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1. Introduction
The Management Board of Eurex Deutschland took the following decisions with effect from Monday, 20 October 2025:
Production start: Monday, 20 October 2025
This circular contains all information on the trading-related updates as stated above and the updated sections of the relevant Rules and Regulations of Eurex Deutschland.
2. Required action
Participants are recommended to completely analyze the potential impact in their internal systems and procedures of the above changes.
3. Details
Background
Equity Total Return Futures (ETRFs) and Basket trades of Equity Total Return Futures (BTRFs) are designed to replicate the performance of the total returns of a basket of underlying equities and used for equity financing and related trading.
Periodic changes are required to adjust the Bucket in which individual ETRFs are allocated to reflect generally accepted collateral schedules in equity financing due to inclusion in or deletion from certain benchmark indices and/or significant changes in market capitalization of the underling reference equity. Only ETRFs which are allocated to the selected predefined Buckets may be introduced to BTRFs whether a new trade or subsequent trading operation.
Simultaneously there will be introduction of additional Profiles which are designed to reflect certain terms and limitations used in association with BTRFs, namely:
Additionally to support automation of operational workflows, each Profile and related Bucket(s) are now designated as being in relation to a specific currency (EUR, GBX or CHF currently).
Contract Specifications
For the updated sections of the Contract Specifications for Futures Contracts and Options Contracts at Eurex Deutschland (Contract Specifications), please see the Attachment.
The complete version of the updated Contract Specifications can be found on the Eurex website www.eurex.com under the following path:
Rules & Regs > Eurex Rules & Regulations > 03. Contract Specifications
Attachment:
Recipients: | All Trading Participants of Eurex Deutschland and Vendors | |
Target groups: | Front Office/Trading, Middle + Backoffice, IT/System Administration, Auditing/Security Coordination | |
Contact: | Stuart Heath, Derivatives Products and Markets, tel. +44-207-862-72 53, stuart.heath@eurex.com, | |
Web: | ||
Authorized by: | Matthias Graulich |
Market Status ⓘ
XEUR
The market status window is an indication regarding the current technical availability of the trading system. It indicates whether news board messages regarding current technical issues of the trading system have been published or will be published shortly.
Please find further information about incident handling in the Emergency Playbook published on the Eurex webpage under Support --> Emergencies and safeguards. Detailed information about incident communication, market re-opening procedures and best practices for order and trade reconciliation can be found in the chapters 4.2, 4.3 and 4.5, respectively. Concrete information for the respective incident will be published during the incident via newsboard message.
We strongly recommend not to take any decisions based on the indications in the market status window but to always check the production news board for comprehensive information on an incident.
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