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27 Oct 2025

Eurex

T7 Release 14.0: Introduction of a new Service Fee for SMP Functionality

Eurex Circular 095/25 T7 Release 14.0: Introduction of a new Service Fee for SMP Functionality

1. Introduction 

The Executive Boards of Eurex Frankfurt AG and Eurex Clearing AG decided to introduce a new fixed Service Fee for the Self-Match Prevention functionality (SMP) and to amend the Price List of Eurex Clearing AG accordingly, effective as of 1 December 2025.​

2. Required action 

Trading Participants are advised to review their internal processes and/or technical interfaces to ensure readiness for the processing of the fixed Service Fee for SMP events.

3. Details of the initiative 

A.    Current SMP Functionality:

Under the current "Netting" model, both sides of a prevented trade are reduced by the same quantity and are subject to the applicable order book/account fees. These transactions are currently eligible for Liquidity Providers and Volume Rebates.

B.    New SMP Functionality:

With the upcoming T7 Release 14.0 in November 2025, Eurex will introduce a redesigned SMP model offering three deletion instructions:

  • Cancel Aggressive and Passive (Netting, existing model)
  • Cancel Passive
  • Cancel Aggressive

In line with this enhancement, a new fixed Service Fee will be introduced with the following key elements:

  • A fixed Service Fee per contract and currency will apply only to deleted resting (passive) quantities; incoming (aggressive) quantities will not be charged,
  • The fee applies exclusively to proprietary accounts (P and M); agent account transactions are excluded,

The new Service Fee will not be eligible for rebates.

The fee will be charged per currency as detailed in the following table:

Currency

Fee per Contract

AUD​

AUD 0.20​

CAD​

CAD 0.15​

CHF​

CHF 0.10​

DKK​

DKK 0.75​

EUR​

EUR 0.10​

GBP​

GBP 0.10​

JPY​

JPY 15.00​

NOK​

NOK 1.00​

NZD​

NZD 0.20​

SEK​

SEK 1.00​

USD​

USD 0.10​

In conjunction with the introduction of the new fixed Service Fee, the previous order book/account fee applied to SMP events under the “Netting” model will be discontinued.
 

Attachment: 

  • Amended sections of the Price List of Eurex Clearing AG

Further information

Recipients: 

All Trading Participants of Eurex Deutschland, Liquidity Providers and Vendors

Target groups: 

Front Office/Trading, Middle + Backoffice, IT/System Administration

Related circular: 

Eurex Circular 039/25

Contact: 

eurex.pricing@eurex.com

Web: 

Support > Initiatives & Releases > T7 Release 14.0

Authorized by: 

Matthias Graulich  


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