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22 Aug 2024

Eurex

Euro-Fixed-Income Futures: Adjustment of the obligations for performance for the delivery of Euro-Fixed-Income futures contracts on debt securities of the Republic of Italy

Eurex Circular 083/24 Euro-Fixed-Income Futures: Adjustment of the obligations for performance for the delivery of Euro-Fixed-Income futures contracts on debt securities of the Republic of Italy

1. Introduction

The Management Board of Eurex Deutschland took the following decision with effect from 1 September 2024:

  • Amendment of the Contract Specifications for Futures Contracts and Options Contacts at Eurex Deutschland for Euro-Fixed-Income futures contracts on debt securities of the Republic of Italy

Debt securities of the Republic of Italy that are explicitly issued as “BTP Green” shall not be deliverable under Short term Euro-BTP-Futures Contracts, Mid term Euro-BTP-Futures Contracts and Euro-BTP-Futures Contracts.

Production start: 1 September 2024, effective for the March 2025 expiry and beyond

This circular contains all information on the updated sections of the relevant Rules and Regulations of Eurex Deutschland.

2. Required action

There is no action required for participation.

3. Details

Since 2021, Ministero dell’Economia e delle Finanze (MEF) Dipartimento del Tesoro, Italy issues BTP Green bonds, sustainable finance government bonds designed to support the country’s ecological transition. Due to their commitment to dedicated projects and buy-and-hold transactions by international investors, the liquidity in these bonds is limited compared to standard BTP bonds.

Due to those restrictions and according to consultation with MEF, the BTP Green bonds, similar to BTP Valore and BTP Futura bonds, will not be included in the deliverable baskets of Euro-BTP-Futures, Short- and Medium Euro-BTP-Futures to ensure an orderly delivery process.

Attachment:

  • Amended sections of the Contract Specifications for Futures Contracts and Options Contracts at Eurex Deutschland


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: 

jutta.frey-hartenberger@eurex.comvassily.pascalis@eurex.com

Web: 

www.eurex.com

Authorized by: 

Randolf Roth


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