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Equity index derivatives: Introduction of futures on MSCI ESG Screened Indexes (World, USA, EM, EAFE, Japan)

Release date: 27 Jan 2020 | Eurex Exchange

006/2020 Equity index derivatives: Introduction of futures on MSCI ESG Screened Indexes (World, USA, EM, EAFE, Japan)

Eurex Circular 006/20

1. Introduction

The Management Board of Eurex Deutschland took the following decisions with effect from 
2 March 2020:

  • Introduction of futures on the
         - MSCI World ESG Screened Index
         - MSCI USA ESG Screened Index
         - MSCI EM ESG Screened Index
         - MSCI EAFE ESG Screened Index
         - MSCI Japan ESG Screened Index
  • Introduction of a Liquidity Provider Scheme for the new products.

Production start: 2 March 2020

2. Required action

There is no required action for participation.

3. Details of the initiative

A.  Product overview

For the product overview, please refer to Attachment 1.

B.  Contract specifications

Please find an overview in table format in Attachment 1.

For the detailed Contract Specifications, please see Attachment 2.

C.  Trading hours

For the trading hours, please refer to Attachment 1. 

D.  Trading calendar

Futures on MSCI indices are available on each trading day at Eurex Deutschland. The exact trading days can be found from the start of trading in the trading calendar published on the Eurex website under the link:

E.  Product group

The product group for the new products can be found in Attachment 1.

F.  Liquidity Provider Scheme

Effective 2 March 2020, a Liquidity Provider (LP) Scheme for the new MSCI ESG Screened Futures, "Product Specific Supplement 51 for Futures on MSCI ESG Indices”, will be introduced. 

The quotation parameters as per Attachment 1 will apply. All further information can be found in the attached PSS document (Attachment 3).

G.  Excessive System Usage Fee and Order to Trade Ratio

The Excessive System Usage Fee and the Order to Trade Ratio are determined in line with the existing Equity Index Derivatives (FINX). For further information, please refer to the Eurex website under the following links:  

H.  Mistrade parameters

Mistrade ranges for the new index futures will be available for download on the Eurex website as of start of trading under the following link: 

At start of trading, vendor codes for the new products will be published on the Eurex website under the link:

J.  Transaction fees and rebates

Details can be found in the current Price List of Eurex Clearing AG which is available for download on the Eurex website under the following link:

K.  Admission to the Eurex T7 Entry Services (TES)

An overview of the Eurex T7 Entry Services available for the products as well as detailed information on single product basis with regard to availability, possibility of utilisation and minimum entry size for the various Eurex T7 Entry Services is available on the Eurex website under the following link:

The new futures on the MSCI ESG Screened indices will be admitted to the TES with the parameters stated in Attachment 1.

L.  Risk parameters

As of start of trading, risk parameters of the new products will be published on the Eurex website under the link:

and on the Eurex Clearing website www.eurexclearing.com under the following path:

There, you will also find an updated list with details regarding Prisma-eligible Eurex products.
 

Attachments:

  • 1 – Details regarding product overview, contract specifications, trading hours product group, LP scheme, Eurex T7 Entry Services 
  • 2 – Updated sections of the Contract Specifications for Futures Contracts and Options Contracts at Eurex Deutschland
  • 3 – Product Specific Supplement (PSS) to the Liquidity Provider Scheme for MSCI ESG Futures


Further information

Recipients:All Trading Participants of Eurex Deutschland and Vendors
Target groups:Front Office/Trading, Middle + Backoffice, IT/System Administration, Auditing/Security Coordination
Contact:Product R&D Equity and Index, Christine Heyde, T +49-69-211-1 56 98, christine.heyde@eurexchange.com
Authorised by:Michael Peters
 

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