A member of
Eurex
1. Introduction
The Management Board of Eurex Deutschland took the following decision with effect from 15 December 2025:
This circular contains all information on the introduction of the new products and the updated sections of the relevant Rules and Regulations of Eurex Deutschland.
Production start: 15 December 2025
2. Required action
There is no action required for participation in the introduction of ECB Dated Euro STR (€STR) Futures Contracts (product ID: FEMP).
3. Details of the initiative
Introduction of ECB Dated Euro STR (€STR) Futures Contracts (product ID: FEMP)
The ECB Dated Euro STR (€STR) Futures are Futures on the compounded Euro STR (€STR) rate, with the compounding period starting on the first day, and ending on the last day of the ECB reserve maintenance period. The ECB defines the start date of the reserve maintenance period and the last date of the reserve maintenance period and can amend these periods. In the event of such an amendment, the first and last accrual dates of the respective future with open interest will not change. The first and last accrual dates of the respective future without open interest shall be amended as published by the ECB.
A. Contract specifications and product parameters
Product | Product ID | Currency | Product ISIN | Underlying ISIN |
ECB Dated Euro STR (€STR) Futures | FEMP | EUR | DE000A4AP364 | EU000A2X2A25 |
For the detailed contract specifications, please see Attachments 1 and 2.
The full version of the updated Contract Specifications for Futures Contracts and Options Contracts at Eurex Deutschland will be published on the Eurex website www.eurex.com as of start of trading under:
B. Admission to the T7 Entry Services (TES)
The new products will be admitted to the T7 Entry Services (TES). You can find the minimum block trade sizes on product level in the attached Contract Specifications in Attachment 1.
An overview of the 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 T7 Entry Services is available on the Eurex website under the link:
T7 Entry Service parameters
C. Risk parameters
As of start of trading, risk parameters of the new products will be published on the Eurex website under the link:
Risk parameters and initial margins
and on the Eurex Clearing website www.eurex.com/ec-en/ under the following path: Risk parameters
You will also find an updated list with details regarding Prisma-eligible Eurex products under this path.
D. Excessive System Usage Fee and Order-to-Trade Ratio
The Excessive System Usage Fee and the Order-to-Trade Ratio for the new products are determined in line with the existing products. For detailed information, please refer to the Eurex website under the following links:
Excessive System Usage Fee
Order-to-Trade Ratio
E. Mistrade parameters
Mistrade ranges for the new products will be published as of start of trading on the Eurex website under the link:
Product Overview
F. Transaction fees
For the transaction fees for the new products, please refer to the Price List of Eurex Clearing AG on the Eurex Clearing website www.eurex.com/ec-en/ under the link:
Price List
G. Vendor codes
At start of trading, vendor codes for the new products will be published on the Eurex website under the link:
Attachments:
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: | client.services@eurex.com | |
Web: | ||
Authorized by: | Matthias Graulich |
Market Status ⓘ
XEUR
The market status window is an indication regarding the current technical availability of the trading system. It indicates whether news board messages regarding current technical issues of the trading system have been published or will be published shortly.
Please find further information about incident handling in the Emergency Playbook published on the Eurex webpage under Support --> Emergencies and safeguards. Detailed information about incident communication, market re-opening procedures and best practices for order and trade reconciliation can be found in the chapters 4.2, 4.3 and 4.5, respectively. Concrete information for the respective incident will be published during the incident via newsboard message.
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