established after the Post-TradingFull Period of the exercise day, and is based onthe agreed exercise price.
Price quotation and minimum price changeThe price quotation is in points, with three decimal places. The minimum price change is0.005 points, equivalent to a value of EUR 12.50.
Contract monthsUp to 12 months: The six nearest calendarmonths as well as the two following quarterlymonths of the March, June, September andDecember cycle.
Last trading dayThe Friday prior to the third Wednesday of the respective expiration month, provided that onthat day the European Money Markets Institute(EMMI) has determined the EURIBOR referenceinterest rate pertaining to three-month euro termdeposits; otherwise, the exchange day immediatelypreceding that day. Close of trading in these expiring option series on the last trading day is at 17:15 CET.
Daily settlement priceThe daily settlement price is established by Eurex.The daily settlement prices for One-Year Mid CurveOptions on Three-Month EURIBOR Futures aredetermined trough the binomial model accordingto Cox/Ross/Rubinstein.
Further details are available in the clearing con-di tions on www.eurexchange.com > Resources >Rules & Regulations.
173 172Interest Rate
Derivatives
ExerciseAmerican-style; an option can be exercised up to the end of the Post-Trading Full Period (20:00 CET) on any exchange day during the lifetime of the option, and on the last trading dayuntil 18:00 CET.
Exercise pricesThe expiration months have exercise prices withintervals of 0.125 points.
Number of exercise prices Upon the admission of the options, at least 25exercise prices shall be made available for eachterm for each call and put, such that twelve exercise prices are in-the-money, one is at-the-money and twelve are out-of-the-money.
Option premium The premium is settled using the futures-stylemethod.
Trading hours08:00–19:00 CET
Eurex Trade Entry ServicesThe following Eurex Trade Entry Services are available for One-Year Mid Curve Options onThree-Month EURIBOR Futures:
• Block Trades
Further information about Eurex Trade Entry Services is available in the appendix section or onwww.eurexchange.com > Products > Eurex TradeEntry Services.
Service hours08:00–19:00 CET
Mid Curve Options on Three-Month EURIBORFutures are available for trading in the U.S.
Eurex Bonds
175Eurex Bonds
Trading segmentGerman government bondsDebt securities issued by the Federal Republic of Germany (Bund, Bobl and Schatz issues) with a minimum issuing volume of EUR 4 billion orUSD 4 billion.
Treasury discount paper (Bubills)Treasury discount paper (Bubills) issued by theFederal Republic of Germany with a minimumissuing volume of EUR 4 billion.
Basis instrumentsThe basis represents a combination of securitiesand futures contracts that has its own price.Tradable on Eurex Bonds are basis instrumentsrelated to all debt securities of the FederalRepublic of Germany and the Republic of Italy,which are eligible for delivery into Eurex fixedincome futures.
European government bondsEUR-, DKK- or USD-denominated Europeangovernment bonds and treasury bills with a minimum issuing volume of EUR 1 billion, DKK 1 billion or USD 1 billion.1, 2
Eurex Bonds
1 Home market settlement for Danish bonds2 For these bonds a minimum rating of AA- from Standard & Poor’s Ratings Services or Aa3 from Moody’s Investor Services, Inc. is required.
177 176
State bondsGerman federal state bonds with a minimumissuing volume of EUR 0.5 billion.2
AgenciesEUR or USD denominated Bonds of supranationalinstitutions and bonds of state agencies with a minimum issuing volume of EUR 0.5 billion orUSD 1 billion.2
European covered bondsEuropean covered bonds with a minimum issuing volume of EUR 1 billion, USD 1 billion or DKK 1 billion.1, 2
Corporate bonds and financialsSelected corporate bonds and financials with a minimum issuing volume of EUR 1 billion orUSD 1 billion and an “Investment grade” rating.
European inflation linked bondsEuropean inflation linked bonds issued by thetreasuries of the Federal Republic of Germany,France, Italy and Greece with a minimum issuingvolume of EUR 1 billion or USD 1 billion.
Spread productsSpread products represent a combination of two bond trades. They are defined by the yieldspread between the two bonds or the spread between the yield of one bond on one side andanother benchmark like “LIBOR” or “EURIBOR”on the other side. Tradable on Eurex Bonds arebreak-even instruments which are the combinationof an inflation-linked bond and a nominal bond based on the break-even price. Break-even-instruments are tradable for German and Frenchinflation-linked bonds.
Eurex Bonds
Contract sizes in denominated currency
Price quotation Prices for all products except of zero bonds, basisand break-even instruments are expressed as a percentage of their nominal value. Treasurydiscount papers except italian ITCZs are quotedon a yield basis, the price of a basis instrument isthe price spread of the futures and the respectiveunderlying bond. The price of the break-eveninstrument is the yield spread between the nominaland the respective real bond. The tick sizes for all products are quoted with three decimal places.
Contract
German government bonds
Treasury discount paper(Bubills)
Basis instruments
European government bonds (except Frenchgovernment bonds)
French government bonds
State bonds
Agencies
European covered bonds
Corporate bonds and financials
European inflation linkedbonds
Break-even instruments
Central orderbook
minimum
1 million
1 million
5 million
1 million
2 million (increments of 0.5 million possible)
1 million
1 million
1 million
0.5 million
1 million
5 million
Pre-arrangedtrade facility
minimum
1 million
1 million
1 million
1 million
0.5 million (increments of0.5 million possible)
1 million
1 million
1 million
0.5 million
1 million
5 million
1 Home market settlement for Danish bonds2 For these bonds a minimum rating of AA- from Standard & Poor’s Ratings Services or Aa3 from Moody’s Investor Services, Inc. is required.
178
Delivery days
Trading hours
Contract
Standard*
Treasury discount paper(Bubills)
Basis instruments
Central orderbook
t+2
t+2
t+2
Pre-arrangedtrade facility
selectable betweent+1 and t+89
selectable betweent+1 and t+89
selectable betweent+2 and t+4
Contract
Standard
Danish government bonds and covered bonds
Basis instruments
Central orderbook
08:30–17:30 CET
08:30–17:30 CET
08:30–17:30 CET
Pre-arrangedtrade facility
07:25–19:00 CET
07:25–18:00 CET
08:20–19:00 CET
* French government bonds partly apply to deviating standards.
Eurex Repo
General Collateral BasketsGerman GC BasketEUR-denominated debt securities of the FederalRepublic of Germany and the Treuhandanstalt.
German 10 Year GC BasketEUR-denominated debt securities of the FederalRepublic of Germany and the Treuhandanstaltwith a remaining term of up to 10 years.
German Jumbo GC BasketEUR-denominated Jumbo-Pfandbriefe of Germanissuers as well as Asset Covered Securities (ACS)issued by mortgage banks and credit institutionssubject to public law. The issuance volume of such Jumbo-Pfandbriefe must be no less than EUR 1,000 million.*
Eurex RepoRepo Market
181Eurex Repo
180
* A minimum rating of AA from Standard & Poor’s RatingsServices for “Senior Unsecured Debt”, Aa2 from Moody’sInvestors Services, Inc. for “Long-Term Senior Debt” or AA from Fitch, Inc. for “International Long-Term Credit” is required. In case of differing ratings the lower valuationapplies.
** The issuing volume of the debt securities shall amount toat least EUR 100 million. In addition, the debt securitiesshall be rated as follows: at least A for “Senior UnsecuredDebt” by Standard & Poor’s Rating Services; at least A3 for “Long-Term Senior Debt” by Moody’s Investor Services,Inc. or at least A for “International Long-term Credit” byFitch, Inc. In case the rating by the named agencies differs,the lower rating is considered.
German Pfandbrief GC BasketEUR-denominated Pfandbriefe of German issuers.The issuance volume of such Pfandbriefe mustaccount for a minimum amount of EUR 100 millionand less than EUR 1,000 million.*
German Länder GC BasketEUR-denominated public authorities Germanybonds (e.g. German State Bonds – Länderanleihen).A minimum issuing volume of EUR 100 million is required.
KfW GC BasketEUR-denominated bonds of Kreditanstalt fürWiederaufbau (a public law institution of theFederal Republic of Germany). A minimumissuing volume of EUR 100 million is required.
German Corporate Bond GC BasketEUR-denominated covered and uncovered debtsecurities of German issuers (non-financial insti-tutions) as well as EUR-denominated uncovereddebt securities of German financial institutions.Excluded are debt securities of German issuers,which are included in the German GovernmentGuaranteed GC Basket.**
Agency GC BasketEUR-denominated debt securities of the EuropeanInvestment Bank (EIB) and the Caisse d’Amortisse-ment de la Dette Sociale (CADES) with a minimumissuing volume of EUR 500 million.
EIB GC BasketEUR-denominated bonds of the EuropeanInvestment Bank (EIB).
183 182
European Government GC BasketEUR-denominated debt securities of Austria,Belgium, Finland, France, Ireland, Luxembourg,Netherlands as well as Eurobonds (securities with ISINs beginning with the characters XS).
Austrian Government GC BasketEUR-denominated debt securities of the Republicof Austria.
Belgian Government GC BasketEUR-denominated debt securities of the Kingdomof Belgium.
Finnish Government GC BasketEUR-denominated debt securities of the Republicof Finland.
French Government GC BasketEUR-denominated debt securities of the FrenchRepublic.
Dutch Government GC BasketEUR-denominated debt securities of the Kingdomof the Netherlands.
Eurex Repo
Spanish Government GC BasketEUR-denominated debt securities of the Kingdomof Spain.
UK GILT GC BasketEUR-denominated debt securities of the UnitedKingdom and Ireland.
European Covered Bond GC BasketEUR-denominated mortgage bonds or respectivelydebt securities that are covered similar to mortgagebonds of European issuers. A minimum issuingvolume of EUR 100 million is required.*
French Covered Bond GC BasketEUR-denominated covered bonds or bonds which are covered similar to Pfandbriefe of French issuers, with a minimum issuing volume of EUR 100 million.*
European Corporate Bond GC BasketEUR-denominated covered and uncovered debtsecurities of European issuers (non-financial insti-tutions), uncovered debt securities of Europeanfinancial institutions as well as covered and un-covered Eurobonds (securities whose ISIN beginswith the numbers XS) of European issuers. Excep-tions are debt securities of German issuers whichare included in the German Corporate Bond GCBasket or in the German Government GuaranteedGC Basket as well as debt securities of Europeanissuers which are included in the EuropeanGovernment Guaranteed GC Basket.**
German Government Guaranteed GC BasketEUR-denominated government guaranteed debtsecurities with the Federal Republic of Germanyacting as guarantor.**
* A minimum rating of AA from Standard & Poor’s RatingsServices for “Senior Unsecured Debt”, Aa2 from Moody’sInvestors Services, Inc. for “Long-Term Senior Debt” or AA from Fitch, Inc. for “International Long-Term Credit” is required. In case of differing ratings the lower valuationapplies.
** The issuing volume of the debt securities shall amount toat least EUR 100 million. In addition, the debt securitiesshall be rated as follows: at least A for “Senior UnsecuredDebt” by Standard & Poor’s Rating Services; at least A3 for “Long-Term Senior Debt” by Moody’s Investor Services,Inc. or at least A for “International Long-term Credit” byFitch, Inc. In case the rating by the named agencies differs,the lower rating is considered.
185 184
** The issuing volume of the debt securities shall amount toat least EUR 100 million. In addition, the debt securitiesshall be rated as follows: at least A for “Senior UnsecuredDebt” by Standard & Poor’s Rating Services; at least A3 for “Long-Term Senior Debt” by Moody’s Investor Services,Inc. or at least A for “International Long-Term Credit” byFitch, Inc. In case the rating by the named agencies differs,the lower rating is considered.
European Government Guaranteed GC BasketEUR-denominated government guaranteed debtsecurities with the following countries acting asguarantor: Belgium, Germany (XS-ISIN), Finland,France, Luxembourg, Netherlands and Austria.**
EFSF GC BasketEUR-denominated special purpose entities of the European Economic and Monetary Union within the framework of the European FinancialStabilization Mechanism (ESM), especially theEuropean Financial Stabilization Facility (EFSF).
Special RepoThe securities available for Special Repo include allthose securities which are contained in the basketspecifications for General Collateral Repo and are not excluded from being eligible as collateralby the definition in the Basic Principles. Additionalsecurities with a minimal issue size of EUR 10 millionand a minimum rating of A-/A3 can be madeavailable for Special Repo on an individual basis.
Contract valueMinimum of EUR 1 million or a multiple thereofand minimum of EUR 500,000 or a multiple thereoffor the Special Repo of the Euro Repo Market.
Eurex Repo
GC Pooling® ECB Basket in CHF, EUR, GBP and USDMore than 7,500 ECB eligible securities for collateralized funding based on the Eligible AssetDatabase (EAD) with a minimum rating of A-. The basket collateral can be re-used for furtherGC Pooling® trades and for pledging in favour of the German Bundesbank and the EuropeanCentral Bank (only Xemac user) as well as EurexClearing AG to cover the margin requirements.
GC Pooling® ECB EXTended Basket in CHF,EUR, GBP and USDMore than 19,000 eligible securities for collater-alized funding based on the Eligible Asset Database(EAD) with currently a minimum rating of BBB-.The basket collateral can be re-used for furtherGC Pooling® trades and for pledging in favour ofEurex Clearing AG to cover the margin requirements.
GC Pooling® INT MXQ Basket in CHF, EUR,GBP and USD More than 1,700 eligible securities from 16 publicand seven supranational issuers with a minimumrating of AA-. The basket collateral can be re-used for further GC Pooling® trades and forpledging in favour of Eurex Clearing AG to coverthe margin requirements.
Eurex RepoGC Pooling®
Market
186
GC Pooling® Equity The GC Pooling® Equity Basket is defined by the European benchmark indexes AEX25,CAC 40®, DAX® and EURO STOXX 50®. This basketenables the re-use within the GC Pooling® Equitymarket and Eurex Clearing Margining (possible forcustomers with Xemac access).
Contract value Minimum of EUR, USD, GBP or CHF 1 million or a multiple thereof
SettlementDelivery versus payment.
Price quotationIn percent, with a maximum of three decimal places.
Contract types – Repo MarketGeneral Collateral Baskets and Special RepoON, TN, SN, CN, C1W, 1WE, 2WE, 3WE, 1M, 2M,3M, 6M, 9M, 12M, Non Standard and Open-termson fix and variable repo rates (variable repo ratesonly available for the General Collateral Basket).
Contract types – GC Pooling® Market ON, TN, SN, Spot 1WE, 2WE, 1M, 3M, 6M, 9M,12M, FlexTerm for fix und variable repo rates.
No OverNight trading in the CHF and GBP segment.
Daily settlement priceClose of previous day.
187Eurex Repo
Cut-off times for OverNight Repo –Repo MarketGeneral Collateral Baskets and Special Repo External 10:30 CET (settlement betweenClearstream Banking and Euroclear Bank)
Internal 15:30 CET (settlement either withinClearstream Banking or Euroclear Bank)
Cut-off times for OverNight Repo –GC Pooling® Market
Trading hours07:30–18:00 CET
EUR GC Pooling®
USD GC Pooling®
CHF GC Pooling®
GBP GC Pooling®
GC Pooling® Fixed IncomeBaskets
GC Pooling® Equity Basket
GC Pooling® Fixed IcomeBaskets
OverNight trading is currently not possible.
OverNight trading is currently not possible.
17:00 CET
15:00 CET
16:30 CET
-
-
188
ProductsLoan• Shares of the following indexes: H-DAX®,
SMI® and SMIM®, CAC 40®, BEL 20, AEX25• Government bonds and notes of major
industrialized nations• Broad range of corporate straight and
convertible bonds• Supranationals (XS) and listed Eurobonds• Wide range of Exchange Traded Funds
Equity collateral• Selected indexes from Europe, Asia Pacific
and North America• Selected ETF ISINs
Fixed income collateral• Central Government Bond Issues• Supranational Issuers• ECB-eligible Non-Central government Bonds &
Corporate Bonds as announced by ECB
Cash collateralIn addition to securities collateral, cash in the following currencies may be used for collateralization of the loans: USD and EUR.Settlement via cash correspondent.
Contract sizes Minimum contract size forEquities: 1 pieceBonds: 1,000 nominal
SecLend Market ClearingThe integrated Eurex Clearing CCP service coversEuropean markets for loans in equities, ETFs aswell as fixed income securities. The Eurex ClearingCCP service reduces counterparty risk exposureand eliminates the need for multiple credit limitevaluations. Tri-Party service only through Euroclearor Clearstream Luxembourg.
SettlementEquities: via home market settlement: Clearstream Banking Frankfurt (CBF), SIX SIS AG
Fixed Income: Clearstream Banking Luxembourg,Euroclear Bank
Contract typesStandardized contractsStandardized contracts are contracts where the term is defined with a fixed duration rangingfrom 1 week to 1 year (“Fixed Term Contract”) or where the opening date is defined and the closing date is left open (“Standardized Open EndContract”). All other contract attributes are variable.
Non-standardized contractsNon-standardized contracts are contracts wherethe opening date and the closing date are negotiable or where the opening date is negotiableand the closing date can be left open. All othercontract attributes are variable.
Cut-off dates for cash collateralEUR 15:00 CET USD 15:00 CET
Trading hours07:00–18:00 CET
189Eurex Repo
190
Appendix
191
The Eurex Block Trade Service is available forthe following Eurex products and the illustratedminimum number of traded contracts.
Option strategies or option volatility strategies on the basis of Eurex options listed in the tableare also admitted to the Block Trade Service.The minimum Block Trade size of option strategiesor option volatility strategies is equivalent to the minimum Block Trade size of the respectiveunderlying option contracts of the strategy.
Block Trades
Prod-uct ID
FESX
FEXF
FESQ
TESX
FEDV
Minimumnumber of traded contracts
1
250
1
100
1,000
250
1,000
100
100
Contract
Equity Derivatives
Single Stock Futures
Equity Options/LEPOS (part of an AMM package)
Equity Options/LEPOS (not part of an AMM package)
British Equity Options/LEPOS
Equity Index Derivatives – Futures
EURO STOXX 50® Index Futures
EURO STOXX 50® ex Financials IndexFutures
EURO STOXX 50® Quanto Index
EURO STOXX 50® Total Return Index
EURO STOXX® Select Dividend 30Index Futures
193 192
Prod-uct ID
FXXE
FLCE
FMCE
FSCE
FSTX
FGDV
FXXP
FLCP
FMCP
FSCP
FDAX®
FDXM
FDIV
F2MX
FTDX
FSMI
FSMM
FSLI
FFOX
FATX
FATF
FCEE
FRDE
FRDX
FMEU
FMWO
Minimumnumber of traded contracts
100
100
100
100
250
100
100
100
100
100
250
250
250
100
250
50
250
500
250
250
100
100
100
1
1
1
1
250
100
Contract
Equity Index Derivatives – Futures
EURO STOXX® Index Futures
EURO STOXX® Large Index Futures
EURO STOXX® Mid Index Futures
EURO STOXX® Small Index Futures
STOXX® Europe 50 Index Futures
STOXX® Global Select Dividend 100 IndexFutures
STOXX® Europe 600 Index Futures
STOXX® Europe Large 200 Index Futures
STOXX® Europe Mid 200 Index Futures
STOXX® Europe Small 200 Index Futures
EURO STOXX® Sector Index Futures
STOXX® Europe 600 Sector Index Futures
DAX® Futures
Mini-DAX® Futures
DivDAX® Futures
MDAX® Futures
TecDAX® Futures
SMI® Futures
SMIM® Futures
SLI® Futures
OMXH25 Futures
ATX® Futures
ATX® five Futures
CECE® EUR Index Futures
RDX® EUR Index Futures
RDX® USD Index Futures
MSCI Index Futures (standard)
MSCI Europe Index Futures
MSCI World Index Futures (USD)
FMAS
FMEM
FMEA
FMEE
FMEL
FMJP
FSEN
FT25
FMK2OKS2
FTX
OESX
OEXF
OEDV
OXXE
OLCE
OMCE
OSCE
OSTX
OGDV
OXXP
OLCP
OMCP
OSCP
Prod-uct ID
50
50
50
50
20
50
1
1
100 25
25
1,000
250
100
100
100
100
100
250
100
100
100
100
100
Minimumnumber of traded contracts
Contract
Equity Index Derivatives – Futures
MSCI AC Asia Pacific ex Japan IndexFutures
MSCI Emerging Markets Index Futures(USD)
MSCI Emerging Markets Asia IndexFutures
MSCI Emerging Markets EMEA IndexFutures
MSCI Emerging Markets Latin AmericaIndex Futures
MSCI Japan Index Futures
SENSEX Futures
TA-25 Index Futures
Daily Futures on KOSPI 200 Derivatives
Daily Futures on TAIEX Futures
Equity Index Derivatives – Options
EURO STOXX 50® Index Options
EURO STOXX 50® ex Financials IndexOptions
EURO STOXX® Select Dividend 30 IndexOptions
EURO STOXX® Index Options
EURO STOXX® Large Index Options
EURO STOXX® Mid Index Options
EURO STOXX® Small Index Options
STOXX® Europe 50 Index Options
STOXX® Global Select Dividend 100 IndexOptions
STOXX® Europe 600 Index Options
STOXX® Europe Large 200 Index Options
STOXX® Europe Mid 200 Index Options
STOXX® Europe Small 200 Index Options
194 195
Prod-uct ID
Minimumnumber of traded contracts
EURO STOXX® Sector Index Options
STOXX® Europe 600 Sector Index Options
DAX® Options
DivDAX® Options
MDAX® Options
TecDAX® Options
SMI® Options
SMIM® Options
SLI® Options
OMXH25 Options
ATX® Options
ATX® five Options
CECE® EUR Index Options
RDX® EUR Index Options
RDX® USD Index Options
MSCI Index Options (standard)
MSCI Europe Index Options
MSCI World Index Options (USD)
MSCI AC Asia Pacific ex Japan IndexOptions
MSCI Emerging Markets Index Options (USD)
MSCI Emerging Markets Asia IndexOptions
MSCI Emerging Markets EMEA IndexOptions
MSCI Emerging Markets Latin AmericaIndex Options
SENSEX Options
EURO STOXX 50® Weekly Options
EURO STOXX® Banks Weekly Options
DAX® Weekly Options
ODAX
ODIV
O2MX
OTDX
OSMI
OSMM
OSLI
OFOX
OATX
OATF
OCEE
ORDE
ORDX
OMEU
OMWO
OMAS
OMEM
OMEA
OMEE
OMEL
OSEN
100
100
500
250
50
250
500
250
250
100
100
100
1
100
100
1
250
100
50
50
50
50
20
1
1,000
100
500
Prod-uct ID
Minimumnumber of traded contracts
FCEU
OCEU
FVS
OVS
EVAR
FXGL
OXGL
FGBS
FGBM
FGBL
FGBX
100
500
200
500
200
1
1
1,000
500
1
1,000
1
100
100
1,000
100
100
1
100
4,000
3,000
2,000
100
Contract
Equity Index Derivatives – Options
Contract
Equity Index Derivatives – Options
Daily Futures on TAIEX Options(incl. Weekly Options)
FX Derivatives
FX Futures (standard)
EUR/USD Futures
FX Options (standard)
EUR/USD Options
Dividend Derivatives
Single Stock Dividend Futures
Equity Index Dividend Derivatives
Volatility Derivatives
VSTOXX® Futures
VSTOXX® Options
EURO STOXX 50® Variance Futures
Exchange Traded Products Derivatives – Futures
Futures on ETFs
Futures on ETCs
Xetra-Gold® Futures
Exchange Traded Products Derivatives – Options
Options on db x-trackers ETFs
Options on iShares ETFs
Options on Lyxor ETFs
Options on Source ETFs
Options on ETCs
Xetra-Gold® Options
Interest Rate Derivatives
Fixed Income Derivatives – Futures
Euro-Schatz Futures
Euro-Bobl Futures
Euro-Bund Futures
Euro-Buxl® Futures
197 196
Prod -uct ID
Minimumnumber of traded contracts
50
1
1
1
Contract
Commodity Derivatives
Commodity Index Futures
Commodity Index Options
Property Derivatives
Property Futures
Prod -uct ID
FBTS,FBTM
FBTP
FOAT
FOAM
FBON
CONF
OGBS
OGBM
OGBL
OOAT
FSWS
FSWM
FSWL
FSWX
FEO1
FEU3
FLIC
OEU3
OEM1OEM2OEM3OEM4
Minimumnumber of traded contracts
100
250
250
250
250
500
300
200
100
50
1,000
500
250
100
300
100
300
50
50
Contract
Interest Rate Derivatives
Fixed Income Derivatives – Futures
Short- and Mid-Term Euro-BTP Futures
Long-Term Euro-BTP Futures
Euro-OAT Futures
Mid-Term Euro-OAT Futures
Euro-BONO Futures
CONF Futures
Interest Rate Derivatives
Fixed Income Derivatives – Options
Options on Euro-Schatz Futures
Options on Euro-Bobl Futures
Options on Euro-Bund Futures
Options on Euro-OAT Futures
Futures on Interest Rate Swaps
2-year Euro-Swap Futures
5-year Euro-Swap Futures
10-year Euro-Swap Futures
30-year Euro-Swap Futures
Money Market Derivatives – Futures
EONIA Futures
Three-Month EURIBOR Futures
EUR Secured Funding Futures
Money Market Derivatives – Options
Options on Three-Month EURIBOR Futures
One- to Four-Year Mid Curve Optionson Three-Month EURIBOR Futures
199 198
Eurex products across various asset classes areoffered via the Flexible Contracts Services. The minimum trading size for Flexible Contracts is identical to the minimum Block Trade size of the respective product.
Flexible Futures The Flexible Futures Service is available for:
• Single Stock Futures• Equity index futures• ETF Futures• ETC Futures• Commodity index futures
Market participants can design Flexible Futurestrades by selecting:
• Flexible maturity Participants of a Flexible Futures trade can create
their own maturity date for the transaction.Individual maturity dates can be as early as thenext exchange day or as far out as the maturitydate for the most distant respective standardfutures contract.
• Settlement type In trades with Single Stock Futures membershave the ability to negotiate the terms of settlement at time of conclusion (cash settle-ment or physical delivery).
Flexible Contracts Flexible Options The Flexible Options Service is available for:
• Options on fixed income futures• Equity options/ low exercise price options (LEPOs) • Equity index options• ETF Options• ETC Options
Market participants can design Flexible Optionsby selecting:
• Exercise price The selected exercise price can be defined
above the highest exercise price of the corre-sponding regular option series or may be thelowest exercise price of an option (e.g. LEPOs)which can be represented in the Eurex® systemor an intermediate price. Maximum exerciseprices are limited to 2.5-times the highest avail-able standard expiries in the respective product.
• Expiration dateThe expiration date can be any exchange day(with some special Eurex defined exceptions)starting from the next exchange day until thelongest currently active standard expirationdate of the respective product.
• Exercise styleAmerican-style (exercise on any exchange dayduring the lifetime of the option) or European-style (exercise only on the last trading day ofthe option) can be specified.
• Settlement typeIn trades with equity and ETF options membershave the ability to negotiate the terms of settle-ment at time of conclusion (cash settlement orphysical delivery).
201 200
The Exchange for Physicals (EFP) Service is avail -able for the following combinations of Eurexinterest rate derivatives and admitted underlyinginstruments:
All debt securities, which show a price correlationto futures contracts exchanged resulting in the futures contract representing an appropriatehedge instrument for cash transactions, may bepart of an EFP Trade.
Non-Eurex fixed income futures or Euro-SwapFutures within this meaning are all fixed incomefutures or Euro-Swap Futures respectively tradedoutside the Eurex exchanges, whose design does
Exchange forPhysicals(Interest Rate Derivatives)EFP Trades
Cash leg
Eurex Futures (transaction creating a position)
Eurex fixed income futures and Euro-Swap Futures
Eurex money market futures
Futures leg
Admitted underlyings(reporting transaction)
Debt securities
Eurex or non-Eurex money market futures
Eurex or non-Eurex fixed income and Euro-Swap Futures
Eurex Repo GC Pooling®
transactions
Non-Eurex money market futures
not correspond to the essential specifications ofthe fixed income futures or Euro-Swap Futurestraded on the Eurex Exchange.
A Eurex GC Pooling® Repo Transaction specifies a purchase/sale of the GC Pooling® ECB or of the GC Pooling® ECB EXTended basket and itssimultaneous re-sale/re-purchase as a future. The nominal value of the Repo transaction mustbe equivalent to the value of Eurex money marketfutures multiplied by the number of contracts.
The underlying cash transaction of the EFP Trademust be denominated in a currency of the OECDmember states.
Both contract parties are obligated to provide proofof the completed cash transaction if requested bya supervisory authority.
203 202
Exchange forPhysicals(Equity Index Futures)EFPI Trades
The Exchange for Physicals (EFPI) Service is avail-able for the following combinations of Eurex equityindex futures and admitted underlying instruments:
Generally, for EFPI trades the following constella-tions are possible:
• Two participants conclude both the off-exchangecash transaction as well as the futures trans-action with one another or
• Two participants conclude the futures transactionwith one another.
One participant is an official Market Maker(“Authorized Participant“) for exchange-tradedindex fund shares who concludes the respectivecash transaction with the ETF issuer. The secondparticipant concludes the respective cash trans-action with one third party or more third parties(auction). The cash transactions concluded by the contractual parties of a futures transaction donot have to relate to an identical transaction object.A combination of two futures trades of the sameproduct is admitted.
Cash leg
Admitted underlyings(reporting transaction)
Equity basket
Exchange-traded index fund share
Futures leg
Eurex Futures (transactioncreating a position)
Eurex Equity Index Futures
Eurex Equity Index Futures
Cash transactions with respect to EFPI trades are equity baskets or exchange-traded indexfund shares with the following characteristics:
• The nominal value of the equity basket/exchange-traded index fund share has to amount to one third of the transaction value of the minimum transaction volume for a Block Trade transaction in the respectiveequity index futures (index level � contractvalue � minimum Block Trade transactionvolume / 3) and must not deviate from the nominal value of the futures position bymore than 20 percent.
• The equity basket/exchange-traded index fund share must consist of at least ten differentindex components or a number of equities that represent at least half of the equity indexunderlying the futures contract.
• The nominal value of that part of the equitybasket/exchange-traded index fund share,whose components are part of the equity index underlying the futures contract, must be at least 20 percent of the nominal value of the entire cash transaction.
• All components of the equity basket/exchange-traded index fund share must be part of the STOXX® Europe TMI Index, the MSCI WorldIndex, the MSCI Emerging Markets Index,the MSCI Frontier Markets Index, the ATX®, the CECE® EUR Index, the RDX® USD Index,the TA-25 Index or the SENSEX.
The Exchange for Physicals (EFP) Service is avail -able for the following combinations of Eurex FXFutures and admitted underlying instruments:
Transactions which are similar to FX spot andshow a price correlation to the exchanged futurescontract, such that the futures contract constitutesa suitable hedging instrument for the opposite FX transaction, may be part of an EFP Trade.
The number of contracts of the traded FX futurescontracts must be at least equal to 1. The currencypair of the opposite FX transaction and of the FX futures contracts must consist of the sametwo currencies.
The nominal value of the opposite FX transactionshall (after conversion into the same currency –if applicable) be equivalent to the nominal valueof the FX futures contract and shall not deviatefrom it by more than 20 percent.
205 204
The number of traded futures contracts musthave a specific correlation to the nominal valueof the equity basket/exchange-traded index fund so that the futures are a suitable instrumentfor hedging the cash market transaction.
Both parties are obligated to provide evidence of cash transactions if requested to do so by a supervisory authority.
Exchange forPhysicals(FX Futures)
Cash leg
Admitted underlying instru-ments (reporting transaction)
Non-Eurex FX Futures, spot, non-deliverable forwards (NDF),FX swaps, cross currency (basis) swaps andcurrency swaptions
Futures leg
Eurex futures (transactioncreating a position)
Eurex FX Futures
207
The Exchange for Physicals (EFPI) Service is avail -able for the following combinations of Eurex vola-tility index futures and admitted underlyinginstruments:
Cash transactions in EFPI trades with Eurex volatility index futures must fulfill the followingcharacteristics:
• All exchange-traded index fund shares andNon-Eurex volatility index futures, which showa price correlation to exchanged volatility indexfutures so that the respective futures contractdescribes an appropriate hedge instrument forcash transactions, may be part of an EFPI trade.
• The number of traded futures contracts musthave a specific correlation to the nominal valueof the exchange-traded index fund shares. The market value of the exchange-traded indexfund shares must not deviate from the nominalvalue of the futures position by more than 20 percent.
Exchange forPhysicals(Volatility Index Futures)
Cash leg
Admitted underlyings(reporting transaction)
Exchange-traded index fund share
Non Eurex Volatility Index Futures
Futures leg
Eurex Futures (transactioncreating a position)
Eurex Volatility Index Futures
Eurex Volatility Index Futures
206
FX swaps, cross currency (basis) swaps and currency swaptions may serve as opposite trans-actions in EFP Trades. Furthermore, these trans-actions must have the following characteristics:
• Agreement under the terms of an ISDA MasterAgreement or any equivalent master agreement
• All payments of the swap shall correspond tothe currency pair that the FX futures contractrefers to.
208 209
Trade at Index Close supports the entry of off-book trades in equity index futures based on the combination of the next available index closingprice plus basis.
A futures transaction in equity index futures thatare priced by reference to a prospective closinglevel of the underlying index plus basis (guaranteedprice), can enter this transaction via the Exchangefor Physicals (EFPI) Service. The trade has to beentered as soon as the daily underlying index closeprice is available (in regular cases until 18:15 CET).The final futures price is determined by adding the basis to the index close.
Trades at Index Close are available for all equityindex futures admitted to the EFPI Service andmust fulfill the following characteristics:
• Trade entry must indicate that the trade is a “Trade at Index Close” and the basis agreedupon between two counterparties.
• Trade must be entered whenever the next official closing price of the underlying index is available.
• Minimum sizes must be at least ten percent ofthe Block Trade size in place for the respectivefutures contract.
Trade at Index Close
• On request, participants are required to provideevidence for the respective transactions. The evidence must include the guaranteedprice and the relation to the relevant officialclosing price of the underlying index.
211 210
The Exchange for Swaps (EFS) Service is availablefor the following combinations of Eurex equityindex futures and OTC equity index swaps:
Futures leg (transaction creating a position)
Exchange forSwaps(Equity Index Futures)EFS Trades
Contract
EURO STOXX 50® Index Futures
EURO STOXX 50® ex Financials Index Futures
EURO STOXX® Select Dividend 30 Index Futures
STOXX® Europe 50 Index Futures
STOXX® Global Select Dividend 100 Index Futures
EURO STOXX® Index Futures
EURO STOXX® Large/Mid/Small Index Futures
STOXX® Europe 600 Index Futures
STOXX® Europe Large/Mid/Small 200 Index Futures
EURO STOXX® Sector Index Futures
STOXX® Europe 600 Sector Index Futures
DJ Sector Titans IndexSM Futures
DJ Global Titans 50 IndexSM Futures (EUR/USD)
DAX® Futures
Mini-DAX® Futures
DivDAX® Futures
MDAX® Futures
TecDAX® Futures
ProductID
FESX
FEXF
FEDV
FSTX
FGDV
FXXE
FLCE, FMCE,FSCE
FXXP
FLCP, FMCP,FSCP
FGTI, FT50
FDAX®
FDXM
FDIV
F2MX
FTDX
Cash leg (reporting transaction)Cash transactions in EFS trades for equity indexes are equity index swaps with the followingcharacteristics:
• The share basket reflected via the swap shallbe composed of at least ten different indexcomponents or a number of shares whichrepresent at least half of the equity indexunderlying the futures contract.
• The market value of the part of the share basketreflected via the swap whose values are part ofthe equity index underlying the futures contractshall be at minimum 20 percent of the marketvalue of the entire cash transaction.
• All single shares in the share basket reflected viathe swap shall be part of the STOXX® EuropeTMI Index, the MSCI World Index, the MSCIEmerging Markets Index, the MSCI FrontierMarkets Index, the ATX®, the CECE® EUR Index,the RDX® USD Index, the TA-25 Index or the SENSEX.
Contract
SMI® Futures
SMIM® Futures
SLI® Futures
OMXH25 Futures
ATX® Futures
CECE® EUR Index Futures
RDX® USD Index Futures
MSCI Index Futures
SENSEX Futures
TA-25 Index Futures
Product ID
FSMI
FSMM
FSLI
FFOX
FATX
FCEE
FRDX
FSEN
FT25
213 212
• Written under the terms of an ISDA MasterAgreement.
• All swap payments must be denominated in a currency of the OECD Member States.
The Exchange for Swaps (EFS) Service is availablefor the following combinations of Eurex interestrate derivatives and OTC orders in interest rateswaps as well as interest rate swaptions:
Futures leg (transaction creating a position)
Cash leg (reporting transaction)Cash transactions in EFS trades must have differentcharacteristics depending on the futures contract.You can find them in the Conditions for Utilizationof the Trade Entry Facilities under www.eurexchange.com > Products > Eurex TradeEntry Services.
Exchange forSwaps(Interest Rate Derivatives)EFS Trades
Contract
Euro-Schatz Futures
Euro-Bobl Futures
Euro-Bund Futures
Euro-Buxl® Futures
Euro-BTP Futures
Euro-OAT Futures
Euro-BONO Futures
CONF Futures
EONIA Futures
Three-Month EURIBOR Futures
EUR Secured Funding Futures
Euro Swap Futures
Product ID
FGBS
FGBM
FGBL
FGBX
FBTS, FBTM, FBTP
FOAM, FOAT
FBON
CONF
FEO1
FEU3
FLIC
FSWS, FSWM,FSWL, FSWX
215 214
The Vola Trade Service is available for the following combinations of Eurex options and futures:
Vola Trades
* The respective product ID of the required product can be found on pages 47, 48 and 49.
* The respective product ID of the required product can be found on pages 62, 63 and 64.
Product ID
OESX
OEDV
OXXE
OLCE
OMCE
OSCE
OSTX
OGDV
OXXP
OLCP
OMCP
OSCP
*
*
ODAX®
O2MX
OTDX
ODIV
OSMI
OSMM
OSLI
OATX
ContractOptions on
Equity Index Derivatives
EURO STOXX 50® Index
EURO STOXX® Select Dividend 30 Index
EURO STOXX® Index
EURO STOXX® Large Index
EURO STOXX® Mid Index
EURO STOXX® Small Index
STOXX® Europe 50 Index
STOXX® Global Select Dividend 100 Index
STOXX® Europe 600 Index
STOXX® Europe Large 200 Index
STOXX® Europe Mid 200 Index
STOXX® Europe Small 200 Index
EURO STOXX® Sector Indexes
STOXX® Europe 600 Sector Indexes
DAX®
MDAX®
TecDAX®
DivDAX®
SMI®
SMIM®
SLI®
ATX®
OATF
OCEE
ORDE
ORDX
OFOX
OMEU
OMEP
OMWO,OMWN
OMWP
OMAS
OMEM,OMEN
OMEF
OMEA
OMEE
OMEL
OMRU
OSEN
*
*
*
*
OCEU
OCAY
OCAU
OCEA
OCEF
OCEP
OCEY
OCEU
OCPF
Product ID
ContractOptions on
Equity Index Derivatives
ATX® five
CECE® EUR Index
RDX® EUR
RDX® USD
OMXH25
MSCI Europe Index
MSCI Europe Price Index
MSCI World Index
MSCI World Price Index
MSCI AC Asia Pacific ex Japan Index
MSCI Emerging Markets Index
MSCI Emerging Markets Price Index
MSCI Emerging Markets Asia Index
MSCI Emerging Markets EMEA Index
MSCI Emerging Markets Latin America Index
MSCI Russia Index
SENSEX
EURO STOXX 50® Index – Weekly
EURO STOXX® Banks Sector – Weekly
DAX® – Weekly
SMI® – Weekly
FX Derivatives
AUD/JPY
AUD/USD
EUR/AUD
EUR/CHF
EUR/GBP
EUR/JPY
EUR/USD
GBP/CHF
217 216
OCPU
OCNU
OCUF
OCUY
OEXD
OGBS
OGBM
OGBL
OOAT
OEU3
OVS
OCCO
Product ID
ContractOptions on
FX Derivatives
GBP/USD
NZD/USD
USD/CHF
USD/JPY
Dividend Derivatives
EURO STOXX 50® Index Dividend Futures
Interest Rate Derivatives
Euro-Schatz Futures
Euro-Bobl Futures
Euro-Bund Futures
Euro-OAT Futures
Three-Month EURIBOR Futures
Volatility Derivatives
VSTOXX®
Commodity Derivatives
Bloomberg Commodity IndexSM
Product ID
FESX
FEDV
FXXE
FLCE
FMCE
FSCE
FSTX
FGDV
FXXP
FLCP
FMCP
FSCP
ContractFutures on
Equity Index Derivatives
EURO STOXX 50® Index
EURO STOXX® Select Dividend 30 Index
EURO STOXX® Index
EURO STOXX® Large Index
EURO STOXX® Mid Index
EURO STOXX® Small Index
STOXX® Europe 50 Index
STOXX® Global Select Dividend 100 Index
STOXX® Europe 600 Index
STOXX® Europe Large 200 Index
STOXX® Europe Mid 200 Index
STOXX® Europe Small 200 Index
Product ID
ContractFutures on
Equity Index Derivatives
EURO STOXX® Sector Indexes
STOXX® Europe 600 Sector Indexes
DAX®
MDAX®
TecDAX®
DivDAX®
SMI®
SMIM®
SLI®
ATX®
ATX® five
CECE® EUR Index
RDX® EUR
RDX® USD
OMXH25
MSCI Europe Index
MSCI Europe Price Index
MSCI World Index
MSCI World Price Index
MSCI AC Asia Pacific ex Japan Index
MSCI Emerging Markets Index
MSCI Emerging Markets Price Index
MSCI Emerging Markets Asia Index
MSCI Emerging Markets EMEA Index
MSCI Emerging Markets Latin America Index
MSCI Russia Index
SENSEX
EURO STOXX® Index
EURO STOXX® Banks Sector
*
*
FDAX®,FDXM
F2MX
FTDX
FDIV
FSMI
FSMM
FSLI
FATX
FATF
FCEE
FRDE
FRDX
FFOX
FMEU
FMEP
FMWO,FMWN
FMWP
FMAS
FMEM, FMEN
FMEF
FMEA
FMEE
FMEL
FMRU
FSEN
FXXE
FESB
* The respective product ID of the required product can be found on pages 28 and 29.
219 218
ProductID
ContractFutures on
FX Derivatives
FCAY
FCAU
FCEA
FCEF
FCEP
FCEY
FCEU
FCPF
FCPU
FCNU
FCUF
FCUY
FEXD
FGBS
FGBM
FGBL
FOAT
FEU3
FVS
FCCO
AUD/JPY
AUD/USD
EUR/AUD
EUR/CHF
EUR/GBP
EUR/JPY
EUR/USD
GBP/CHF
GBP/USD
NZD/USD
USD/CHF
USD/JPY
Dividend Derivatives
EURO STOXX 50® DVP
Interest Rate Derivatives
Euro-Schatz
Euro-Bobl
Euro-Bund
Euro-OAT
Three-Month EURIBOR
Volatility Derivatives
VSTOXX®
Commodity Derivatives
Bloomberg Commodity IndexSM
The Multilateral Trade Registration Service allowsprocessing of multilateral Block Trades by authorized Trading Participants of Eurex Exchange (Non-Clearing Members) as well as Members of Eurex Clearing.
Block Trades can also be submitted to the authorized Trading Participants by third partyinformation providers (TCPs). As the TCPs are not authorized participants, these entities willnot act as counterparties in the Eurex system.
The MTR Service provides an efficient way for registration of Block Trades with several counter-parties (e.g. one buyer vs. three sellers), instead of entering separate bilateral Block Trades. The MTR Service alleviates the administrativeeffort as the trade details do not necessarily have to be entered by the actual counterparties,but rather by a single participant acting in the Eurex system as an entering “broker”.
The multilateral Block Trades are cleared by Eurex Clearing after all involved counterpartieshave approved the trade in the Eurex System.
Multilateral TradeRegistration(MTR)
221 220
The MTR Service is available for the following products:
• Equity options • Options on fixed income futures • Options on Xetra-Gold®
• Options on ETFs• MSCI Index Futures• Eurex KOSPI/TAIEX products• FX derivatives
The Trade Entry Service via e-mail is available for the following products:
• Single Stock Futures and equity options onRussian underlyings
• MSCI Russia Index Futures and Options
The purpose of this service is to facilitate quickand easy entry of off-book trades per e-mail. All Eurex Trade Entry Services for the afore-mentioned products can be used.
Trade Entry Service via E-Mail
223 222
Complex Orders are a trading platform featurewhich facilitates trading option and option volatility strategies. It enables all market partici-pants to trade strategies, based on predefinedstrategy combinations:
Option strategies
Complex OrdersStrategy Types
Min-mumprice(no. ofticks)
2
2
Strategy structure(buy perspective)
Buy Call, buy Put atsame exercise price
Sell Call and Put in near month, buy Call and Put in far month, all at same exercise price
Sell Call and Put in near month, buy Call and Put at different exercise price in farmonth
Buy Call, buy Put atsame exercise price,sell Call at different exercise price
Buy Call, buy Put atsame exercise price, sell Put at differentexercise price
Buy Put, buy Call athigher exercise price
Buy Call, sell Call athigher exercise price
Example
OESX STDDEC17 2900
OESX STDT NOV17 DEC17 2900
OESX DIASTDNOV17 2900DEC17 3000
OESX STDDEC17 3000versus C 3900
OESX STD DEC17 2800 versus P 2900
OESX STG NOV17 2900 – 3000
OESX BULDEC17 2900 –3000
Stra t - egyshortcode
STD
STDT
DIASTD
STD-C
STD-P
STG
BUL
Strategylongname
Straddle
StraddleCalendarSpread
DiagonalStraddleCalendarSpread
StraddleversusShort Call
StraddleversusShort Put
Strangle
Call Spread
Min-mumprice(no. ofticks)
0
0
Strategy structure(buy perspective)
Buy Call, sell Call at higher exercise price,sell Put at any exerciseprice
Buy Put, sell Put at lower exercise price
Buy Put, sell Put at lower exercise price, sell Call at any exerciseprice
Sell Call near month, buy Call at same exercise price in farmonth
Sell Put near month, buy Put at same exercise price in farmonth
Sell Call near month, buy Call at different exercise price in farmonth
Sell Put near month, buy Put at different exercise price in farmonth
Sell Call, buy two Calls at higher exerciseprice
Sell Put, buy two Puts at lower exerciseprice
Sell Call, buy three Calls at higher exercise price
Sell Put, buy three Puts at lower exercise price
Buy Call, sell two Calls at higher exerciseprice, buy Call at equally higher exerciseprice
Buy Put, sell two Puts at higher exerciseprice, buy Put at equally higher exerciseprice
Example
OESX BULNOV17 2900 –3000 versus P 2800
OESX BERNOV17 2900 –2800
OESX BERDEC17 3000 –2900 versus C 2800
OESX BLT NOV17 DEC17 2900
OESX BRT NOV17 DEC172700
OESX CDIANOV17 2900DEC17 3000
OESX PDIANOV17 3000DEC17 2900
OESX RBULDEC 2900 –3000
OESX RBERNOV17 3000 –2900
OESX BU13NOV17 2900 –3000
OESX BR13NOV17 3000 –2900
OESX CBUTDEC17 2800 –2900 – 3000
OESX PBUTDEC17 2800 –2900 – 3000
Stra t - egyshortcode
BUL-P
BER
BER-C
BLT
BRT
CDIA
PDIA
RBUL
RBER
BU13
BR13
CBUT
PBUT
Strategylongname
Call SpreadversusShort Put
Put Spread
Put SpreadversusShort Call
CallCalendarSpread
PutCalendar Spread
CallDiagonalCalendarSpread
PutDiagonalCalendarSpread
2x1 RatioCall Spread
2x1 RatioPut Spread
3x1 RatioCall Spread
3x1 RatioPut Spread
CallButterfly
PutButterfly
225 224
Min-mumprice(no. ofticks)
0
2
0
0
Strategy structure(buy perspective)
Buy Call, sell Call at higher exercise price, buy Call at higher exercise price
Buy Put, sell Put at higher exercise price, buy Put at higher exercise price
Sell Put, buy Put and Call at higher exerciseprice, sell Call at equally higher exerciseprice
Buy Call, sell Call at higher exercise price, sell Call at equally higher exercise price
Sell Put, sell Put at higher exercise price, buy Put at equally higher exercise price
Buy Call, sell Put at same exercise price
Sell Call, buy Put at lower exercise price
Buy Call, buy Put at higher exercise price
Buy Call, sell Put at same exercise price, buy Put and sell Call athigher exercise price
Sell Call, buy Put at same exercise price in near month; buy Call, sell Put at same exercise price in far month (exercise price in far month does nothave to equal exerciseprice in near month)
Buy Call, Sell Call athigher exercise price, sell Call at equally higher exercise price, buy Call at again equally higher exerciseprice
Example
OESX CBUSDEC17 2800 –2900 – 3000
OESX PBUSDEC17 2800 –2900 – 3000
OESX IBUTNOV17 2800 –2900 – 3000
OESX CLADNOV17 2800 –2900 – 3000
OESX PLADNOV17 2800 –2900 – 3000
OESX CNVDEC17 3000
OESX COMBODEC17 2900 –2800
OESX GUTSDEC17 2900 –3000
OESX BOXDEC17 3000 –3100
OESX JR NOV172900 DEC173000
OESX CCONDDEC17 2800 –2900 – 3000 –3100
Stra t - egyshortcode
CBUS
PBUS
IBUT
CLAD
PLAD
CNV
COMBO
GUTS
BOX
JR
CCOND
Strategylongname
Skinny CallButterfly
Skinny PutButterfly
IronButterfly
Call Ladder
Put Ladder
Conversion/Reversal
Combo
Guts
Box
Jelly Roll
Call Condor
Min-mumprice(no. ofticks)
0
Strategy structure(buy perspective)
Buy Put, Sell Put at higher exercise price, sell Put at equally higher exercise price, buy Put at again equally higher exerciseprice
Example
OESX PCONDDEC17 2800 –2900 – 3000 –3100
Stra t - egyshortcode
PCOND
Strategylongname
Put Condor
Volatility Strategies*
* All volatility strategies are designed to be delta neutral.
** Option Quantity Unit = 100; Option Quantity Unit forODAX based strategies is 250. In general, Option Quantityreflects contract specifications of the respective equity option; in the case of fixed income options, each volatilitystrategy unit encompasses 100 options. Futures QuantityUnit can be defined on strategy creation between 1 and 100.
Min-mumprice(no. ofticks)
1
1
0
0
0
Strategy structure(buy perspective)
Buy Call, sell Underlying
Buy Put, buy Underlying
Buy Call, sell two Calls at higher exerciseprice, buy Call at higher exercise price, buy Underlying
Buy Call, sell two Calls at higher exerciseprice, buy Call at higher exercise price, sell Underlying
Buy Put, sell two Puts at higher exerciseprice, buy Put at higher exercise price, buy Underlying
Example**
OESX 100 CSEP17 3000 versus 17 FESXSEP17 @ 2851
OESX 100 PSEP17 2500 versus 47 FESXSEP17 @ 2571
OESX CBUTSEP17 2800 –2900 – 3000 versus 17 FESXSEP17 @ 2850
OESX CBUTSEP17 2800 –2900 – 3000 versus 17 FESXSEP17 @ 2850
OESX PBUTSEP17 2300 –2400 – 2500 versus 17 FESXSEP17 @ 2850
Stra t - egyshortcode
CALL-U
PUT+U
CBUT+U
CBUT-U
PBUT+U
Strategylong name
CallVolatilityTrade
PutVolatilityTrade
CallButterflyversus LongUnderlying
CallButterflyversus ShortUnderlying
Put Butterflyversus LongUnderlying
227 226
Min-mumprice(no. ofticks)
0
2
2
2
2
0
0
Strategy structure(buy perspective)
Buy Put, sell two Puts at higher exercise price, buy Put at higher exercise price, sell Underlying
Buy Call, buy Put atsame exercise price, buy Underlying
Buy Call, buy Put atsame exercise price, sell Underlying
Buy Put, buy Call at higher exercise price, buy Underlying
Buy Put, buy Call at higher exercise price, sell Underlying
Buy Call, sell Call at higher exercise price, sell Underlying
Buy Put, sell Put at lower exercise price, buy Underlying
Buy Call, sell Call at higher exercise price, sell Put at any exerciseprice, sell Underlying
Buy Put, sell Put at lower exercise price, sell Call at any exercise price, buy Underlying
Sell Call in near month, buy Call at same exercise price in far month, buy Underlying
Example**
OESX PBUTSEP17 2300 –2400 – 2500 versus 17 FESXSEP17 @ 2850
OESX 100 STDSEP17 2900 versus 11 FESXSEP17 @ 2751
OESX 100 STDSEP17 2900 versus 12 FESXSEP17 @ 2751
OESX 100 STGSEP17 2900 –3000 versus 9FESX SEP17 @2751
OESX 100 STGSEP17 2900 –3000 versus 7FESX SEP17 @2751
OESX 100 BULSEP17 2800 –2900 versus 24FESX SEP17 @2751
OESX 100 BERSEP17 3000 –2900 versus 22FESX SEP17 @2751
OESX 100 BULSEP17 2280 –2900 versus 100 P SEP172700 versus 54 FESX MAR17@ 2751
OESX 100 BERSEP17 3000 –2900 versus 100 C SEP173100 versus 54 FESX SEP17@ 2751
OESX 100 BLTJUN17 – SEP172900 versus 11FESX SEP17 @2751
Stra t - egyshortcode
PBUT-U
STD+U
STD-U
STG+U
STG-U
BUL-U
BER+U
BUL-P-U
BER-C+U
BLT+U
Strategylong name
Put Butterflyversus ShortUnderlying
StraddleversusLongUnderlying
StraddleversusShortUnderlying
Strangleversus LongUnderlying
Strangleversus ShortUnderlying
Call Spreadversus ShortUnderlying
Put Spreadversus LongUnderlying
Call SpreadversusShort Put/ShortUnderlying
Put SpreadversusShort Call/LongUnderlying
CallCalendarSpreadversus LongUnderlying
Min-mumprice(no. ofticks)
Strategy structure(buy perspective)
Sell Call in near month, buy Call at same exercise price in far month, sell Underlying
Sell Call near month, buy Call at differentexercise price in farmonth, buy Underlying
Sell Call near month, buy Call at differentexercise price in farmonth, sell Underlying
Sell Put in near month, buy Put at same exercise pricein far month, buy Underlying
Sell Put in near month, buy Put at same exercise price in far month, sell Underlying
Sell Put near month, buy Put at different exercise price in farmonth, buy Underlying
Sell Put near month, buy Put at different exercise price in farmonth, sell Underlying
Example**
OESX 100 BLTJUN17 – SEP173900 versus 12FESX SEP17 @2751
OESX CDIAJUN17 2900SEP17 3000 versus 11 FESX SEP17 @2751
OESX CDIAJUN17 2900SEP17 3000 versus 11 FESX SEP17 @2751
OESX 100 BRTJUN17 – SEP172900 versus 25FESX SEP17 @2751
OESX 100 BRTJUN17 – SEP172900 versus 25FESX SEP17 @2751
OESX PDIAJUN17 3000SEP17 2900 versus 25 FESX SEP17 @2751
OESX PDIAJUN17 3000SEP17 2900 versus 25 FESX SEP17 @2751
Stra t - egyshortcode
BLT-U
CDIA+U
CDIA-U
BRT+U
BRT-U
PDIA+U
PDIA-U
Strategylong name
CallCalendarSpreadversus ShortUnderlying
CallDiagonalCalendarSpread versus LongUnderlying
CallDiagonalCalendarSpread versus ShortUnderlying
PutCalendarSpreadversus LongUnderlying
PutCalendarSpreadversus ShortUnderlying
PutDiagonalCalendarSpread versus LongUnderlying
PutDiagonalCalendarSpread versus ShortUnderlying
** Option Quantity Unit = 100; Option Quantity Unit forODAX based strategies is 250. In general, Option Quantityreflects contract specifications of the respective equity option; in the case of fixed income options, each volatilitystrategy unit encompasses 100 options. Futures QuantityUnit can be defined on strategy creation between 1 and 100.
229 228
Min-mumprice(no. ofticks)
0
0
0
0
Strategy structure(buy perspective)
Buy Call, sell Call at higher exercise price, sell Call at equally higher exercise price, buy Underlying
Buy Call, sell Call at higher exercise price, sell Call at equally higher exercise price, sell Underlying
Sell Put, sell Put at higher exercise price, buy Put at equally higher exercise price, buy Underlying
Sell Put, sell Put at higher exercise price, buy Put at equally higher exercise price, sell Underlying
Buy Call, Sell Call at higher exercise price, sell Call at equally higher exercise price, buy Call at again equally higher exerciseprice, buy Underlying
Buy Call, Sell Call at higher exercise price, sell Call at equally higher exercise price, buy Call at again equally higher exerciseprice, sell Underlying
Buy Put, Sell Put at higher exercise price, sell Put at equally higher exercise price, buy Put at again equally higher exerciseprice, buy Underlying
Buy Put, Sell Put at higher exercise price, sell Put at equally higher exercise price, buy Put at again equally higher exerciseprice, sell Underlying
Example**
OESX 100 CLADSEP17 2800 –2900 – 3000 versus 19 FESXSEP17 @ 2751
OESX 100 CLADSEP17 2800 –2900 – 3000 versus 11 FESXSEP17 @ 2751
OESX 100 PLADSEP17 2800 –2900 – 3000 versus 50 FESXSEP17 @ 2751
OESX 100 PLADSEP17 2800 –2900 – 3000 versus 35 FESXSEP17 @ 2751
OESX CCONDSEP17 2800 –2900 – 3000 –3100 versus 15 FESX SEP17@ 2751
OESX CCONDSEP17 2800 –2900 – 3000 –3100 versus 25 FESX SEP17@ 2751
OESX PCONDSEP17 2800 –2900 – 3000 –3100 versus 35 FESX SEP17@ 2751
OESX PCONDSEP17 2800 –2900 – 3000 –3100 versus 45 FESX SEP17@ 2751
Stra t - egyshortcode
CLAD+U
CLAD-U
PLAD+U
PLAD-U
CCOND+U
CCOND-U
PCOND+U
PCOND-U
Strategylong name
Call Ladderversus LongUnderlying
Call Ladderversus ShortUnderlying
Put Ladderversus LongUnderlying
Put Ladderversus ShortUnderlying
Call Condorversus LongUnderlying
Call Condorversus ShortUnderlying
Put Condorversus LongUnderlying
Put Condorversus ShortUnderlying
Min-mumprice(no. ofticks)
Strategy structure(buy perspective)
Sell Call, buy Put atlower exercise price, buy Underlying
Sell Call, buy two Calls at higher exercise price, buy underlying
Sell Call, buy two Calls at higher exercise price, sellUnderlying
Sell Put, buy twoPuts at lowerexercise price, buy Underlying
Sell Put, buy two Puts at lower exercise price, sell Underlying
Buy Call, sell Put at same exercise price, sell Underlying
Example**
OESX 100COMBO SEP17 2900 –2800 versus 80FESX SEP17 @2871
OESX 100/200RBUL SEP172900 – 3000versus 17 FESXSEP17 @ 2853
OESX 100/200RBUL SEP172800 – 2900versus 15 FESXSEP17 @ 2867
OESX 100/200RBER SEP172900 – 2800versus 5 FESXSEP17 @ 2898
OESX 100/200RBER SEP172900 – 3000versus 15 FESXSEP17 @ 2953
OESX 100 CNVSEP17 2900 versus 19 FESXSEP17 @ 3153
Stra t - egyshortcode
COMBO+U
RBUL+U
RBUL-U
RBER+U
RBER-U
CNV-U
Strategylong name
Comboversus LongUnderlying
2x1 RatioCall Spreadversus LongUnderlying
2x1 RatioCall Spreadversus ShortUnderlying
2x1 RatioPut Spreadversus LongUnderlying
2x1 RatioPut Spreadversus ShortUnderlying
Conversionversus ShortUnderlying
** Option Quantity Unit = 100; Option Quantity Unit forODAX based strategies is 250. In general, Option Quantityreflects contract specifications of the respective equity option; in the case of fixed income options, each volatilitystrategy unit encompasses 100 options. Futures QuantityUnit can be defined on strategy creation between 1 and 100.
231 230
The following products are available for tradingdirectly via terminals located in the U.S.:
Trading in the U.S.
Prod-uct ID
FGBS
FGBM
FGBL
FGBX
FBTS,FBTM,FBTP
FOAM,FOAT
FBON
CONF
OGBS
OGBM
OGBL
OOAT
FEO1
FEU3
FLIC
Prod-uct ID
FESX
FEXF
FESQ
FEDV
FXXE
FLCE
FMCE
FSCE
FSTX
FXXP
FSTB
FSTG
FSTI
FSTM
FSTV
FSTU
FLCP
FMCP
FSCP
FGDV
FDAX®
FDXM
F2MX
FTDX
FSMM
FSLI
FMAU
FMCN
FMHK
FMIN
Contract
LDX IRS Constant Maturity Futures
Equity Index Derivatives
EURO STOXX 50® Index Futures
EURO STOXX 50® ex Financials Index Futures
EURO STOXX 50® Index Quanto Futures
EURO STOXX® Select Dividend 30 Index Futures
EURO STOXX® Index Futures
EURO STOXX® Large Index Futures
EURO STOXX® Mid Index Futures
EURO STOXX® Small Index Futures
STOXX Europe 50® Index Futures
STOXX® Europe 600 Index Futures
STOXX® Europe 600 Banks Futures
STOXX® Europe 600 Industrial Goods & Services Futures
STOXX® Europe 600 Insurance Futures
STOXX® Europe 600 Media Futures
STOXX® Europe 600 Travel & Leisure Futures
STOXX® Europe 600 Utilities Futures
STOXX® Europe Large 200 Index Futures
STOXX® Europe Mid 200 Index Futures
STOXX® Europe Small 200 Index Futures
STOXX® Global Select Dividend 100 Index Futures
DAX® Futures
Mini-DAX® Futures
MDAX® Futures
TecDAX® Futures
SMIM® Futures
SLI Swiss Leader Index® Futures
MSCI Australia Index Futures
MSCI China Free Index Futures
MSCI Hong Kong Index Futures
MSCI India Index Futures
Contract
Interest Rate Derivatives
Fixed Income Derivatives – Futures
Euro-Schatz Futures
Euro-Bobl Futures
Euro-Bund Futures
Euro-Buxl® Futures
Euro-BTP Futures
Euro-OAT Futures
Euro-BONO Futures
CONF Futures
Fixed Income Derivatives – Options
Options on Euro-Schatz Futures
Options on Euro-Bobl Futures
Options on Euro-Bund Futures
Weekly Options on Euro-Bund Futures
Options on Euro-OAT Futures
Money Market Derivatives – Futures
EONIA Futures
Three-Month EURIBOR Futures
EUR Secured Funding Futures
Money Market Derivatives – Options
Options on Three-Month EURIBOR Futures
233 232
Prod-uct ID
FMID
FMJG
FMJP
FMMY
FMMX
FMZA
FMTH
FMUK
FMUS
FMAS
FMAC
FMEA
FMEE
FMEN
FMEM
FMEL
FMEF
FMEG
FMEU
FMED
FMEP
FMEV
FMFM
FMKG
FMKN
FMPX
FMWN
FMWO
FMWM
FMWP
All Eurex products currently available for trading directly via terminals located in the U.S. can be found on our website underwww.eurexchange.com > Products > Eurex Derivatives in the U.S.For up to date information regarding the direct trading of products in the U.S. please also visit our circulars.
Contract
Equity Index Derivatives
MSCI Indonesia Index Futures
MSCI Japan GTR-Index Futures
MSCI Japan Index Futures
MSCI Malaysia Index Futures
MSCI Mexico Index Futures
MSCI South Africa Index Futures
MSCI Thailand Index Futures
MSCI UK Index Futures
MSCI USA Index Futures
MSCI AC Asia Pacific ex Japan Index Futures
MSCI ACWI Index Futures
MSCI Emerging Markets Asia Index Futures
MSCI Emerging Markets EMEA Index Futures
MSCI Emerging Markets Index Futures (EUR)
MSCI Emerging Markets Index Futures
MSCI Emerging Markets Latin America Index Futures
MSCI Emerging Markets Price Index Futures
MSCI Europe Growth Index Futures
MSCI Europe Index Futures
MSCI Europe Index Futures
MSCI Europe Price Index Futures
MSCI Europe Value Index Futures
MSCI Frontier Markets Index Futures
MSCI Kokusai Index Futures (USD, GTR)
MSCI Kokusai Index Futures (USD, NTR)
MSCI Pacific ex Japan Index Futures
MSCI World Index Futures (EUR)
MSCI World Index Futures
MSCI World Midcap Index Futures
MSCI World Price Index Futures
Prod-uct ID
FT25
FTX
FEXD
FCEU
FCEF
FCEP
FCPU
FCPF
FCUF
FVS
EVAR
Contract
Equity Index Derivatives
TA-25 Index Futures
Eurex Daily Futures on Mini-KOSPI 200 Futures
Daily Futures on TAIEX-Futures
Dividend Derivatives
EURO STOXX 50® Index Dividend Futures
FX Derivatives
EUR/USD Futures
EUR/CHF Futures
EUR/GBP Futures
GBP/USD Futures
GBP/CHF Futures
USD/CHF Futures
Volatility Derivatives
VSTOXX® Futures
EURO STOXX 50® Variance Futures
Property Derivatives
IPD® UK Quarterly Index Futures
234
Historical DataT +49-69-211-118 00 F +49-69-211-145 01
Capital Markets AcademyT +49-69-211-137 67 F +49-69-211-137 63
PublicationsT +49-69-211-11510 F +49-69-211-11511
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Clearing T +49-69-211-112 50
FurtherInformation
© Eurex 2017Deutsche Börse AG (DBAG), Clearstream Banking AG (Clearstream), Eurex Frankfurt AG, Eurex Clearing AG(Eurex Clearing) as well as Eurex Bonds GmbH (Eurex Bonds) and Eurex Repo GmbH (Eurex Repo) arecorporate entities and are registered under German law. Eurex Zürich AG is a corporate entity and is registeredunder Swiss law. Clearstream Banking S.A. is a corporate entity and is registered under Luxembourg law.U.S. Exchange Holdings, Inc. is a corporate entity and is registered under U.S. American law. DeutscheBoerse Asia Holding Pte. Ltd., Eurex Clearing Asia Pte. Ltd. and Eurex Exchange Asia Pte. Ltd are corporateentities and are registered under Singapore law. Eurex Frankfurt AG (Eurex) is the administrating andoperating institution of Eurex Deutschland. Eurex Deutschland and Eurex Zürich AG are in the followingreferred to as the “Eurex Exchanges”.
All intellectual property, proprietary and other rights and interests in this publication and the subject matterhereof (other than certain trademarks and service marks listed below) are owned by DBAG and its affiliatesand subsidiaries including, without limitation, all patent, registered design, copyright, trademark and servicemark rights. While reasonable care has been taken in the preparation of this publication to provide detailsthat are accurate and not misleading at the time of publication DBAG, Clearstream, Eurex, Eurex Clearing,Eurex Bonds, Eurex Repo as well as the Eurex Exchanges and their respective servants and agents (a) donot make any representations or warranties regarding the information contained herein, whether expressor implied, including without limitation any implied warranty of merchantability or fitness for a particularpurpose or any warranty with respect to the accuracy, correctness, quality, completeness or timeliness ofsuch information, and (b) shall not be responsible or liable for any third party’s use of any information con-tained herein under any circumstances, including, without limitation, in connection with actual trading orotherwise or for any errors or omissions contained in this publication.
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© Eurex, January 2017
Published byEurex Frankfurt AGMergenthalerallee 6165760 EschbornGermany
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Order NumberE2E-192-0117
ARBN NumberEurex Frankfurt AG ARBN 100 999 764