Extension of trading and clearing hours for additional selected benchmark futures

1. Introduction

Eurex Deutschland and Eurex Clearing AG are planning to extend its trading and clearing hours for additional selected Equity and Volatility Index Futures and Fixed Income Futures as of 7 December 2020.

This circular is to confirm the trading and clearing hours and the products which are in scope for the extended trading hours. 

The amendments made for the initial extension of trading hours on 10 December 2018 for selected equity index and fixed income futures, as announced with Eurex Clearing circular 097/18, also will be applicable to the trading hours extension of additional selected benchmark futures on 7 December 2020.

All DC Market Participants and Clearing Members can participate during the extended service hours using their existing memberships and infrastructure.

Please refer to Eurex circular 084/20 for trading-related information as well as previous Eurex Clearing circulars 044/18, 063/18 and 097/18 for clearing-related information on the introduction of Eurex extended trading hours.

Production start: 7 December 2020

2.    Required action

Clearing Members need to ensure that they can timely fulfil an intraday margin call during the extended service hours upon request.

3. Details of the initiative

The following products are in scope for the extended trading and clearing hours on 7 December 2020:

Equity Index Futures:

• FESB – EURO STOXX^® Banks Futures 
• FXXP – STOXX^® Europe 600 Index Futures 
• FVS – VSTOXX^® Futures 

Fixed Income Futures:

• FOAT – French Euro-OAT Futures (10 year) 

The extended trading and clearing hours for the respective futures will be as follows: Trading will start with a Pre-Trading phase of ten minutes, followed by an Opening Auction, before Continuous Trading.

• Pre-Trading / Start of clearing: 08:00 SGT / 01:00 CET / 02:00 CEST
• Pre-Opening: 08:10 SGT / 01:10 CET / 02:10 CEST
• Continuous Trading: 08:15 SGT / 01:15 CET / 02:15 CEST
• Closing: 05:00 SGT / 22:00 CET extended for Fixed Income product (FOAT), unchanged for equity and volatility index products (FESB, FXXP and FVS)
• End of clearing: 22:30 CET

Please refer to the tables in the attachment for an overview of the extension of Equity Index Products trading hours for covered Futures, and for the harmonisation of Fixed Income Futures trading hours for covered Futures.

Please note that no report changes are envisaged.

We would like to remind Clearing Members about the already announced Pre-Trade Risk Limits functionality in T7 that will supplement the already existing Advanced Risk Protection functionality. Both functionalities can be used in parallel. 

All information about the trading hours extension can also be found on the Eurex website www.eurex.com under the following link: 

Trade > Trading hours > Trading Hours Extension

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:

• Details of the initiative: Tables

Further information