A member of
Eurex
1. Introduction
The Executive Boards of Eurex Frankfurt AG and Eurex Clearing AG took the following decision with effect from 1 January 2025:
The Executive Board of Eurex Frankfurt AG took the following decision with effect from 1 January 2025:
The Executive Board of Eurex Clearing AG decided with effect from 1 January 2025:
2. Required action
Liquidity Providers should adapt their quotation behavior accordingly.
3. Details of the initiative
A. Product Specific Supplement (PSS) “Fixed Income 17 – Three-Month Euribor Futures and Three-Month Euro STR Futures”
The amendments primarily focus on the additional incentive component based on the open interest in Three-Month Euro STR Futures initially introduced on 1 July 2024 which will be extended for the month of January 2025, as described in section 4.1 of the PSS ‘Fixed Income 17 - Three-Month Euribor Futures and Three-Month Euro STR Futures’, as of 1 January 2025 with updated parameters.
B. Temporary fee waiver for services under the Connection Agreement
All Trading Participants, who qualify under the participation condition according to Sec 4.1. of the PSS “Fixed Income 17 – Three-Month Euribor Futures and Three-Month Euro STR Futures” - as amended from time to time - will not be charged, as of 1 January 2025, for their first Full High-Frequency ETI Sessions for each of the products (Three-Month Euribor Futures (Product ID: FEU3) and Three-Month Euro STR Futures (Product ID: FST3)) for the month in which the participation condition was fulfilled. The amendments shall be deemed approved unless objected to Eurex Frankfurt AG and Eurex Clearing AG within a period of two weeks after notification of this circular pursuant to Number 4 (2) of the Liquidity Provider Agreement.
This session fee waiver for “FEU3” and “FST3” is valid until 31 December 2025. Eurex Frankfurt AG shall have the right to terminate or adjust this incentive at any time with a one-month notice.
This is an extension to an existing session fee waiver agreement expiring on the 31 December 2024. Please refer to Eurex Circular 078/24 for further details.
C. Temporary transaction fee waiver for M-, P-, and A- account transactions
Starting on 1 January 2025, Eurex Clearing AG will suspend the fees for M-, P-, and A-account transactions in Futures contracts on Three-Month Euribor (Product ID: FEU3), Three-Month Euro STR (Product ID: FST3), Options on the Three-Month Euribor Futures (Product ID: OEU3) and One- to Four-Year Euribor Mid-Curve Options Contracts (Product ID: OEM1-4) pursuant to Number 3.1 of the Price List of Eurex Clearing AG.
This fee waiver will be effective from 1 January 2025 until 31 March 2025 for P- and A-account transactions. This fee waiver will be effective from 1 January 2025 until 30 June 2025 for M-account transactions.
The amendment will be deemed to have been approved if Liquidity Provider does not lodge objections with Eurex Frankfurt and Eurex Clearing within two (2) weeks of notification of the amendment.
The current versions of the PSS documents are also available in PDF format on the Eurex website www.eurex.com under the following path:
Trade > Market-Making and Liquidity provisioning
Attachment:
Further information
Recipients: | All Trading Participants of Eurex Deutschland and Vendors | |
Target group(s): | Front Office/Trading, Middle + Backoffice, IT/System Administration, Auditing/Security Coordination | |
Contact: | Market Development & Pricing, eurex.pricing@eurex.com | |
Web: | ||
Authorized by: | Randolf Roth |
Market Status ⓘ
XEUR
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