Eurex08e

Price List of Eurex Clearing AG ‘As of 05.02.2024

Page 2

3.3 Position Closing Adjustments
[1
Product / Product Group Account | Fee per Contract
L.-J
Index Dividend Derivatives
C.J
° A
STOXX® Europe 600 Sector
Index Dividend Futures P EUR 2.40
M
ion: yn n Index Dividend Ft ni
7 A
Mid-Curve Options on EURO STOXX 50!
Index Dividend Futures e EUR 1.20
M
L.]
L.]
3.7 Exercise of Options
Ll
Product / Product Group Accounts Fee per Contract
Led
Index Dividend Derivatives
[ol
° A
EURO STOXX® Banks
Index Dividend Options P EUR 0.60
M
Options Contracts on Index Dividend Futures Contracts
Mid-Curve Options on EURO STOXX 50® A EUR 0.60

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Attachment 1 to Eurex Clearing Circular 094/23.

3. Details of the initiative
A. Product overview

Please refer to the table below for the overview of the new products.

Name Underlying ISIN Currency Eurex Product Product Group
of Product __ Future” ID ISIN
One Year EURO Mid-Curve
a DEOOOAOV8MNO :

ISTOXX® 50 Dividend| FEXD EUR | OED1 | DEOO0A3EXNO3| Options on Index

Mid-Curve Options Dividend Futures
Two Year EURO Mid-Curve
a DEOOOAOV8MNO :

ISTOXX® 50 Dividend| FEXD EUR | OED2 | DE0O0A3EXN11| Options on Index
Mid-Curve Options Dividend Futures
Three Year EURO Mid-Curve

DEOOOAOV8MNO

ISTOXX® 50 Dividend FEXD EUR | OED3 | DE000A3EXN29} Options on Index

Mid-Curve Options Dividend Futures
Four Year EURO Mid-Curve
DEOOOAOV8MNO

ISTOXX® 50 Dividend| FEXD EUR | OED4 | DEOOOA3EXN37| Options on Index

Mid-Curve Options Dividend Futures
Five Year EURO Mid-Curve
» en Divi DEOOOAOV8MNO N

ISTOXX® 50 Dividend| FEXD EUR | OEDS5 | DEOOOA3EXN45| Options on Index

Mid-Curve Options Dividend Futures

“Technically the set up follows the same logic as done for the Mid-Curve Options on Money Market Index Futures.

C, Product group

Please refer to the table below for the product group of the new products.

Product Regulatory Settlement Product Product Product Capacity

group ___ status type type _segment _currency _ name
One/Two/Three/Four/Five4 Mid-Curve |Not approved] Derivative | OFIX | Index EUR Cash
Year EURO STOXX® 50 |Options on] for trading in EUR
Dividend Mid-Curve Index the U.S.
Options Dividend
Futures

Public


Chapter II of the Clearing Conditions of Eurex Clearing AG

Transactions Concluded at
Eurex Deutschland

(Eurex Exchange)

As of 15.01.2024

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Price List of Eurex Clearing AG

Eurex08e
As of 05.02.2024
Page 3

Product / Product Group Accounts Fee per Contract
Index Dividend Futures Pp
M
Led
3.8 Assignment of Options
Lo]
Product / Product Group Account Fee per Contract

Index Dividend Derivatives

Options Contracts on Index Dividend Futures Contracts

Mid-Curve Options on EURO STOXX 50®

Index Dividend Futures

A

iz |r

EUR 0.60

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Eurex04e
As of 05.02.2024
Page 3

Clearing Conditions of Eurex Clearing AG

3.15.5 Futures Contract Position

(1) Unless otherwise provided below, the provisions of Numbers 2.9 and 2.1.4 shall
apply for the Futures Contract position opened in accordance with Number 3.8.4.

(2) The provisions of Number 1.2 and 2.1.2 on the determination of STM Variation
Margin for the day at which the Futures Contract position is opened shall not apply.
Instead, the determination shall be based on the difference between the exercise
price of the exercised and assigned option and the daily settlement price of the
underlying Futures Contract on the exercise day. Such difference shall be settled in
cash by a credit or debit to the internal cash account pursuant to Chapter | Part 4
Number 4.3 of the Clearing Member.

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18 Dec 2023

Dividend Derivatives:
Introduction of Mid Curve
Options on EURO STOXX
50® Index Dividend Futures

Eurex Clearing Circular 094/23 Dividend Derivatives: Introduction of Mid
Curve Options on EURO STOXX 50® Index Dividend Futures
1. Introduction

Effective 5 February 2024, Eurex Clearing AG will offer clearing services for
Mid Curve Options on EURO STOXX 50® Index Dividend Futures introduced at
Eurex Deutschland.

In this context, the following measures will apply effective 5 February 2024:

Amendments to the Clearing Conditions of Eurex Clearing AG (Clearing
Conditions) and to the Price List of Eurex Clearing AG (Price List)
regarding the introduction of Mid Curve Options on EURO STOXX 50®
Index Dividend Futures.

Please refer to Eurex circular 112/23 for detailed trading-related information,
including fee classification and the related amendments to the Rules and
Regulations of Eurex Deutschland.

Simulation start: 14 December 2023
Production start: 5 February 2024

2. Required action
There is no action required for participation.

3. Details of the initiative


Eurex04e

Clearing Conditions of Eurex Clearing AG

As of 15.01.2024
Page 2

2.6.2

Final Settlement Price
LJ

For VSTOXX® Futures Contracts (product ID: FVS), the average value of all index
calculations of the VSTOXX® between 11:30 and 12:00 CE(S)T on the last trading day
applies.

For VSTOXX® Futures Contracts (product ID: FVS) that are admitted to trading after
15 January 2024, the average value of all index calculations of the VSTOXX® between
11:00 and 12:00 CE(S)T on the last trading day applies.

of the EURO STOXX-50* Realized D Jad the-Jastirading abl
P g-day
Led
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Eurex04e

Clearing Conditions of Eurex Clearing AG
As of 15.01.2024

Page 1

AMENDMENTS ARE MARKED AS FOLLOWS:

INSERTIONS ARE UNDERLINED;

DELETIONS ARE CROSED OUT

Part 2 Clearing of Futures Contracts

[Lo]

24 General Provisions
[Le]

2.1.2 Daily Settlement Price
Led

(4) Reference times

The scheduled reference times for the determination of the daily settlement prices
for the respective Futures Contracts (each a “Reference Time’) are set out in the

table below:
Contract Reference Time
(CE(S)T)
[el
EURO-STOXX50-Dispersion Futures Contracts. 44:30
tJ
L.-J
[J
2.6 Clearing of Volatility Index Futures Contracts
L.]
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Eurex08e

Price List of Eurex Clearing AG As of 05.02.2024

Page 1

AMENDMENTS ARE MARKED AS FOLLOWS:
INSERTIONS ARE UNDERLINED;

DELETIONS ARE CROSSED OUT

3 Transaction Fees for Derivatives Transactions (Order Book Transactions and
Off-Book Transactions on the Eurex Exchange)

[1

341 Matching / Registration of Derivatives Transactions

[.]

LJ
Index Dividend Options
Ll
ov A 0.60 na. na.
ler
oe P 0.60 na. na.
M 0.60 A na,
EURO STOXX® Bank: E A 060 ui nea
anks rex
Index Dividend Options | EUR EnLight P 0.60 n. na.
M 0.60 a. na.
A 0.60 n na.
TES P 0.60 a. na.
M 0.60 na. na.
Options Contracts on Index Dividend Futures Contracts
A 0.60
Order 2 0.60
Mid-Curve Options on book 7 0.60 0
EURO STOXX 50° Index | EUR i — :
FT A 0.60 na. na
jividend Fut. Eurex
EnLight 2 0.60 na.
M 0.60 na.
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Price List of Eurex Clearing AG

Eurex08e

As of 15.01.2024

Page 2

3.4

Product / Product Group

Account | Fee per Contract

Volatility Index Derivatives

EURO -STOXX 50" Realized Dispersion Index
doses

A Pi Se
Rg EUR240
M EUR 240

Cash Settlement

(1) The following fees are charged for cash settlement of the products listed below:

Maximum Fee for

Product / Product Group Acco Fee per Contract | Contracts on the
same underlying
tl
Volatility Index Derivatives
Ll
A EUR440 aa
EURO-STOXX-50° Realized Dispersion
= PR EUR420 ae
M EUR420 aa

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15 Dec 2023

Volatility Derivatives: Change
in Final Settlement Price
calculation in VSTOXX®
Futures and delisting of
Futures on Euro Stoxx 50®
Realized Dispersion Index

Eurex Clearing Circular 093/23 Volatility Derivatives: Change in Final
Settlement Price calculation in VSTOXX® Futures and delisting of Futures
on Euro Stoxx 50® Realized Dispersion Index

1. Introduction

This circular contains information with respect to Eurex Clearing’s service
offering and corresponding amendments to the Clearing Conditions of Eurex
Clearing AG (Clearing Conditions) and Price List of Eurex Clearing AG (Price
List) regarding to the following topics:

Termination of Clearing in Futures on Euro Stoxx 50® Realized
Dispersion Index (Product ID: FESD)

Extension of calculation period of the Final Settlement Price in Futures
on VSTOXX® Index (Product ID: FVS) from the period between 11:30 AM
to 12:00 PM CE(S)T to the period between 11:00 AM to 12:00 PM CE(S)T
on Final Settlement Day. This change affects all contracts that are listed
after 15 January 2024.

The amendments will become effective as of 15 January 2024.


framework of Eurex Clearing AG within the first 10 Business Days after the
publication of the amendments. Eurex Clearing AG shall assess whether these
comments prevent the published amendments from becoming effective
taking into account the interests of Eurex Clearing AG and all contractual
parties.

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:

1. Regarding 3. Details: A. Product overview: Tables
2. Amended Sections of the Clearing Conditions of Eurex Clearing AG
3. Amended Sections of the Price List of Eurex Clearing AG

Further information

Recipients: All Clearing Members, ISA Direct Clearing Members, Disclosed
Direct Clients of Eurex Clearing AG, vendors, all FCM Clearing
Members and other affected contractual parties

Target Front Office/Trading, Middle + Backoffice, IT/System
groups: Administration, Auditing/Security Coordination
Related Eurex Circular 112/23

circular:

Contact: client.services@eurex.com

Web: www.eurex.com/ec-en/

Authorized Jens Janka

by:

Attachment 1 to Eurex Clearing circular 094/23

Attachment 2 to Eurex Clearing circular 094/23


A. Product overview

Please refer to the table in Attachment 1 for the overview of the new products.
B. Contract specifications

For the detailed contract specifications, please refer to Eurex Circular 112/23.
C. Product group

Please refer to the table in Attachment 1 for the product group of the new
products.

D. Transaction fees

The transaction and maintenance fees for the new products can be retrieved
from the updated sections of the Price List, as outlined in Attachment 3.

E. Risk parameters

Margins for the new products are calculated in Prisma. For the risk parameters
of the new product, please refer to the Eurex Clearing website
www.eurex.com/ec-en/ under the following link:

Services > Risk parameters

F. Amendments to the legal framework of Eurex Clearing AG

To reflect this decision in the legal framework of Eurex Clearing AG, the
following provisions will be amended as outlined in Attachment 1 and 2:

Chapter II Part 2 Number 3.15 of the Clearing Conditions of Eurex
Clearing AG
Numbers 3.1, 3.3, 3.7, 3,8 of the Price List of Eurex Clearing AG

As of the effective date, the full versions of the amended Clearing Conditions
and Price List will be available for download on the Eurex Clearing website
under the following link:

Rules & Regs > Eurex Clearing Rules and Regulations

The amendments to the legal framework of Eurex Clearing AG published by
this circular are deemed accepted by each affected contractual party of Eurex
Clearing AG, unless the respective contractual party objects by written notice
to Eurex Clearing AG prior to the relevant effective date(s) as stipulated in this
circular. In case of an objection by the respective contractual party pursuant
the preceding sentence, Eurex Clearing AG is entitled to terminate the
respective contract (including a Clearing Agreement, if applicable). Instead of
submitting an objection, the respective contractual party may submit in
writing to Eurex Clearing AG comments to any amendments of the legal


Eurex08e

Price List of Eurex Clearing AG As of 15.01.2024

Page 1

AMENDMENTS ARE MARKED AS FOLLOWS:
INSERTIONS ARE UNDERLINED;

DELETIONS ARE CROSSED OUT

3 Transaction Fees for Derivatives Transactions (Order Book Transactions and
Off-Book Transactions on the Eurex Exchange)

[.]

34 Matching / Registration of Derivatives Transactions

L.]

LJ
Volatility Index Derivatives
Volatility Index Futures

A 4.40 Bee Pdr
Ordo BR 420 = =
M 4.20 aa nea
EURO STOXX.50*
A 240 = =
Realized Dispersion tndex | Eup Eurex PR 480 Prér Aros
Futures 8 M 480 = =
A 240 = =
TES BR 480 Brae =
M 480 = =
Ll
[el
3.3 Position Closing Adjustments

(1) For Position Closing Adjustments, if these do not take place until 13:30 CET on the
trading day following the day of the transaction, the following fees shall be charged:

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Chapter II of the Clearing Conditions of Eurex Clearing AG

Transactions Concluded at
Eurex Deutschland

(Eurex Exchange)

As of 05.02.2024

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Eurex04e
As of 05.02.2024

Clearing Conditions of Eurex Clearing AG

Page 2

3.15.2 Option Premium

(1)_The balance of the option premiums (net premium) to be paid by the Clearing
Member or Eurex Clearing AG, as applicable, during the duration of the option
position pursuant to Number 2.15.4 of the Eurex Contract Specifications shall be
STM Variation Margin. Part 2 Number 2.1.2 (1) shall apply mutatis mutandis,

(2) Part 3 Number 3.1 (7) shall apply on the balance of the final option premiums (net
premium) to be paid by the Clearing Member or Eurex Clearing AG, as applicable.
upon exercise of the option position or expiration of the option position, as
applicable, pursuant to Number 2.15.4 of the Eurex Contract Specifications.

3.15.3 Margin Requirements prior to Exercise

(1)_The following conditions shall apply in addition to the relevant general provisions on
margin requirements set out in Chapter |:

(2) For all options series, the Initial Margin shall apply.

3.15.4 Procedure for Exercise of Options

(1) On behalf of the relevant Clearing Member that exercises a call option, Eurex
Clearing AG shall, subsequent to the post-trading period on the exercise day of the
respective Options Contract, open a corresponding long position in the underlying
Futures Contract with the stipulated exercise price with respect to such Clearing
Member and book it to the Transaction Account to which the call option was booked.

(2) On behalf of the relevant Clearing Member to which the exercise of a call option is
assigned, Eurex Clearing AG shall, subsequent to the post-trading period on the
exercise day of the respective Options Contract, open a corresponding short position
in the underlying Futures Contract with the stipulated exercise price with respect to
such Clearing Member and book it to the Transaction Account to which the call
option was booked.

(3) On behalf of the relevant Clearing Member that exercises a put option, Eurex
Clearing AG shall, subsequent to the post-trading period on the exercise day of such
Options Contract, open a corresponding short position in the underlying Futures
Contract with the stipulated exercise price with respect to such Clearing Member and
book it to the Transaction Account to which the put option was booked.

(4) On behalf of the relevant Clearing Member to which the exercise of a put option is
assigned, Eurex Clearing AG shall, subsequent to the post-trading period on the
exercise day of the respective Options Contract, open a corresponding long position
in the underlying Futures Contract with the stipulated exercise price with respect to
such Clearing Member and book it to the Transaction Account to which the put
option was booked.

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comments prevent the published amendments from becoming effective
taking into account the interests of Eurex Clearing AG and all contractual
parties.

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, as applicable.

Attachments:

1 - Amended sections of the Clearing Conditions of Eurex Clearing AG
2 - Amended sections of the Price List of Eurex Clearing AG

Further information

Recipients: All Clearing Members, ISA Direct Clearing Members, Disclosed
Direct Clients of Eurex Clearing AG, vendors, all FCM Clearing
Members and other affected contractual parties

Target Front Office/Trading, Middle + Back Office, IT/System
groups: Administration, Auditing/Security Coordination
Related Eurex Circular 110/23

circular:

Contact: client.services@eurex.com

Web: www.eurex.com/ec-en/

Authorized Jens Janka

by:

Attachment 1 to Eurex Clearing circular 093/23

Attachment 2 to Eurex Clearing circular 093/23

A member of


Please refer to Eurex Circular 110/23 for detailed trading-related information
and the related amendments to the Rules and Regulations of Eurex
Deutschland.

2. Required action
There is no specific action required for participation.

3. Details of the initiative

Clearing in Futures on Euro Stoxx 50® Realized Dispersion Index (product ID
FESD) will no longer be supported from 15 January 2024.

The Final Settlement Price in VSTOXX® Futures is the Time Weighted Average
Price (TWAP) of all index calculations in the VSTOXX® Index between 11:30 AM
and 12:00 PM CE(S)T. With the change in the Clearing Conditions, the
calculation period of the Final Settlement Price is extended from 30 to 60
minutes. The Final Settlement Price in VSTOXX® Futures will be changed to the
Time Weighted Average Price (TWAP) of all index calculations in the

VSTOXX® Index between 11:00 AM and 12:00 PM CE(S)T.

The extended calculation period applies to all contracts that are listed after 15
January 2024.

Amendments to the legal framework of Eurex Clearing AG

To reflect this decision in the legal framework of Eurex Clearing AG, the
following provisions will be amended as outlined in Attachments 1 and 2:

Chapter II Part 2 Numbers 2.1.2 and 2.6.2 of the Clearing Conditions
Numbers 3.1, 3.3, 3.4 of the Price List

As of the effective date, the full versions of the amended Clearing Conditions
and Price List will be available for download on the Eurex Clearing website
under the following link:

Rules & Regs > Eurex Clearing Rules and Regulations

The amendments to the legal framework of Eurex Clearing AG published by
this circular are deemed accepted by each affected contractual party of Eurex
Clearing AG, unless the respective contractual party objects by written notice
to Eurex Clearing AG prior to the relevant effective date(s) as stipulated in this
circular. In case of an objection by the respective contractual party pursuant
the preceding sentence, Eurex Clearing AG is entitled to terminate the
respective contract (including a Clearing Agreement, if applicable). Instead of
submitting an objection, the respective contractual party may submit in
writing to Eurex Clearing AG comments to any amendments of the legal
framework of Eurex Clearing AG within the first 10 Business Days after the
publication of the amendments. Eurex Clearing AG shall assess whether these


Attachment 3 to Eurex Clearing circular 094/23

A member of

Eurex Eurex Clearing Eurex Repo EEX 360T Xetra Boérse Frankfurt
Clearstream Qontigo

Disclaimer Privacy notice Imprint Eurex Clearing Rules & Regulations Sitemap


Eurex04e
As of 05.02.2024

Clearing Conditions of Eurex Clearing AG

Page 1

AMENDMENTS ARE MARKED AS FOLLOWS:
INSERTIONS ARE UNDERLINED;

DELETIONS ARE CROSED OUT

Part 3 Clearing of Options Contracts
[ol

3.1 General Provisions

= The underlying reference price for Options on FX Futures Contracts is the daily
settlement price of the corresponding FX Futures Contracts series.

=__The underlying reference price is the daily settlement price of the Futures
Contracts underlying the options series for options on Index Dividend Futures

Contracts.
Ll
[J
3.15, Clearing of Options Contracts on Index Dividend Futures Contracts
The following provisions shall apply to the Clearing of Options Contracts on Index
Dividend Futures Contracts specified in Number 2.15 of the Eurex Contract
Specifications.
3.15.1 General Regulations

The Clearing of Options Contracts on Index Dividend Futures Contracts is subject to the
following rules up to the assignment of the exercised option pursuant to the regulations
for the Clearing of Options Contracts, in line with the opening of the futures position
pursuant to the regulations for the Clearing of Futures Contracts.

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