Contract standard

Contract values, price quotation and minimum price change

Settlement

Cash settlement, payable on the first exchange day following the final settlement day.

Contract months

Standard:The five nearest successive annual contracts of the December cycle (from the first exchange day after the last trading day of the calendar year up to the final settlement day of the following calendar year) are available for trading at any time.

FEXD:The ten nearest successive annual contracts of the December cycle (from the first exchange day after the last trading day of the calendar year up to the final settlement day of the following calendar year) are available for trading at any time.

Last trading day and final settlement day

Last trading day is the third Friday of each December maturity month if this is an exchange day; otherwise the exchange day immediately preceding that day. Close of trading in the maturing futures on the last trading day is at 12:00 CET, for SMI® Dividend Futures at 9:00 CET and for MSCI Index Dividend Futures at 22:00 CET. Final settlement day is the last trading day, for MSCI Index Dividend Futures the exchange day immediately following the last trading day.

Daily settlement price

The daily settlement price is derived from the volume-weighted average of the prices of all transactions during the minute before 17:30 CET (reference point), provided that more than five trades transacted within this period.

Further details are available in the clearing conditions.

Final settlement price

The final settlement price is established by Eurex on the final settlement day at 12:00 CET based on the final value of the underlying index for the relevant contract period. Determining is the cumulative total of the relevant gross dividends of the constituents of the underlying index.

STOXX Ltd., Deutsche Börse AG, SIX Swiss Exchange as well as MSCI Inc. shall thereby define, according to their regulations, which dividends are to be included in the calculation of the index. Furthermore, the index provider shall define the amount of the dividend to be considered, the point of consideration of the dividend payment and the conversion of the dividends in index points.

Admitted to the Eurex Block Trade Service with a Minimum Block Trade Size of 50 contracts.

3% for expirations 1-3;
5% for expirations 4-5

50 contracts on the bid and ask side.

The minimum quote duration is 80 percent of the trading hours between 09:00 and 17:30 CET (on a monthly average). The first five contract months have to be quoted.

In Fast Market, the minimum quote size is reduced by 50 percent.

A deviation from the reference price shall be deemed significant if the price of the mistrade transaction deviates from the reference price by more than the higher value between the mistrade range floor or 20 percent of the PCP for the corresponding futures contract, unless another regulation has been made for an individual product.

The floor value for the mistrade range will be determined on a product level as the higher value between 10 percent of the corresponding outright futures mistrade range calculated using the price change percentile methodology and an absolute value of four ticks.