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Eurex
1. Introduction
Eurex Deutschland (Eurex) has decided to discontinue the publication of its eligible foreign security futures product (FSFP) list on the Eurex website, effective as of 31 December 2023. At the same time, Eurex is pleased to announce that it has entered into a partnership with FIA Tech regarding the provision of an alternative solution for interested and eligible U.S. parties that wish to trade and monitor eligible FSFPs, including Eurex FSFPs, also effective as of 31 December 2023.
Effective date: 31 December 2023
2. Required action
All Eurex Trading Participants that are eligible to trade eligible FSFPs for U.S. accounts must comply with the terms of Eurex Circular 105/21, the 2009 SEC Order, the CFTC’s 2010 Staff Advisory, and the Commodity Exchange Act.
3. Details
In Eurex Circular 105/21, Eurex announced its offering of eligible FSFPs for Eurex Trading Participants that wished to trade Eurex eligible FSFPs for eligible U.S. accounts, subject to the terms of the circular, the 2009 SEC Order, the CFTC’s 2010 Staff Advisory, and the Commodity Exchange Act. Specifically, the 2009 SEC Order sets forth a primary trading market test with which FSFPs must comply to be eligible for trading for U.S. accounts. As provided in Eurex Circular 105/21, Eurex has been providing a public list of its FSFPs that it has believed comply with the terms of the above regulations, including the primary trading market test, on the Eurex website www.eurex.com under the path:
Rules & Regs > Eurex derivatives in the U.S. > Eligible foreign security futures under 2009 SEC Order and Commodity Exchange Act
Eurex has made the decision to cease publication of its eligible FSFP list on its website and is pleased to announce a partnership agreement with FIA Tech regarding the provision of a solution for the monitoring of eligible FSFPs for continued compliance with the 2009 SEC Order’s primary trading market test. Under this agreement, Eurex customers and prospective customers will be entitled to receive from Eurex a once-per-calendar-year list of eligible Eurex FSFPs, which will be derived from FIA Tech’s eligibility metrics.
Eurex notes that the withdrawal of its public eligible FSFP list does not change the requirements set forth in Eurex Circular 105/21, including the Regulation D requirements that all Eurex Trading Participants intending to trade Eurex FSFPs for U.S. accounts must execute the sign-up form attached to that circular as well as comply with Eurex’s quarterly confirmation process.
Eurex additionally notes that, with the withdrawal of its public eligible FSFP list, Eurex will not be publishing circulars in the future regarding FSFP transitions between Eligible and Ineligible, as it has done for SMI® Futures, for example, in the past.
U.S. Persons should consult with their legal and other advisors if they have questions about whether they may trade FSFPs listed on Eurex and regarding FSFP transitions between Eligible and Ineligible. Any eligible U.S. customer wishing to trade FSFPs should consult with their eligible intermediary.
Further information
Recipients: | All Trading Participants of Eurex Deutschland and Vendors | |
Target group: | Front Office/Trading, Middle + Backoffice, IT/System Administration, Auditing/Security Coordination | |
Related circular: | Eurex Circular 105/21 | |
Contact: | client.services@eurex.com or Rachna Mathur, rachna.mathur@eurex.com, | |
Web: | www.eurex.com | |
Authorized by: | Randolf Roth |
Market Status ⓘ
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