We help members to rectify erroneous open/close transaction designations.
That is why members can perform

• Transaction closing adjustments:
  Change incorrect open/close designations on the same trading day that transactions have been executed. Under certain conditions historical open/close adjustments can also be made on the two consecutive business days after the transaction has been executed.
  

• Position closing adjustments:
  Carrying out a position closing adjustment reduces the open long and short position equally.
  

In the case that positions have already been closed out, under certain conditions members can apply to reopen positions.

Position closing adjustments

Via the Position Overview screen an open position can be adjusted by using the provided close out functionality. This will equally reduce the long and the short side of the position.

A distinction is made in the Eurex® system between cost-free and fee-liable position closing adjustments.

• Cost free position closing adjustments:
  • Close out of option positions (with the exceptions of options based on futures)
    
  • Close out of futures and future based options within the Zero Cost Quantity range
    
• Fee liable position closing adjustments:
  • Futures and future based options exceeding the Zero Cost Quantity
    

Zero Cost Quantity (ZCQ)

The Zero Cost Quantity is the potential number of contracts that can be closed out without late closing fees being charged.

• For transactions done on the actual trading day (t), the Zero Cost Quantity is valid from 13:30 CET on t until 13:30 CET on t +1. From 13:30 CET until end of day on the trading day it is called Current ZCQ and is calculated the following way:
  
  Current Zero Cost Quantity =
  transactions to open
  + transactions booked to open after transaction closing error
  + take-ups to open
  + transactions booked to open after take-up closing error
  +/- transaction account transfers for transactions to open
  + transactions to open adjustments
  - transaction to close adjustments
  - current give-ups which were taken up
  - position closing adjustments
  

• From start of the day on t +1 until 13:30 CET the ZCQ is called Previous ZCQ and is calculated the following way:
  
  Previous Zero Cost Quantity =
  Remaining ZCQ from previous day if > 0, else 0
  transactions to open
  - historical give-ups which were taken up
  - historical transaction transfers* of transactions of the previous business day
  + futures positions created after exercise of options on futures
  + historical take ups
  - position closing adjustments
  

Within the position closing adjustment window the current and previous zero cost quantity is shown. If the member requires to close out more contracts than available within the zero cost quantity, an additional window pops up asking for confirmation.

* Only Historical Transactions Transfers (HiTT) on t+1 are considered.