Service Navigation

Equity Index Derivatives: Introduction of futures on the STOXX® USA 500 ESG-X Index

Release date: 13 Jan 2020 | Eurex Clearing

No. 005/2020 Equity Index Derivatives: Introduction of futures on the STOXX® USA 500 ESG-X Index

Eurex Clearing Circular 005/20

1. Introduction

Eurex Clearing AG (Eurex Clearing) previously announced with circular 115/19 the planned launch of futures contracts on the STOXX® USA 500 ESG-X at Eurex Deutschland. With this circular, Eurex Clearing confirms that the clearing for the respective products will commence as of 10 February 2020.

Effective 10 February 2020, Eurex Clearing will offer clearing services for futures on the STOXX® USA 500 ESG-X Index introduced at Eurex Deutschland. 

In this context, the following measures will apply effective 10 February 2020:

  • The amendments to the Clearing Conditions of Eurex Clearing AG (Clearing Conditions) regarding the inclusion of STOXX® USA 500 ESG-X Index futures contracts, 
  • The amendments to the Price List of Eurex Clearing AG (Price List) regarding the inclusion of STOXX® USA 500 ESG-X Index futures contracts. 

To reflect the amendments, the following provisions will be amended as outlined in Attachments 2
and 3:

  • Chapter II Part 2 Number 2.4.2 of the Clearing Conditions,
  • Chapter II Part 4 Number 4.2.3 of the Clearing Conditions,
  • Numbers 3.1, 3.3, 3.4 of the Price List.

Please refer to Eurex circular 004/20 for detailed trading-related information as well as the amendments of the relevant rules and regulations of Eurex Deutschland.

2. Required action

Following the new product assignment logic, as introduced with C7 Release 6.0 on 18 November 2019, the futures on the STOXX® USA 500 ESG-X Index will, per default, be allowed for trading and clearing for all Market Participants.

However, in case a DC Market Participant or the Clearing Member itself should not be able to trade the product, Clearing Members must take action and adjust the product setting in the C7 Clearing System accordingly.

The futures on the STOXX® USA 500 ESG-X Index will be part of the capacity “Cash USD”.
 

3. Details of the initiative

A. General parameters of the new product
B. Contract specifications

C. Product group

For A. - C., please refer to Attachment 1.

D. Transaction fees

Please refer to Attachment 3 for the updated sections of the Price List.

E. Risk parameters

Margins for the new product are calculated in Prisma. For the risk parameters of the new products, please refer to the Eurex Clearing website under the link:

F. Trading hours

Please refer to Attachment 1 for the trading hours.
 

As of the effective date, the full version of the amended Clearing Conditions and Price List will be available for download on the Eurex Clearing website www.eurexclearing.com under the following link:

The changes and amendments to the legal framework of Eurex Clearing AG published by this circular are deemed accepted by each affected contractual party of Eurex Clearing AG, unless the respective contractual party objects by written notice to Eurex Clearing AG within the first ten (10) Business Days after publication. Any ordinary right of Eurex Clearing AG to terminate the respective contract (including a Clearing Agreement, if applicable) shall remain unaffected.

Unless the context requires otherwise, terms used and not otherwise defined in this circular shall have the meaning ascribed to them in the Clearing Conditions or FCM Clearing Conditions of Eurex Clearing AG, as applicable.

Attachments:

  • 1 – General parameters, contract specifications, product group and trading hours of the new product
  • 2 – Amended sections of the Clearing Conditions of Eurex Clearing AG
  • 3 – Amended sections of the Price List of Eurex Clearing AG

Further information

Recipients:

All Clearing Members, FCM Clearing Members, Basic Clearing Members, Disclosed Direct Clients of Eurex Clearing AG, vendors and other affected contractual parties

Target groups:

Front Office/Trading, Middle + Back Office, IT/System Administration, Auditing/Security

Contact:

client.services@eurexclearing.com

Related circulars:

Eurex Clearing circular 115/19, Eurex circulars 119/19 and 004/20

Authorised by:Dmitrij Senko