clear to trade 

Christopher Kirkpatrick 

Secretary 

Commodity Futures Trading Commission 

1155 21st Street NW 

Three Lafayette Centre 

Washington, DC 20581 

March 23, 2016 

Re: Submission of Swaps for the Commission's Mandatory Clearing Determination 

Dear Mr. Kirkpatrick, 

Eurex Clearing AG ("Eurex Clearing"), a derivatives clearing organization ("DCO") 

registered with the Commodity Futures Trading Commission (the "Commission" or "CFTC"), is 

submitting the following contracts (the "Contracts") for the Commission's mandatory clearing 

determination under Commission Regulation 39.5(b): 

Interest Rate Swaps: 

Products: 

Single currency interest rate swaps ("IRS") 

Forward rate agreements ("FRA") 

Overnight index swap ("OIS") 

Single currency basis swaps 

Zero coupon swaps 

Spot and forward starts 

Compounding - flat and straight (for IRS and basis swaps) 

Linear interpolation of stub periods 

Front and back stubs (for IRS and OIS) 

Negative interest rates 

Variable notional - amortizing and roller coaster (for IRS and basis swaps) 

Variable index spread on floating rates that can differ period per period (IRS and basis swaps) 

Fixed coupon rates that can differ period per period (IRS and basis swaps) 

IMM - International Monetary Markets - roll dates 

Currencies: 

Euro, U.S. dollar, British pounds, Swiss franc, and Japanese yen 

Terms: 

Swaps entered into under ISDA® 2000/2006 and German Master Agreements - standard swaps 

and forward rate agreement with standard day count and business day conventions, fee legs, 

constant nationals, front or back stubs and floating rate indexes for each currency. 

EGr•• c leatln a 

Eurex Clearing AG 

Mergenthalerallee 61 

65760 Eschborn 

Mailing address: 

60485 Frankfurt/Main 

T 312-544-1067 

F 312-544-1001 

er!c,selnsheimer@ 

eurexchange.com 

Internet: 

www.eurexdearing.com 

Chairman of the 

Supervisory Board: 

Hugo Banziger 

Executive Board: 

Helke Eckert (Deputy CEO), 

Matthias Graullch, 

Thomas Laux, 

Erik Tim MOiier 

Aktlengesellschaft mil 

Sitz In Frankfurt/Main 

HRB Nr. 44628 

USl·ldNr. DE194621553 

Amtsgerichl 

Frankfurt/Main 
Sunlllllhwl types ,. - ... Tvoe Cunencies Matu.rilv Other charaaterisdes .I 

IRS EUR, GBP, USO Up to 50 years Plain vanilla (flxed/lloat) ISOA, German framework 

Basis/tenor (ftoatllloat) Constant notionals 

CHF, JPY Up to 30 years Front. end stubs, lo/ward starts 

EUR (Euribor) and GBP (Libor), 1 m, 3m, 6m, 12m 

OIS EUR, GBP, USO, Up to 30 years Plain vanlRa (fixed/lloat) USO, CHF and JPY (u'bor) 1m, 3m, Sm 

CHF,JPY Zero Coupon 

Variable notional - amortizing & roller coaster 

FRA EUR, GBP, USO, Up to 2years Plain vanilla (fixed/ftoat) Negative interest rates 

CHF, JPY IMM roll dates 

Variable spreads & fixed coupons 

Compounding 

The Contracts were cleared by Eurex Clearing prior to its registration as a DCO with the 

Commission pursuant to the Commission's Order dated 1 February 2016 (the " OCO Order''). 

Under the DCO Order, Eurex Clearing will be authorized to provide clearing services for the swaps 

listed in the above table for U.S. Clearing Members as well as their customers under Section Sb of 

the Commodity Exchange Act after Eurex Clearing meets the CFTC's "straight-through processing" 

requirements. On 1 February 2016, in light of this delayed effectiveness, the CFTC extended 

previously provided relief to permit Eurex Clearing to continue to clear proprietary positions in 

interest rate swaps for U.S. Clearing Members. The Contracts are identical to those subject to this 

relief. 1 

Pursuant to Commission Regulation 39.5(a)(1), Eurex Clearing is eligible to clear the 

Contracts as Eurex Clearing was clearing the swaps at the time of its registration as a DCO. 

Required Information under Commission Regulation 39.5(b)(3) 

The existence of significant outstanding notional exposures, trading liquidity, and adequate 

pricing data 

As of 18 March 2016, Eurex Clearing had the following approximate notional outstanding 

by product and currency: 

Product EUR (bn) 

Swap 301.4 

OIS 15.1 

FRA 7.4 

BasisSwap 6.2 

Total 330.1 

1 See Attachment A, CFTC Letter No. 14-156, 

http://www. cftc. gov /idc/g roups/public/@lrletterqe nera I/documents/letter/ 14-156. pdf. 

2 
The following charts provide product breakdowns by currency as of 18 March 2016: 

Product EUR (bn) 

Swap 178.4 

OIS 13.6 

FRA 1.3 

BasisSwao 0.2 

Total 193.4 

Product EUR eaulvalent tbn\ 

Swap 119.6 

OIS 1.5 

FRA 6.1 

BasisSwao 5.9 

Total 133.1 

Product EUR eauivalent (bnl 

Swao 2.3 

OIS 0 

FRA 0 

BasisSwao 0 

Total 2.3 

Product EUR eauivalent (bn) 

Swap 0 

OIS 0 

FRA 0 

BasisSwao 0 

Total 0 

Product EUR eauivalent fbnl 

Swao 1.2 

OIS 0 

FRA 0 

BasisSwap 0.08 

Total 1.3 

Updated daily figures for the above notional exposures are provided daily at: 

http://www.eurexclearing.com/clearing-en/cleared-markets/eurex-otc-clear/interest-rateswaps/clearing-volume. 

In addition, settlement prices are provided at: http:/lwww.eurexclearing.com/clearing-en/clearedmarkets/eurex-otc-clear/interest-rate-swaps/settlement-prices. 

3 
The availability of rule framework, capacity, operational expertise and resources, and credit 

support infrastructure to clear the contract on terms that are consistent with the material 

terms and trading conventions on which the contract is then traded 

Eurex Clearing already has a well-developed rule framework and support infrastructure for 

clearing the Contracts. Eurex Clearing intends to leverage this existing operational capacity when 

clearing the Contracts on the DCO. Eurex Clearing ensures that it has the appropriate risk 

management, operations, and technology capabilities in place to ensure that it is able to liquidate 

positions in the Contracts in an order manner in the event of a default. The Contracts are subject to 

margin and clearing fund requirements set forth the Clearing Conditions of Eurex Clearing AG (the 

"Clearing Conditions"), which are available at: https://www.eurexclearinq.com/clearingen/resources/rules-and-regulations. 

The effect on mitigation of systemic risk, taking into account the size of the market for such 

contract and the resources of the DCO available to clear the contract 

The benefits of central clearing of the Contracts through Eurex Clearing are significant, 

including reduction of counterparty risk, margin and collateral efficiencies, client asset segregation, 

and legal certainty. With an overall collateral pool of EUR 51 billion, Eurex Clearing's stress-tested 

lines of defense, and with over 150 Clearing Members from 16 countries, Eurex Clearing has the 

necessary resources to clear the Contracts from a market size and resources perspective. 

The effect on competition, including appropriate fees and charges applied to clearing 

Eurex Clearing does not believe that its clearing of the Contracts will have a negative or 

material impact on the competition. The fee schedules for the Contracts are attached as Exhibit A. 

The existence of reasonable legal certainty in the event of the insolvency of the relevant 

DCO or one or more of its Clearing Members with regard to the treatment of customer and 

swap counterparty positions, funds and property 

Eurex Clearing observes the "Principles for financial market infrastructures· published by 

the Committee on Payment and Settlement Systems and International Organisation of Securities 

Commissions (the "PFMls"). In February 2015 Eurex Clearing published an assessment of its 

compliance with the PFMls, including the conclusion that it fully complies with the PFMls. This 

assessment and conclusion was reviewed and validated by KPMG as an independent outside 

auditor. This assessment is available at: 

http://www. eurexclearin g.com/blob/148684/58e6fe89e3f54ebe 169e530ac22 3 5b43/data/cpss-i oscopfrni assessment 2014 en.pdf. 

As part of this assessment, Eurex Clearing's default management procedures were 

assessed to be certain in the event of its or its Clearing Members' insolvency with regard to the 

treatment of customer and counterparty positions and collateral. 

Eurex Clearing also has previously provided a legal memorandum to the Commission on 

the ring-fenced treatment of cleared swaps customer collateral pursuant to Part 22 of the 

Commission's regulations. 

A potential insolvency of Eurex Clearing and the operation of default management 

procedures under the Clearing Conditions would be governed by German Law, except for certain 

Clearing Conditions that relate to cleared swaps customer collateral that are governed by U.S. 

federal laws. 

Further information CCFTC Regulation §39.5{b}(iii-viii) 

Product terms of the Contracts are market standard and follow the 2000 and 2006 ISDA 

Derivatives Definitions. 

4 
Participant eligible standards are the same as Eurex Clearing's general Clearing Member 

standards. 

There are no additional price sources required as prices are readily available from the price 

sources already used by Eurex Clearing. 

Eurex Clearing has a sound framework for the comprehensive management of all material 

risks. In this regard Eurex Clearing has established documented policies, procedures, and systems 

to identify, monitor, and manage such risks. 

The rules, policies, and procedures that apply to the clearing of the Contracts are set forth 

in the Clearing Conditions, which are publicly available at: https://www.eurexclearing.com/clearingen/resources/rules-and-regulations. Prior the DCO Order, Eurex Clearing made amendments to the 

Clearing Conditions in relation to the clearing of the Contracts through the DCO. Eurex Clearing 

notified Clearing Members of these amendments via circulars. 

Eurex Clearing plans to provide a circular to Clearing Members that attaches this 

submission and will provide Clearing Members with the opportunity to comment shortly. 

If you have any questions, please contact Eric Seinsheimer, US Compliance Officer, Eurex 

Clearing AG, at eric.seinsheimer@eurexchange.com or (312) 544-1087. 

Yours faithfully, 

US 

~ Compliance Officer, Eurex Clearing AG 

5 
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Page 1 

Preamble 5

Basic Principles .................................................................................................................................... 5

1. Fees for Clearing Licenses.............................................................................................. 5

2. [Cancelled] ........................................................................................................................ 6

3. Transaction Fees for Derivatives Transactions (Order Book 

Transactions and Off-Book-Transactions on the Eurex Exchanges) ......................... 6

3.1 Matching / Recording of Derivatives Transactions (Trade) ......................................... 6

3.1.1 Order Book Transactions.................................................................................................... 6

3.1.2 Off-Book Transactions......................................................................................................14

3.2 Rebates............................................................................................................................22

3.2.1 Market Making Rebates for Products without Market Making in Option 

Strategies..........................................................................................................................22

3.2.2 Market Making Rebates for Products with Market Making in Option 

Strategies..........................................................................................................................23

3.2.3 Volume Rebates ...............................................................................................................25

3.2.4 Rebates for Order Book Transactions in Money Market Futures Strategies ...................29

3.3 Position Closing Adjustments ......................................................................................29

3.4 Cash Settlement .............................................................................................................32

3.5 Determination of the Bonds / Swaps / currency to be delivered 

(Notification) ...................................................................................................................35

3.6 Allocation of the Bonds / Swaps / currency to be delivered (Allocation).................36

3.7 Exercise of Options........................................................................................................36

3.8 Assignment of Options..................................................................................................38

3.9 Delivery resulting from Futures ....................................................................................38

3.10 Position Transfer with Cash Transfer ..........................................................................38

3.11 Physical Delivery resulting from Derivatives Positions and 

Combination Transactions Option-Share ....................................................................39

3.11.1 Clearing Fees ...................................................................................................................39
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3.11.1.1 Physical Delivery from Derivatives Positions ...................................................................39

3.11.1.2 Physical Delivery from Combination Transactions Option-Share ....................................39

3.11.2 Fees for Delivery Management ........................................................................................39

3.11.3 Settlement Fees ...............................................................................................................40

3.12 Fees related to GMEX IRS Constant Maturity Futures ...............................................41

3.12.1 Maintenance Fees for GMEX IRS Constant Maturity Futures .........................................41

3.12.2 Fees for the CMF Market Integrity Process......................................................................42

3.13 Self-Match Prevention....................................................................................................43

4. Transaction Fees of Eurex Bonds GmbH ....................................................................43

4.1 Transaction Fees of Transactions regarding Danish Securities with 

Settlement in the Home Market Denmark (“Homemarket-Transactions”)................43

5. Transaction Fees of Eurex Repo GmbH.......................................................................44

6. Transaction Fees of the Frankfurt Stock Exchange (Frankfurter 

Wertpapierbörse, FWB)..................................................................................................44

6.1 Clearing Fees ..................................................................................................................45

6.1.1 Xetra transactions in Shares and Other Non-Fixed Income Securities............................45

6.1.2 Xetra Frankfurt Specialist transactions in Shares and Other Non-Fixed 

Income Securities .............................................................................................................47

6.2 Fees for Delivery Management .....................................................................................47

6.3 Settlement Fees ..............................................................................................................48

7. Transaction Fees Irish Stock Exchange (ISE) .............................................................49

8. Service Fees Eurex Deutschland and Eurex Zürich, Eurex Bonds 

GmbH, Eurex Repo GmbH, Frankfurt Stock Exchange (FWB) and 

Securities Lending Transactions..................................................................................50

8.1 Special Service Fees Eurex Deutschland and Eurex Zürich......................................50

8.1.1 Service Fees for Provision of Gross Delivery Management (without Netting 

Agreement) for Combination Transactions Option-Share................................................50

8.2 Special Service Fees Frankfurter Wertpapierbörse....................................................50

8.2.1 Service Fees for Provision of Gross Delivery Management.............................................50
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8.2.1.1 Gross Delivery Management without Netting Agreement (“Full Service”) for Transactions 

in Shares and Other Non-Fixed Income Securities..........................................................51

8.2.1.2 Gross Delivery Management with Netting Agreement (“Extended Net Service”) for 

Transactions in Shares and Other Non-Fixed Income Securities ....................................51

8.2.2 Service Fees for FWB Trading Participants not authorized to Clearing...........................52

8.2.3 Service Fees for Master Data Management.....................................................................52

8.3 General Service Fees .....................................................................................................53

8.3.1 Service Fees for Gross Delivery Management.................................................................53

8.3.2 Service Fees for Provision of Data via Online Requests .................................................53

8.3.3 Service Fees for Marking and Recording of Blocked Transactions .................................53

8.3.4 Service Fees for Provision of Reports..............................................................................54

8.3.5 Service Fees for Master Data Management.....................................................................55

9. Service Fees for Collaterals, Clearing Fund Contributions and Funds 

provided for the Fulfilment of Own Funds or equivalent Regulatory 

Capital Requirements.....................................................................................................55

9.1 Service Fees for Eligible Margin Assets in the Form of Cash ...................................55

9.2 Service Fees for Eligible Margin Assets in the Form of Securities...........................55

9.3 Service Fees for intra-day Exchange of Eligible Margin Assets ...............................56

9.4 Service Fees for Clearing Fund Contributions............................................................56

9.5 Service Fees for Funds provided for the Fulfilment of Own Funds or 

equivalent Regulatory Capital Requirements..............................................................56

10. Transaction Fees for OTC Interest Rate Derivative Transactions.............................57

10.1 Clearing Fees ..................................................................................................................57

10.2 Standard Pricing Model .................................................................................................57

10.2.1 Booking fee per OTC Interest Rate Derivative Transaction .............................................57

10.2.2 Rebate scheme on the OTC Interest Rate Derivative Booking Fee for 

Registered Customers......................................................................................................59

10.2.3 Maintenance fee ...............................................................................................................60

10.2.4 Rebate scheme on the maintenance fee for Registered Customers ...............................60

10.3 High Turnover Pricing Model for IRS, OIS and FRA of Registered 

Customers.......................................................................................................................61
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10.3.1 Booking fee.......................................................................................................................61

10.3.2 Maintenance fee ...............................................................................................................62

10.4 Change between the Standard Pricing Model and the High Turnover 

Pricing Model ..................................................................................................................62

10.5 Rebate Scheme for Clearing Members’ Own Accounts .............................................62

10.6 Fees for Post Trade Events ...........................................................................................63

10.6.1 Trade Netting Fees...........................................................................................................64

10.6.2 Multilateral Compression..................................................................................................64

11. Clearing Fees and Service Fees for Securities Lending Transactions.....................64

11.1 Clearing Fees ..................................................................................................................65

11.1.1 Transaction Fees ............................................................................................................65

11.1.2 Maintenance Fees...........................................................................................................65

11.2 Service Fees....................................................................................................................65

11.2.1 Service Fees for Cancellation of Securities Lending Transactions..........................66

11.2.2 Service Fees for the Calculation and Payment of Lending Fees and 

Rebates............................................................................................................................66

11.2.3 Service Fees for Re-rate of Lending Fees and Rebates.............................................66

11.2.4 Service Fees for Corporate Actions Processing.........................................................66

11.2.5 Service Fees for Dispute Resolution Procedure.........................................................67

Until and including 31 March 2016 no Service Fees pursuant to Number 15.1 of the 

Dispute Resolution Rules in connection with a Dispute Resolution 

Procedure in accordance with the Dispute Resolution Rules will be 

charged from the Lender Clearing Members or Borrower Clearing 

Members..........................................................................................................................67

The Service Fees applicable as of 1 April 2016 will be set out and published in time 

in this Price List for Eurex Clearing AG. ......................................................................67

12. Due Dates ........................................................................................................................67

13. Applicable Law and Place of Jurisdiction....................................................................68

14. Amendments and Supplements....................................................................................68
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Preamble 

On the basis of the Clearing Agreements concluded with the Clearing Members, NonClearing Members and Registered Customers, and the respective current version of the 

Clearing Conditions of Eurex Clearing AG (hereinafter referred to as “Clearing 

Conditions”) as well as of the Conditions for Utilization of the Eurex Trade Entry Services 

(“General Conditions for Participation”), the Price List sets forth the fees individually 

assessed by Eurex Clearing AG (ECAG) for the matters set forth below and provided for 

in aforementioned Conditions. 

Basic Principles 

The German version of the Price List in effect at the respective time is an integral part of 

the Clearing Conditions. 

1. Fees for Clearing Licenses 

(1) Pursuant to the provisions of Chapter I Part 1 Number 5.1 of the Clearing 

Conditions, ECAG shall charge its Clearing Members: 

a) for the granting of a clearing license and thus admission as a Clearing 

Member, a single admission fee in the amount of EUR 50,000, regardless of 

how many clearing licenses have already been granted to the respective 

Clearing Member; 

b) for one or more clearing licenses collectively an annual fee in the amount of 

EUR 25,000. 

(2) For the granting of Direct Clearing Licenses which entitle the respective Clearing 

Member to participate in the clearing of transactions concluded on Eurex Bonds 

GmbH (Chapter III Number 1.1 of the Clearing Conditions) or on Eurex Repo 

GmbH (Chapter IV Number 1.1 of the Clearing Conditions), ECAG shall not charge 

its Clearing Members a single admission fee in accordance with Number 1 

Paragraph 1 letter a) above nor an annual fee in accordance with Number 1 

Paragraph 1 letter b) above until this clause is revoked in writing. 

(3) For the granting of General Clearing Licenses or Direct Clearing Licenses which 

entitle the respective Clearing Member to participate in the clearing of Securities 

Lending Transactions (Chapter IX Number 1.1.1 and 1.1.2 of the Clearing 

Conditions), ECAG shall not charge its Clearing Members a single admission fee in 

accordance with Number 1 Paragraph 1 letter a) above, until this clause is revoked 

in writing. For such Clearing Licenses an annual fee in accordance with Number 1 
Eurex08e 

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Paragraph 1 letter b) above shall not be charged by ECAG as long as the 

respective Clearing Member does not hold any other Clearing License, until this 

clause is revoked in writing. 

(4) For the granting of Specific Lender Licenses pursuant to Chapter IX Number 1.1.3 

of the Clearing Conditions, ECAG shall not charge its Clearing Members a single 

admission fee in accordance with Number 1 Paragraph 1 letter a) above nor an 

annual fee in accordance with Number 1 Paragraph 1 letter b) above until this 

clause is revoked in writing. 

(5) For the granting of Specific Repo Licenses pursuant to Chapter IV Part 3 Number 

3.1 of the Clearing Conditions, ECAG shall not charge its Clearing Members a 

single admission fee in accordance with Number 1 Paragraph 1 letter a) above nor 

an annual fee in accordance with Number 1 Paragraph 1 letter b) above until this 

clause is revoked in writing. 

2. [Cancelled] 

3. Transaction Fees for Derivatives Transactions (Order Book 

Transactions and Off-Book-Transactions on the Eurex Exchanges) 

ECAG charges fees for transactions pursuant to Chapter I Part 1 Number 5.1 of the 

Clearing Conditions. 

These fees comprise transactions with regard to the matching/recording, administration 

and regulation of transactions on Eurex Deutschland and Eurex Zürich as well as options 

and futures transactions concluded off-book pursuant to Chapter II of the Clearing 

Conditions. 

Provided that the transaction fees in this price list are shown on different position 

accounts with regard to the accounting of the underlying transactions, such 

differentiation relates to the position accounts defined in Part 4 of the Conditions for 

Trading at Eurex Deutschland and Eurex Zürich. 

Each of the transaction fees to be paid on a monthly basis is shown separately to the 

Clearing Members with regard to their respective Non-Clearing Members whose 

transactions they clear. 

3.1 Matching / Recording of Derivatives Transactions (Trade) 

3.1.1 Order Book Transactions 

For transactions executed via the order book on the Eurex Exchanges, the following fees 

per contract apply. For some products specified in the table below, a reduced fee is 
Eurex08e 

Price List for Eurex Clearing AG As of 01.02.2016 

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applied on the contract volume of a transaction that exceeds the defined threshold. For 

transactions booked on M-Accounts, the fee defined in the “Standard Fee” category is 

applied. 

Sentence 3 does not apply to Stock Futures that are correctly booked on M-accounts. In 

these cases, the sliding fee scale as defined in sentence 2 applies. 

Contract1) Currency 

Standard 

Fee per 

Contract 

(contract 

volume ≤

threshold)

Reduced 

Fee per 

Contract 

(contract 

volume > 

threshold)

Threshold 

A-Accounts 

(number of 

contracts)

Threshold 

P-Accounts 

(number of 

contracts)

Equity Derivatives 

Stock Future with Group ID assigned in Annex A of the Eurex Contract Specifications 

AT01, BE01, DE01, ES01, 

ES02, FI01, FR01, GR01, 

IE01, IT01, NL01, NO01, 

PL01, PT01, SE01 

EUR 0.10 0.00 3,000 2,000 

BR01, CA01, CA02, RU01, 

US01, US02 

USD 0.15 0.00 3,000 2,000 

CH01, CH02 CHF 0.15 0.00 3,000 2,000 

GB01 GBP 0.08 0.00 3,000 2,000 

Stock Options/LEPOs with Group ID assigned in Annex B of the Eurex Contract Specifications 

DE11, DE12, DE13, DE142) EUR 0.15 0.08 1,000 500 

AT11, AT12, BE11, BE12, 

BE13, ES11, ES12, ES13, 

FI11, FI12, FI13, FI14, FR11, 

FR12, FR13; FR14, IE11, 

IT11, IT12, IT13, NL11, NL12, 

NL13, NL14, SE11, US11 

EUR 0.10 0.05 1,000 500 

CH11, CH12, CH13, CH143) CHF 0.20 0.10 1,000 500 

GB11 GBP 0.15 0.08 1,000 500 

RU11, RU12 USD 0.15 0.08 1,000 500 

Equity Index Derivatives 

Futures

ATX®Futures EUR 0.30 n. a. 

ATX® five Futures EUR 0.30 n. a. 

CECE® EUR Futures EUR 0.30 n. a. 

DAX®Futures EUR 0.50 n. a. 

DivDAX®Futures EUR 0.30 n. a. 

MDAX®Futures EUR 0,30 n. a. 

Mini-DAX®Futures4) EUR 0.25 n. a. 

TecDAX®Futures EUR 0.20 n. a. 

Dow Jones Global Titans 50SM

(EUR) Futures 

EUR 0.30 n. a. 

Dow Jones Global Titans 50SM USD 0.50 n. a. 
Eurex08e 

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Contract1) Currency 

Standard 

Fee per 

Contract 

(contract 

volume ≤

threshold)

Reduced 

Fee per 

Contract 

(contract 

volume > 

threshold)

Threshold 

A-Accounts 

(number of 

contracts)

Threshold 

P-Accounts 

(number of 

contracts)

(USD) Futures 

Dow Jones Sector Titans 

Futures 

USD 0.50 n. a. 

Eurex-KOSPI-Daily-FuturesContract5) KRW 0.04% n. a. 

Daily Futures on TAIEX 

Futures 

TWD 28,00 n. a. 

Daily Futures on TAIEX 

Options 

TWD 10,00 n. a. 

Futures on STOXX® Indices EUR 0.30 n. a. 

EURO STOXX 50® Variance 

Futures6) EUR 0.30 n.a. 

MSCI Futures 

(denominated in EUR) 

EUR 0.50 n. a. 

MSCI Futures 

(denominated in GBP) 

GBP 0.50 n. a. 

MSCI Futures 

(denominated in USD) 

USD 0.50 n. a. 

OMXH25 Futures EUR 0.50 n. a. 

RDX® EUR Futures EUR 0.30 n. a. 

RDX® USD Futures USD 0.40 n. a. 

Sensex Futures USD 0.20 n. a. 

SLI - Swiss Leader Index®

Futures 

CHF 0.20 n. a. 

SMI®Futures CHF 0.40 n. a. 

SMIM®Futures CHF 0.20 n. a. 

TA-25 Futures USD 0.30 n. a. 

Options 

ATX® Options EUR 0.30 0.15 3,000 2,000 

ATX® five Options EUR 0.30 0.15 3,000 2,000 

CECE® EUR Options EUR 0.30 0.15 3,000 2,000 

DAX® Options EUR 0.50 0.25 3,000 2,000 

DivDAX® Options EUR 0.75 0.38 3,000 2,000 

MDAX® Options EUR 0.30 0.15 3,000 2,000 

TecDAX® Options EUR 0.20 0.10 3,000 2,000 

Dow Jones Global Titans 50SM

(EUR) Options 

EUR 0,30 0,15 3,000 2,000 

MSCI Options 

(denominated in EUR) 

EUR 0,50 0,25 3,000 2,000 

MSCI Options (denominated in 

USD) 

USD 0.50 0.25 3,000 2,000 

OMXH25 Options EUR 0.50 0.25 3,000 2,000 
Eurex08e 

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Contract1) Currency 

Standard 

Fee per 

Contract 

(contract 

volume ≤

threshold)

Reduced 

Fee per 

Contract 

(contract 

volume > 

threshold)

Threshold 

A-Accounts 

(number of 

contracts)

Threshold 

P-Accounts 

(number of 

contracts)

Options on STOXX® Indices7) EUR 0.30 0.15 3,000 2,000 

RDX® EUR Options EUR 0.30 0.15 1,000 1,000 

RDX® USD Options USD 0.40 0.20 1,000 1,000 

Sensex Options USD 0.20 0.10 3,000 2,000 

SLI - Swiss Leader Index®

Options 

CHF 0.40 0.20 3,000 2,000 

SMI® Options CHF 1.00 0.50 3,000 2,000 

SMIM® Options CHF 0.40 0.20 3,000 2,000 

Index Dividend Derivatives 

Index Dividend Futures 

DAX® Kursindex 

Index Dividend Futures 

EUR 2.00 n. a. 

DivDAX®

Index Dividend Futures 

EUR 2.00 n. a. 

EURO STOXX 50®

Index Dividend Futures 

EUR 1.20 n. a. 

EURO STOXX® Sector 

Index Dividend Futures 

EUR 1.20 

EURO STOXX® Select 

Dividend 30 

Index Dividend Futures 

EUR 1.20 n. a. 

SMI®

Index Dividend Futures 

CHF 1.60 n. a. 

STOXX® Europe 600 Sector 

Index Dividend Futures 

EUR 1.20 

Index Dividend Options 

EURO STOXX 50®

Index Dividend Options 

EUR 1.20 n. a. 

Derivatives on Exchange Traded Index Fund Shares 

Futures 

iShares ETF Futures (in CHF) CHF 0.50 n. a. 

iShares ETF Futures (in EUR) EUR 0.30 n. a. 

Options 

db x-trackers ETF Options EUR 0.30 n. a. 

iShares ETF Options (in CHF) CHF 0.50 n. a. 

iShares ETF Options (in EUR) EUR 0.30 n. a. 

Lyxor ETF Options EUR 0.30 n. a. 

Source ETF Sector Options EUR 0.30 n. a. 

GMEX IRS Constant Maturity 

Futures 

2-3 year GMEX IRS Constant EUR 1.00 n. a. 
Eurex08e 

Price List for Eurex Clearing AG As of 01.02.2016 

Page 10 

Contract1) Currency 

Standard 

Fee per 

Contract 

(contract 

volume ≤

threshold)

Reduced 

Fee per 

Contract 

(contract 

volume > 

threshold)

Threshold 

A-Accounts 

(number of 

contracts)

Threshold 

P-Accounts 

(number of 

contracts)

Maturity Futures 

4-8 year GMEX IRS Constant 

Maturity Futures 

EUR 0.50 n. a. 

9-30 year GMEX Constant 

Maturity Futures 

EUR 0.25 n. a. 

Volatility Index Derivatives 

Futures 

VSTOXX®-Mini Futures (FVS) EUR 0.20 n. a. 

Options 

VSTOXX®-Options EUR 0.30 n. a. 

Interest Rate Derivatives 

Futures 

EUR Secured Funding 

Futures8) EUR 0.40 n.a. 

2-year, 5-year, 10-year and 

30-year Euro Swap Futures 

EUR 0.20 n.a. 

CONF Futures CHF 0.30 n. a. 

Three-Month EURIBOR 

Futures 

EUR 0.20 n. a. 

EONIA Futures9) EUR 0.40 n. a. 

Euro Bobl Futures, 

Euro Bund Futures, 

Euro Buxl®Futures 

Euro Schatz Futures, 

EUR 0.20 n. a. 

Euro-Bono-Futures EUR 0.20 n.a. 

Euro-BTP Futures, 

Mid-Term-Euro-BTP Futures, 

Short-Term Euro-BTP Futures 

EUR 0.20 n. a. 

Euro-OAT-Futures, 

Mid-Term-Euro-OAT Futures 

EUR 0.20 n.a. 

Options 

Options on Three-Month 

EURIBOR Future, 

One-Year, Two-Year, ThreeYear and Four-Year EURIBOR 

Mid-Curve Options on ThreeMonth EURIBOR Future 

EUR 0.20 n.a. 

Options on Euro Bobl Future, 

Options on Euro Bund Future,

Options on Euro Schatz 

EUR 0.20 0.10 4,000 4,000 
Eurex08e 

Price List for Eurex Clearing AG As of 01.02.2016 

Page 11 

Contract1) Currency 

Standard 

Fee per 

Contract 

(contract 

volume ≤

threshold)

Reduced 

Fee per 

Contract 

(contract 

volume > 

threshold)

Threshold 

A-Accounts 

(number of 

contracts)

Threshold 

P-Accounts 

(number of 

contracts)

Future 

Options on Euro-OAT Future EUR 0.20 n.a. 

Property Index Derivatives 

Futures 

IPD® UK Annual All Industrial 

Index Futures 

GBP 8.00 n. a. 

IPD® UK Annual All Office 

Index Futures 

GBP 8.00 n. a. 

IPD® UK Annual All Property 

(Excluding Residential 

Specialist Funds) 

Index Futures 

GBP 8.00 n. a. 

IPD® UK Annual All Retail 

Index Futures 

GBP 8.00 n. a. 

IPD® UK Quarterly City Office 

Index Futures Calendar Year 

Returns 

GBP 8.00 n. a. 

IPD® UK Quarterly Retail 

Warehouse Index Futures 

Calendar Year Returns 

GBP 8.00 n. a. 

IPD® UK Quarterly Shopping 

Centre Index Futures 

Calendar Year Returns 

GBP 8.00 n. a. 

IPD® UK Quarterly South 

Eastern Industrial Index 

Futures Calendar Year 

Returns 

GBP 8.00 n. a. 

IPD® UK Quarterly Westend & 

Midtown Office Index Futures 

Calendar Year Returns 

GBP 8.00 n. a. 

IPD® UK Quarterly All Property 

Index Futures Calendar Year 

Returns 

GBP 8.00 n. a. 

IPD® UK Quarterly All Retail 

Index Futures Calendar Year 

Returns 

GBP 8.00 n. a. 

IPD® UK Quarterly All Office 

Index Futures Calendar Year 

Returns 

GBP 8.00 n. a. 

IPD® UK Quarterly All GBP 8.00 n. a. 
Eurex08e 

Price List for Eurex Clearing AG As of 01.02.2016 

Page 12 

Contract1) Currency 

Standard 

Fee per 

Contract 

(contract 

volume ≤

threshold)

Reduced 

Fee per 

Contract 

(contract 

volume > 

threshold)

Threshold 

A-Accounts 

(number of 

contracts)

Threshold 

P-Accounts 

(number of 

contracts)

Industrial Index Futures 

Calendar Year Returns 

FX Derivatives10)

FX-Futures 

Sterling-Swiss Franc Futures USD 0,30 n. a. 

Sterling-US Dollar Futures USD 0,30 n. a. 

Euro-Sterling Futures USD 0,30 n. a. 

Euro-Swiss Franc Futures USD 0,30 n. a. 

Euro-US Dollar Futures USD 0,30 n. a. 

US Dollar-Swiss Franc 

Futures 

USD 0,30 n. a. 

FX-Options 

Sterling-Swiss Franc Options USD 0,30 n. a. 

Sterling-US Dollar Options USD 0,30 n. a. 

Euro-Sterling Options USD 0,30 n. a. 

Euro-Swiss Franc Options USD 0,30 n. a. 

Euro-US Dollar Options USD 0,30 n. a. 

US Dollar-Swiss Franc 

Options 

USD 

0,30 n. a. 

Precious Metal Derivatives 

Futures 

Gold-Futures USD 0.70 n. a. 

Silver-Futures USD 0.70 n. a. 

Xetra-Gold®-Futures EUR 0.20 n. a. 

Options 

Gold-Options USD 0.70 n. a. 

Silver-Options USD 0.70 n. a. 

Xetra-Gold®- Options EUR 0.20 n. a. 

Commodity Index Derivatives 

Futures 

Futures on Bloomberg Indices USD 1.00 n. a. 

Options

Options on Bloomberg Indices USD 1.00 n. a. 

Derivates on Exchange-traded Commodities Securities

Futures

ETFS Physical Gold Futures USD 0.20 n. a. 

ETFS WTI Crude Oil Futures USD 0.50 n. a. 

Options

ETFS Physical Gold Options USD 0.20 n. a. 

ETFS WTI Crude Oil Options USD 0.50 n. a. 
Eurex08e 

Price List for Eurex Clearing AG As of 01.02.2016 

Page 13 

Contract1) Currency 

Standard 

Fee per 

Contract 

(contract 

volume ≤

threshold)

Reduced 

Fee per 

Contract 

(contract 

volume > 

threshold)

Threshold 

A-Accounts 

(number of 

contracts)

Threshold 

P-Accounts 

(number of 

contracts)

Stock Dividend Futures with Group ID assigned in Annex D of the Eurex Contract Specifications11)

Dividend of 

the 

underlying 

stock 

CH21 

>= 1.00 

CHF 

1.60 

n.a. 

0,75 – 0,99 1.30 

0,50 – 0,74 1.10 

0,25 – 0,49 0.80 

< 0,25 0.30 

DE21, BE21, 

ES21, FR21, 

FI21, GB23, 

IE21, NL21, 

IT21 

>= 1.00 

EUR 

1.20 

n.a 

0.75 – 0,99 1.00 

0.50 – 0,74 0.80 

0.25 – 0.49 0.60 

< 0.25 0.20 

GB21 

>= 1.00 

GBP 

0.30 

n.a. 

0.75 – 0.99 0.26 

0.50 – 0.74 0.20 

0.25 – 0.49 0.10 

< 0.25 0.04 

GB22 

>= 1.00 

USD 

1.20 

n.a. 

0.75 – 0.99 1.00 

0.50 – 0.74 0.80 

0.25 – 0.49 0.60 

< 0.25 0.20 

US21, US22 

>= 1.00 

USD 

1.20 

n.a. 

0.75 – 0.99 1.00 

0.50 – 0.74 0.80 

0.25 – 0.49 0.60 

< 0.25 0.20 

1) The fees already accumulated in connection with a transaction pursuant to Number 3.1.1.1 of the Price 

Schedule of Eurex Clearing AG will be cancelled, if such transaction was rescinded pursuant to the 

regulations under Number 2.7 of the Conditions for Trading at Eurex Deutschland and Eurex Zürich. 

2) For German Stock Options, the standard fee per contract for transactions booked on P-Accounts or MAccounts respectively is 0.10 EUR. The reduced fee per contract for transactions booked on P-Accounts is 

0.05 EUR. 

3) For Swiss Stock Options, the standard fee per contract for transactions booked on P-Accounts or MAccounts respectively is 0.15 CHF. The reduced fee per contract for transactions booked on P-Accounts is 

0.08 CHF. 
Eurex08e 

Price List for Eurex Clearing AG As of 01.02.2016 

Page 14 

Contract1) Currency 

Standard 

Fee per 

Contract 

(contract 

volume ≤

threshold)

Reduced 

Fee per 

Contract 

(contract 

volume > 

threshold)

Threshold 

A-Accounts 

(number of 

contracts)

Threshold 

P-Accounts 

(number of 

contracts)

4) For Mini-DAX Futures, the standard fee per contract for transactions booked on P-Accounts or M-Accounts 

respectively is 0.20 EUR. 

5) The fees for transactions in Eurex-KOSPI-Daily-Futures-Contracts are defined as a percentage of the 

premium per contract, i.e. the percentage from the table above times the traded price times the contract 

value of 500,000 South Korean Won (KRW). 

6) For EURO STOXX 50® Variance Futures the standard fee per contract for transactions booked on PAccounts or M-Accounts respectively is 0.20 EUR. 

7) For EURO STOXX 50® Index Options (OESX), there is a second threshold for the reduced Fee per 

Contract (contract volume > 2. threshold) for transactions on P-Accounts. For all contracts above 10,000 

per transaction the standard fee of 0.30 EUR will be reduced by 75% resulting in 0.075 EUR. 

8) For EUR Secured Funding Futures, the standard fee per contract for transactions booked on P-Accounts or 

M-Accounts respectively is 0.20 EUR. 

9) For EONIA Futures, the standard fee per contract for transactions booked on P-Accounts or M-Accounts 

respectively is 0.20 EUR. 

10) For FX-Derivatives (FX-Futures and FX-Options) the standard fee per contract for transactions booked on 

P-Accounts is 0.15 USD. 

11) The fee classification for an individual Single Stock Dividend Future shall be based on the relevant dividend 

amount for such Single Stock Dividend Future on the relevant reference date, such classification taking 

effect on 1 September of each calendar year and being communicated via circular. The initial reference 

date is 14 May 2013. For the Single Stock Dividend Futures with Group ID US21 and US22, the initial 

reference date is 20.12.2013, counting all paid dividends from 21.12.2012. From 2014 onwards, the 

reference date will be the last trading day in July of each calendar year. 

3.1.2 Off-Book Transactions 

(1) For transactions executed off-book and entered into the Eurex System via the Eurex 

Trade Entry Services (as described in the Conditions for Utilization of the Eurex 

Trade Entry Services), the following fees per contract apply. For some products 

specified in the table below a reduced fee is applied on the contract volume of an offbook transaction entered into the Eurex System that exceeds the defined threshold. 

For transactions booked on M-Account the fee defined in the “Standard Fee” 

category is applied. 

Sentence 3 does not apply to transactions in stock futures that are correctly booked 

on M-accounts. In these cases the sliding fee scale as defined in sentence 2 applies. 

(2) For off-book transactions in products other than stock options/LEPOs and Options on 

Interest Rate Futures that are entered into the Eurex System via the Eurex Trade 

Entry Service for multilateral trades (Multilateral Trade Registration Service) the 
Eurex08e 

Price List for Eurex Clearing AG As of 01.02.2016 

Page 15 

standard fee is applicable on the entire volume of the transaction. In these cases, the 

reduced fee is not applied. 

Contract Currency 

Standard 

Fee per 

Contract 

(contract 

volume ≤

threshold)

Reduced 

Fee per 

Contract 

(contract 

volume > 

threshold)

Threshold 

A-Accounts 

(number of 

contracts)

Threshold 

P-Accounts 

(number of 

contracts)

Equity Derivatives 

Stock Futures with Group ID assigned in Annex A of the Eurex Contract Specifications 

AT01, BE01, DE01, ES01, 

ES02, FI01, FR01, GR01, 

IE01, IT01, NL01, NO01, 

PL01, PT01, SE01 

EUR 0.15 0.00 3,000 2,000 

BR01, CA01, CA02, RU01, 

US01, US02 

USD 0.23 0.00 3,000 2,000 

CH01, CH02 CHF 0.23 0.00 3,000 2,000 

GB01 GBP 0.12 0.00 3,000 2,000 

Stock Options/LEPOs with Group ID assigned in Annex B of the Eurex Contract Specifications1)

DE11, DE12, DE13, DE142) EUR 0.15 0.08 1,000 500 

AT11, AT12, BE11, BE12, 

BE13, ES11, ES12, ES13, 

FI11, FI12, FI13, FI14, FR11, 

FR12, FR13, FR14, IE11, 

IT11, IT12, IT13, NL11, NL12, 

NL13, NL14, SE11, US11 

EUR 0.10 0.05 1,000 500 

CH11, CH12, CH13, CH143) CHF 0.20 0.10 1,000 500 

GB11 GBP 0.15 0.08 1,000 500 

RU11, RU12 USD 0.15 0.08 1,000 500 

Equity Index Derivatives 

Futures 

ATX®Futures EUR 0.45 n. a. 

ATX® five Futures EUR 0.45 n. a. 

CECE® EUR Futures EUR 0.45 n. a. 

DAX®Futures EUR 0.75 n. a. 

DivDAX®Futures EUR 0.45 n. a. 

MDAX®Futures EUR 0.45 n. a. 

Mini-DAX®Futures4) EUR 0.37 n. a. 

TecDAX®Futures EUR 0.30 n. a. 

Dow Jones Global Titans 50SM

(EUR) Futures 

EUR 0.45 n. a. 

Dow Jones Global Titans 50SM

(USD) Futures 

USD 0.75 n. a. 

Dow Jones Sector Titans 

Futures 

USD 0.75 n. a. 

Eurex-KOSPI-Daily-FuturesContract5) KRW 0.04% n. a. 
Eurex08e 

Price List for Eurex Clearing AG As of 01.02.2016 

Page 16 

Contract Currency 

Standard 

Fee per 

Contract 

(contract 

volume ≤

threshold)

Reduced 

Fee per 

Contract 

(contract 

volume > 

threshold)

Threshold 

A-Accounts 

(number of 

contracts)

Threshold 

P-Accounts 

(number of 

contracts)

Daily Futures on TAIEX 

Futures 

TWD 38,00 n. a. 

Daily Futures on TAIEX 

Options 

TWD 14,00 n. a. 

Futures based on STOXX®

Indices 

EUR 0.45 n. a. 

EURO STOXX 50® Variance 

Futures6) EUR 0.45 n.a. 

MSCI Futures 

(denominated in EUR) EUR 0.75 n. a. 

MSCI Futures 

(denominated in GBP) GBP 0.75 n. a. 

MSCI Futures 

(denominated in USD) 

USD 0.75 n. a. 

OMXH25 Futures EUR 0.75 n. a. 

RDX® EUR Futures EUR 0.45 n. a. 

RDX® USD Futures USD 0.60 n. a. 

Sensex Futures USD 0.30 n. a. 

SLI - Swiss Leader Index®

Futures 

CHF 0.30 n. a. 

SMI®Futures CHF 0.60 n. a. 

SMIM®Futures CHF 0.30 n. a. 

TA-25 Futures USD 0.30 n. a. 

Options 

ATX® Options EUR 0.30 0.15 3,000 2,000 

ATX® five Options EUR 0.30 0.15 3,000 2,000 

CECE® EUR Options EUR 0.30 0.15 3,000 2,000 

DAX® Options EUR 0.50 0.25 3,000 2,000 

DivDAX® Options EUR 0.75 0.38 3,000 2,000 

MDAX® Options EUR 0.30 0.15 3,000 2,000 

TecDAX® Options EUR 0.20 0.10 3,000 2,000 

Dow Jones Global Titans 50SM

(EUR) Options 

EUR 0.30 0.15 3,000 2,000 

MSCI Options 

(denominated in EUR) 

EUR 0.50 0.25 3,000 2,000 

MSCI Options (denominated in 

USD) 

USD 0.50 0.25 3,000 2,000 

OMXH25 Options EUR 0.50 0.25 3,000 2,000 

Options on STOXX® Indices7) EUR 0.30 0.15 3,000 2,000 

RDX® EUR Options EUR 0,30 0,15 1.000 1.000 

RDX® USD Options USD 0.40 0.20 1,000 1,000 

Sensex Options USD 0.20 0.10 3,000 2,000 
Eurex08e 

Price List for Eurex Clearing AG As of 01.02.2016 

Page 17 

Contract Currency 

Standard 

Fee per 

Contract 

(contract 

volume ≤

threshold)

Reduced 

Fee per 

Contract 

(contract 

volume > 

threshold)

Threshold 

A-Accounts 

(number of 

contracts)

Threshold 

P-Accounts 

(number of 

contracts)

SLI - Swiss Leader Index®

Options 

CHF 0.40 0.20 3,000 2,000 

SMI® Options CHF 1.00 0.50 3,000 2,000 

SMIM® Options CHF 0.40 0.20 3,000 2,000 

Index Dividend Derivatives 

Index Dividend Futures 

DAX® Kursindex 

Index Dividend Futures 

EUR 3.00 n. a. 

DivDAX®

Index Dividend Futures 

EUR 3.00 n. a. 

EURO STOXX 50®

Index Dividend Futures 

EUR 1.80 n. a. 

EURO STOXX® Sector 

Index Dividend Futures 

EUR 1.80 n. a. 

EURO STOXX® Select 

Dividend 30 

Index Dividend Futures 

EUR 1.80 n. a. 

SMI®

Index Dividend Futures 

CHF 2.40 n. a. 

STOXX® Europe 600 Sector 

Index Dividend Futures 

EUR 1.80 n. a. 

Index Dividend Options Contracts 

EURO STOXX 50® Index 

Dividend Options 

EUR 1.20 n. a. 

Derivatives on Exchange Traded Index Fund Shares 

Futures 

iShares ETF Futures (in CHF) CHF 0.70 n. a. 

iShares ETF Futures (in EUR) EUR 0.40 n. a. 

Options 

db x-trackers ETF Options EUR 0.40 n. a. 

iShares ETF Options (in CHF) CHF 0.70 n. a. 

iShares ETF Options (in EUR) EUR 0.40 n. a. 

Lyxor ETF Options EUR 0.40 n. a. 

Source ETF Sector Options EUR 0.40 n. a. 

GMEX IRS Constant Maturity 

Futures

2-3 year GMEX IRS Constant 

Maturity Futures 

EUR 1.00 n. a. 

4-8 year GMEX IRS Constant 

Maturity Futures 

EUR 0.50 n. a. 

9-30 year GMEX Constant EUR 0.25 n. a. 
Eurex08e 

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Page 18 

Contract Currency 

Standard 

Fee per 

Contract 

(contract 

volume ≤

threshold)

Reduced 

Fee per 

Contract 

(contract 

volume > 

threshold)

Threshold 

A-Accounts 

(number of 

contracts)

Threshold 

P-Accounts 

(number of 

contracts)

Maturity Futures 

Volatility Index Derivatives 

Futures 

VSTOXX®-Mini Futures (FVS) EUR 0.30 n. a. 

Options 

VSTOXX®-Options EUR 0.30 n. a. 

Interest Rate Derivatives 

Futures 

EUR Secured Funding 

Futures8) EUR 0.60 n.a. 

2-year, 5-year, 10-year and 

30-year Euro Swap Futures 

EUR 0.30 n.a. 

CONF Futures CHF 0.45 n. a. 

Three-Month EURIBOR 

Futures 

EUR 0.30 n. a. 

EONIA Futures9) EUR 0.60 n. a. 

Euro Bobl Futures, 

Euro Bund Futures, 

Euro Buxl®Futures 

Euro Schatz Futures 

EUR 0.30 n. a. 

Euro-Bono-Futures EUR 0.30 n.a. 

Euro-BTP Futures, 

Mid-Term-Euro-BTP 

Futures,Short-Term-Euro-BTP 

Futures 

EUR 0.30 n. a. 

Euro-OAT-Futures, 

Mid-Term-Euro-OAT Futures 

EUR 0.30 n. a. 

Options 

Options on Three-Month 

EURIBOR Futures, 

One-Year, Two-Year, ThreeYear and Four-Year EURIBOR 

Mid-Curve Options on ThreeMonth EURIBOR Future 

EUR 0.20 n. a. 

Options on Euro Bobl Future, 

Options on Euro Bund Future 

Options on Euro Schatz 

Future 

EUR 0.20 0.10 4,000 4,000 

Options on Euro-OAT Future EUR 0.20 n.a. 

Property Index Derivatives 

Futures 
Eurex08e 

Price List for Eurex Clearing AG As of 01.02.2016 

Page 19 

Contract Currency 

Standard 

Fee per 

Contract 

(contract 

volume ≤

threshold)

Reduced 

Fee per 

Contract 

(contract 

volume > 

threshold)

Threshold 

A-Accounts 

(number of 

contracts)

Threshold 

P-Accounts 

(number of 

contracts)

IPD® UK Annual All Industrial 

Index Futures 

GBP 12.00 n. a. 

IPD® UK Annual All Office 

Index Futures 

GBP 12.00 n. a. 

IPD® UK Annual All Property 

(Excluding Residential 

Specialist Funds) Index 

Futures 

GBP 12.00 n. a. 

IPD® UK Annual All Retail 

Index Futures 

GBP 12.00 n. a. 

IPD® UK Quarterly City Office 

Index Futures Calendar Year 

Returns 

GBP 12.00 n. a. 

IPD® UK Quarterly Retail 

Warehouse Index Futures 

Calendar Year Returns 

GBP 12.00 n. a. 

IPD® UK Quarterly Shopping 

Centre Index Futures 

Calendar Year Returns 

GBP 12.00 n. a. 

IPD® UK Quarterly South 

Eastern Industrial Index 

Futures Calendar Year 

Returns 

GBP 12.00 n. a. 

IPD® UK Quarterly Westend & 

Midtown Office Index Futures 

Calendar Year Returns 

GBP 12.00 n. a. 

IPD® UK Quarterly All Property 

Index Futures Calendar Year 

Returns 

GBP 12.00 n. a. 

IPD® UK Quarterly All Retail 

Index Futures Calendar Year 

Returns 

GBP 12.00 n. a. 

IPD® UK Quarterly All Office 

Index Futures Calendar Year 

Returns 

GBP 12.00 n. a. 

IPD® UK Quarterly All 

Industrial Index Futures 

Calendar Year Returns 

GBP 12.00 n. a. 

FX Derivatives10)

FX-Futures 
Eurex08e 

Price List for Eurex Clearing AG As of 01.02.2016 

Page 20 

Contract Currency 

Standard 

Fee per 

Contract 

(contract 

volume ≤

threshold)

Reduced 

Fee per 

Contract 

(contract 

volume > 

threshold)

Threshold 

A-Accounts 

(number of 

contracts)

Threshold 

P-Accounts 

(number of 

contracts)

Sterling-Swiss Franc Futures USD 0,45 n. a. 

Sterling-US Dollar Futures USD 0,45 n. a. 

Euro-Sterling Futures USD 0,45 n. a. 

Euro-Swiss Franc Futures USD 0,45 n. a. 

Euro-US Dollar Futures USD 0,45 n. a. 

US Dollar-Swiss Franc 

Futures 

USD 0,45 n. a. 

FX-Options 

Sterling-Swiss Franc Options USD 0,45 n. a. 

Sterling-US Dollar Options USD 0,45 n. a. 

Euro-Sterling Options USD 0,45 n. a. 

Euro-Swiss Franc Options USD 0,45 n. a. 

Euro-US Dollar Options USD 0,45 n. a. 

US Dollar-Swiss Franc 

Options 

USD 0,45 n. a. 

Precious Metal Derivatives 

Futures 

Gold-Futures USD 0.70 n. a. 

Silver-Futures USD 0.70 n. a. 

Xetra-Gold®-Futures EUR 0.30 n. a. 

Options 

Gold-Options USD 0.70 n. a. 

Silver-Options USD 0.70 n. a. 

Xetra-Gold®-Options EUR 0.30 n. a. 

Commodity Index Derivatives 

Futures 

Futures on Bloomberg Indices USD 1.50 n. a. 

Options 

Options on Bloomberg Indices USD 1.50 n. a. 

Derivates on Exchange-traded Commodities Securities 

Futures 

ETFS Physical Gold Futures USD 0.30 n.a. 

ETFS WTI Crude Oil Futures USD 0.75 n.a. 

Options 

ETFS Physical Gold Options USD 0.20 n.a. 

ETFS WTI Crude Oil Options USD 0.50 n.a. 

Stock Dividend Futures with Group ID assigned in Annex D of the Eurex Contract Specifications11)

Dividend of 

the 

underlying 

stock 
Eurex08e 

Price List for Eurex Clearing AG As of 01.02.2016 

Page 21 

Contract Currency 

Standard 

Fee per 

Contract 

(contract 

volume ≤

threshold)

Reduced 

Fee per 

Contract 

(contract 

volume > 

threshold)

Threshold 

A-Accounts 

(number of 

contracts)

Threshold 

P-Accounts 

(number of 

contracts)

CH21 

>= 1.00 

CHF 

2.40 

n.a. 

0.75 – 0.99 1.95 

0.50 – 0.74 1.65 

0.25 – 0.49 1.20 

< 0.25 0.45 

DE21, BE21, 

ES21, FR21, 

FI21, GB23, 

IR21, NL21, 

IT21 

>= 1.00 

EUR 

1.80 

n.a. 

0.75 – 0.99 1.50 

0.50 – 0.74 1.20 

0.25 – 0.49 0.90 

< 0.25 0.30 

GB21 

>= 1.00 

GBP 

0.45 

n.a. 

0.75 – 0.99 0.39 

0.50 – 0.74 0.30 

0.25 – 0.49 0.15 

< 0.25 0.06 

GB22 

>= 1.00 

USD 

1.80 

n.a. 

0.75 – 0.99 1.50 

0.50 – 0.74 1.20 

0.25 – 0.49 0.90 

< 0.25 0.30 

US21, US22 

>= 1.00 

USD 

1.80 

n.a. 

0.75 – 0.99 1.50 

0.50 – 0.74 1.20 

0.25 – 0.49 0.90 

< 0.25 0.30 

1) For security transactions in shares resulting from Combination Transactions Option-Share, transaction fees 

according to Number 3.11 in connection with Number 9.1.1 shall be charged. 

2) For German Stock Options, the standard fee per contract for transactions booked on P-Accounts or MAccounts respectively is 0.10 EUR. The reduced fee per contract for transactions booked on P-Accounts is 

0.05 EUR. 

3) For Swiss Stock Options, the standard fee per contract for transactions booked on P-Accounts or MAccounts respectively is 0.15 CHF. The reduced fee per contract for transactions booked on P-Accounts is 

0.08 CHF. 

4) For Mini-DAX Futures, the standard fee per contract for transactions booked on P-Accounts or M-Accounts 

respectively is 0.30 EUR. 

5) The fees for transactions in Eurex-KOSPI-Daily-Futures-Contracts are defined as a percentage of the 

premium per contract, i.e. the percentage from the table above times the traded price times the contract 

value of 500,000 South Korean Won (KRW). 

6) For EURO STOXX 50® Variance Futures the standard fee per contract for transactions booked on P-
Eurex08e 

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Contract Currency 

Standard 

Fee per 

Contract 

(contract 

volume ≤

threshold)

Reduced 

Fee per 

Contract 

(contract 

volume > 

threshold)

Threshold 

A-Accounts 

(number of 

contracts)

Threshold 

P-Accounts 

(number of 

contracts)

Accounts or M-Accounts respectively is 0.30 EUR. 

7) For EURO STOXX 50® Index Options (OESX), there is a second threshold for the reduced Fee per 

Contract (contract volume > 2. threshold) for transactions on P-Accounts. For all contracts above 10,000 

per transaction the standard fee of 0.30 EUR will be reduced by 75% resulting in 0.075 EUR. 

8) For EUR Secured Funding Futures, the standard fee per contract for transactions booked on P-Accounts 

or M-Accounts respectively is 0.30 EUR. 

9) For EONIA Futures, the standard fee per contract for transactions booked on P-Accounts or M-Accounts 

respectively is 0.30 EUR. 

10) For FX-Derivatives (FX-Futures and FX-Options) the standard fee per contract for transactions booked on 

P-Accounts is 0.225 USD. 

11) The fee classification for an individual Single Stock Dividend Future shall be based on the relevant 

dividend amount for such Single Stock Dividend Future on the relevant reference date, such classification 

taking effect on 1 September of each calendar year and being communicated via circular. The initial 

reference date is 14 May 2013. For the Single Stock Dividend Futures with Group ID US21 and US22, the 

initial reference date is 20.12.2013, counting all paid dividends from 21.12.2012. From 2014 onwards, the 

reference date will be the last trading day in July of each calendar year. 

3.2 Rebates 

3.2.1 Market Making Rebates for Products without Market Making in Option Strategies 

Upon fulfilment of the published Market Making Obligations, parts of the fees pursuant to 

Numbers 3.1.1, 3.1.2 and 3.7 for transactions correctly booked on M-Accounts are 

refunded on a monthly basis. The rebate levels are as follows, however, taking into 

consideration Number 3.2.2 with regard to products with Market Making in Option 

Strategies: 

Product / Product Group 

RMM and PMM schemes AMM schemes 

Order Book and 

Exercises 

Off-Book entries 

Order Book and 

Exercises 

Off-Book entries 

Equity Index Options 

without Market Making in 

Option Strategies 

55% 40% 80% 60% 

Equity Options 

without Market Making in 

Option Strategies 

55% 40% 80% 60% 

Bloomberg Options 50% 50% n. a. n. a. 

Eurex-KOSPI-Daily-Futures- 50% 50% n. a. n. a. 
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Product / 

Product Group 

RMM Schemes PMM Schemes 

Minimum 

Volume per 

Month 

Order Book 

and 

Exercises 

OTC entries 

Minimum 

Volume per 

Month 

Order Book 

and 

Exercises 

OTC entries 

Options on ThreeMonth EURIBOR 

Future 

2,000 80% 80% n.a. 90% 90% 

One-Year and TwoYear EURIBOR MidCurve Options on 

Three-Month 

EURIBOR Future 

2,000 80% 80% n.a. 90% 90% 

Three-Year and 

Four-Year EURIBOR 

Mid-Curve Options 

on Three-Month 

EURIBOR Future 

500 85% 85% n.a. 95% 95% 

For off-book transactions entered via the Flexible Options Service, market making rebates 

are not granted. 

3.2.2 Market Making Rebates for Products with Market Making in Option Strategies 

For products with Market Making in Option Strategies, the fees pursuant to Numbers 3.1.1, 

3.1.2 and 3.7 for transactions correctly booked on M-Accounts are in part refunded on a 

Contracts 

Daily Futures on TAIEX 

Options 

50% 50% n. a. n. a. 

FX-Futures 

FX-Options 

50% 50% 50% 50% 

Product / Product Group 

RMM and PMM schemes AMM schemes 

Order Book and 

Exercises 

Off-Book entries 

Order Book and 

Exercises 

Off-Book entries 

Gold-Futures, 

Silver-Futures, 

Gold-Options, 

Silver-Options 

75% n. a. n. a. n. a. 

Options on Exchange 

Traded Index Fund Shares 

50% 50% 75% 75% 

Xetra-Gold®-Options 50% n. a. n. a. n. a. 
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monthly basis upon fulfilment of the published Market Making Obligations. The rebate 

levels are as follows: 

For products with Market Making in Option Strategies, the fees pursuant to Numbers 3.1.1, 

3.1.2 and 3.7 for transactions correctly booked on M-Accounts are in part refunded on a 

monthly basis upon fulfilment of the published Market Making Obligations and additional 

fulfilment of the published Market Making Obligations in Option Strategies. Without 

fulfilment of the published Market Making Obligations, the rebates for the published Market 

Making Obligations in Option Strategies do not apply. The rebate levels are as follows: 

For off-book transactions entered via the Flexible Options Service, market making rebates 

are not granted. 

Product / Product Group 

PMM schemes AMM schemes 

Order Book and 

Exercises 

Off-Book entries 

Order Book and 

Exercises 

Off-Book entries 

Equity Index Options 

with Market Making in 

Option Strategies 

45% 30% 70% 50% 

Equity Options 

with Market Making in 

Option Strategies 

45% 30% 70% 50% 

Options on Euro-Bund, 

Options on Euro-Bobl, 

Options on Schatz-Future 

with Market Making in 

Option Strategies 

70% 60% 80% 75% 

Product / Product Group 

PMM schemes AMM schemes 

Order Book and 

Exercises 

Off-Book entries 

Order Book and 

Exercises 

Off-Book entries 

Equity Index Options 

with Market Making in 

Option Strategies 

10% 10% 10% 10% 

Equity Options 

with Market Making in 

Option Strategies 

10% 10% 10% 10% 

Options on Euro-Bund, 

Options on Euro-Bobl, 

Options on Schatz-Future 

with Market Making in 

Option Strategies 

10% 10% 10% 10% 
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3.2.3 Volume Rebates 

(1) With regard to payable transaction fees which originate from the matching or the 

registration of derivatives transactions (Trade) within the meaning of Number 3.1.1 

and Number 3.1.2 that have been correctly booked on proprietary position accounts 

(P-Accounts) of a Clearing Member, rebates shall be granted by ECAG according to 

this Number if – with respect to specific product groups – the minimum number as 

determined in Paragraph 3 of contracts to be taken into account (transaction volume) 

is reached or exceeded within a calendar month. 

Sentence 1 applies accordingly to payable transaction fees which originate from the 

matching respectively the entry of derivatives transactions within the meaning of 

Number 3.1.1 and Number 3.1.2 of a Non-Clearing Member and which have been 

correctly booked on their proprietary position accounts (P-Accounts). 

In determining the transaction volume to be taken into account according to this 

Number, transaction volume of trades pursuant to Number 3.1.1 and Number 3.1.2 

exceeding the therein defined thresholds is considered according to the following 

formula: 

Vol+ * PRed/PS 

where Vol+ describes the volume of a transaction in excess of the threshold, PRed 

describes the reduced fee and PS the standard fee in the meaning of Number 3.1.1 

and Number 3.1.2. Thus, only the portion of trade volume in excess of the threshold 

is considered that is equivalent to the ratio between the reduced fee and the standard 

fee. 

The regulations pursuant to Sentence 1 and Sentence 2 do not apply to trades which 

are initially entered into proprietary position accounts (P-Accounts) and are 

afterwards transferred to a customer account (A-Account) of a Clearing Member 

respectively a Non-Clearing Member. 

(2) Transaction volume from transactions within the meaning of Number 3.1.1 and 

Number 3.1.2 which are correctly booked on M-position accounts (M-Accounts), shall 

be added to the transaction volume according to Paragraph 1, in case the concerned 

Clearing Member is not granted any rebates with regard to payable transaction fees 

in connection with the execution of Market Making by the Clearing Member or its Non 

Clearing Members. 

(3) ECAG grants rebates on payable transaction fees within the meaning of Paragraph 1 

and 2, if such fee claims have arisen from transactions within one calendar month 

and if the minimum number of transactions per product group has been reached or 

exceeded. Transactions in Eurex-KOSPI-Daily-Futures-contracts and Daily Futures 

contracts on TAIEX Derivatives shall not be taken into account when calculating the 

number of contracts (transaction volume) for Equity Index Futures. The minimum 

transaction volume for each product group is listed in the following rebate scale: 
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Futures: 

When calculating the minimum number of contracts to be taken into account, only 

order book transactions pursuant to number 3.1.1 are taken into account. 

Product Group Level 1 Level 2 Level 3 

Minimum number of contracts 

Equity Index Futures 300,001 400,001 500,001 

Interest Rate Futures 300,001 600,001 1,200,001 

Options: 

When calculating the minimum number of contracts to be taken into account, order 

book transactions pursuant to number 3.1.1 and off-book transactions pursuant to 

number 3.1.2 are taken into account. 

Product / 

Product Group 

Level 1 Level 2 Level 3 Level 4 Level 5 

Minimum number of contracts 

Equity Derivatives

Equity Options 80,001 160,001 320,001 1,000,001 2,000,001 

Equity Index Derivatives

DAX-Options 40,001 80,001 160,001 500,001 1,000,001 

Euro STOXX 50 

Options 

80,001 160,001 320,001 1,000,001 2,000,001 

SMI-Options 4,001 8,001 16,001 50,001 100,001 

Other Equity Index 

Options (aggregated) 

10,001 20,001 30,001 50,001 70,001 

Interest Rate Derivatives 

Options on ThreeMonth EURIBOR 

Future, 

One-Year, Two-Year, 

Three-Year and FourYear EURIBOR MidCurve Options on 

Three-Month 

EURIBOR Future 

15,001 30,001 60,001 120,001 240,001 

Options on Euro-Bund, 

Options on Euro-Bobl, 

Options on SchatzFuture 

90,001 180,001 280,001 480,001 760,001 

(4) The amount of the granted rebates on transaction fees pursuant to Number 3.2.2 

Paragraphs 1 and 2 is determined on basis of the payable transaction fees for the 
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matching of transactions per product group within a calendar month: rebates are 

granted on a pro-rata basis as soon as the levels of the rebate scale determined in 

Paragraph 3 are equalled or exceeded. Such rebates are only granted on the number 

of transactions within the respective level of each of the rebate scales. 

 
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Futures: 

Only fees pursuant to Number 3.1.1 are rebated. 

Rebate scale Rebate 

Level 1 10% 

Level 2 20% 

Level 3 30% 

Options: 

Fees pursuant to Number 3.1.1 and 3.1.2 are rebated. 

Rebate scale Rebate 

Level 1 20% 

Level 2 30% 

Level 3 40% 

Level 4 60% 

Level 5 80% 

(5) Rebates pursuant to this Number are granted to Clearing Members subject to the 

condition that they transfer such rebates directly and in the same amount to their 

Non-Clearing Members, from whose transactions these rebates have resulted. ECAG 

reserves the right vis-à-vis Clearing Members to reclaim granted rebates in case of 

the non-fulfilment of this provision. 

If transactions are booked on position accounts (P-Accounts) or M-position accounts 

(M-Accounts) by Clearing Members or Non-Clearing Members, but do not fulfil the 

prerequisites for a booking into these accounts as specified in the regulations in 

Paragraph 4 of the Conditions for Trading at Eurex Deutschland and Eurex Zürich, 

ECAG reserves the right to reclaim the granted rebates. If, in this case, rebates have 

not yet been granted, ECAG is authorized, when determining the transaction volume 

per product group relevant for the calculation of rebates, to disregard such 

transactions. 

In connection with the calculation and reimbursement of rebates, Chapter I Part 1 

Number 2.1.2 (7) of the Clearing Conditions applies accordingly. According to this, 

ECAG is authorized – in order to verify the orderly booking of trades into ownrespectively M-Position accounts pursuant to Paragraph 4 of the Conditions for 

Trading at Eurex Deutschland and Eurex Zürich, and to verify the transfer of rebates 

by Clearing Members to their Non-Clearing Members – to commission an auditor 

within the meaning of the German Banking Act (KWG) or similar regulations; the 

costs have to be borne by the Clearing Member. 
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3.2.4 Rebates for Order Book Transactions in Money Market Futures Strategies 

Strategy Currency 

Fee per 

Strategy 

Number of 

Contracts 

Fee per 

Contract 

Three-Month EURIBOR Futures 

Packs 

White Pack EUR 0.64 4 0.16 

Red Pack EUR 0.60 4 0.15 

Green Pack EUR 0.56 4 0.14 

Blue Pack EUR 0.16 4 0.04 

Gold Pack EUR 0.08 4 0.02 

Bundles 

2-Year Bundle EUR 0.96 8 0.12 

3-Year Bundle EUR 0.96 12 0.08 

4-Year Bundle EUR 0.96 16 0.06 

5-Year Bundle EUR 0.80 20 0.04 

3.3 Position Closing Adjustments 

Position Closing Adjustments, if these do not take place between 13:30 CET on the day 

of trade and before 13:30 CET of the following trading day: 

Contract Fee per Contract 

Stock Futures assigned in Annex A of the Eurex Contract Specifications 

AT01, BE01, DE01, FI01, ES01, ES02, FR01, 

GR01, IE01, IT01, NL01, NO01, PL01, PT01, SE01 

EUR 0.20 

BR01, CA01, CA02, RU01, US01, US02 USD 0.30 

CH01, CH02 CHF 0.30 

GB01 GBP 0.16 

Equity Index Derivatives

ATX®Futures EUR 0.60

ATX® five Futures EUR 0.60

CECE® EUR Futures EUR 0.60

DAX®Futures EUR 1.00 

DivDAX®Futures EUR 0.60 

MDAX®Futures EUR 0.60 

Mini-DAX®Futures EUR 0.50 

TecDAX®Futures EUR 0.40 

Dow Jones Global Titans 50SM (EUR) Futures EUR 0.60 

Dow Jones Global Titans 50SM (USD) Futures USD 1.00 

Dow Jones Sector Titans Futures USD 1.00 
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Contract Fee per Contract 

Futures on STOXX® Indices EUR 0.60 

EURO STOXX 50® Variance Futures EUR 0.60 

MSCI Futures (denominated in EUR) EUR 1.00 

MSCI Futures (denominated in GBP) GBP 1.00 

MSCI Futures (denominated in USD) USD 1.00 

OMXH25 Futures EUR 1.00 

RDX® EUR Futures EUR 0.60 

RDX® USD Futures USD 0.80 

Sensex Futures USD 0.40 

SLI Swiss Leader Index®Futures CHF 0.40 

SMI®Futures CHF 0.80 

SMIM®Futures CHF 0.40 

TA-25 Futures EUR 0.60

FX Derivatives 

FX-Futures USD 0.60 

Index Dividend Derivatives 

DAX® Kursindex 

Index Dividend Futures 

EUR 3.00 

DivDAX®

Index Dividend Futures 

EUR 3.00 

EURO STOXX 50®

Index Dividend Futures 

EUR 1.80 

EURO STOXX®50 

Index-Dividend Options 

EUR 1.80 

EURO STOXX® Sector 

Index Dividend Futures 

EUR 1.80 

EURO STOXX® Select Dividend 30 

Index Dividend Futures 

EUR 1.80 

SMI®

Index Dividend Futures 

CHF 2.40 

STOXX® Europe 600 Sector 

Index Dividend Futures 

EUR 1.80 

Stock Dividend Futures with Group ID assigned in Annex D of the Eurex Contract Specifications 

CH21 CHF 3.20 

DE21, BE21, ES21, FR21, FI21, GB23, IE21, NL21, 

IT21 

EUR 2.40 

GB21 GBP 0.60 

GB22 USD 2.40 

US21, US22 USD 2.40 

Derivatives on Exchange-traded Index Funds

Futures on Exchange-traded Shares on Index 

Funds (denominated in CHF) 

CHF 1.00 

Futures on Exchange-traded Shares on Index 

Funds (denominated in EUR) 

EUR 0.60 
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Contract Fee per Contract 

Volatility Index Products 

VSTOXX® Mini-Futures (FVS) EUR 0.40 

VSTOXX® Options EUR 0.60 

Interest Rate Derivatives 

CONF Futures CHF 0.60 

Three month-EURIBOR Futures EUR 0.40 

EONIA Futures EUR 0.80 

EUR Secured Funding Futures EUR 0.80 

Options on Three-Month EURIBOR Future, 

One-Year, Two-Year, Three-Year and Four-Year 

EURIBOR Mid-Curve Options on Three-Month 

EURIBOR Future 

Euro-Bobl-Futures, 

Options on Euro-Bobl-Futures, 

Euro-Bono-Futures, 

Euro-BTP-Futures 

Mid-Term-Euro-BTP Futures, 

Short-Term-Euro-BTP Futures, 

Euro-Bund-Futures, 

Options on Euro-Bund-Futures, 

Euro-Buxl®-Futures, 

Euro-OAT-Futures, 

Mid-Term-Euro-OAT Futures, 

Options on Euro-OAT Futures, 

Euro Schatz-Futures, 

Options on Euro-Schatz-Futures 

2-year, 5-year, 10-year and 30-year Euro Swap 

Futures 

EUR 0.40 

Property Index Derivatives

IPD® UK Annual All Industrial Index Futures GBP 16.00 

IPD® UK Annual All Office Index Futures GBP 16.00 

IPD® UK Annual All Property (Excluding Residential 

Specialist Funds) Index Futures 

GBP 16.00 

IPD® UK Annual All Retail Index Futures GBP 16.00 

IPD® UK Quarterly City Office Index Futures 

Calendar Year Returns 

GBP 16.00 

IPD® UK Quarterly Retail Warehouse Index Futures 

Calendar Year Returns 

GBP 16.00 

IPD® UK Quarterly Shopping Centre Index Futures 

Calendar Year Returns 

GBP 16.00 

IPD® UK Quarterly South Eastern Industrial Index 

Futures Calendar Year Returns 

GBP 16.00 

IPD® UK Quarterly Westend & Midtown Office Index 

Futures Calendar Year Returns 

GBP 16.00 

IPD® UK Quarterly All Property Index Futures 

Calendar Year Returns 

GBP 16.00 
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Contract Fee per Contract 

IPD® UK Quarterly All Retail Index Futures Calendar 

Year Returns 

GBP 16.00 

IPD® UK Quarterly All Office Index Futures Calendar 

Year Returns 

GBP 16.00 

IPD® UK Quarterly All Industrial Index Futures 

Calendar Year Returns 

GBP 16.00 

Precious Metal Derivatives

Gold-Futures USD 1.40 

Silver-Futures USD 1.40 

Xetra-Gold®-Futures EUR 0.40 

Gold-Options USD 1.40 

Silver-Options USD 1.40 

Xetra-Gold®-Options EUR 0.40 

Commodity Index Derivatives 

Futures on Bloomberg Indices USD 2.00 

Options on Bloomberg Indices USD 2.00 

Derivates on Exchange-traded Commodities Securities

ETFS Physical Gold Futures 

ETFS Physical Gold Options 

USD 0.40 

ETFS WTI Crude Oil Futures 

ETFS WTICrude Oil Options 

USD 1.00 

3.4 Cash Settlement 

Contract Fee per Contract 

Maximum Fee for 

Contracts on the same 

underlying of each 

A-, P- and M-accounts 

Stock Futures with in Group ID assigned in Annex A of the Eurex Contract Specifications 

AT01, BE01, DE01, ES01, FI01, 

FR01, GR01, IE01, IT01, NL01, NO01, 

PL01, PT01, SE01 

EUR 0.10 EUR 300.00 

BR01, CA01, CA02, RU01, US01, 

US02 

USD 0.15 USD 460.00 

CH01, CH02 CHF 0.15 CHF 460.00 

GB01 GBP 0.08 GBP 240.00 

Equity Index Derivatives

ATX®Futures EUR 0.30 

ATX® five Futures EUR 0.30 

CECE® EUR Futures EUR 0.30 

DAX®Futures EUR 0.50 

DivDAX®Futures EUR 0.30 

MDAX®Futures EUR 0.30 

Mini-DAX®Futures EUR 0.25 

TecDAX®Futures EUR 0.20 
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Contract Fee per Contract 

Maximum Fee for 

Contracts on the same 

underlying of each 

A-, P- and M-accounts 

Dow Jones Global Titans 50SM (EUR) 

Future 

EUR 0.30 

Dow Jones Global Titans 50SM (USD) 

Futures 

USD 0.50 

Dow Jones Sector Titans Futures USD 0.50 

Futures on STOXX® Indices EUR 0.30 

EURO STOXX 50® Variance Futures EUR 0.30 

MSCI Futures 

(denominated in EUR) 

EUR 0.50 

MSCI Futures 

(denominated in GBP) 

MSCI Futures 

(denominated in USD)

USD 0.50 

OMHEX25 Futures EUR 0.50 

RDX® EUR Future EUR 0.30 

RDX® USD Future USD 0.40 

Sensex Futures USD 0.20 

SLI - Swiss Leader Index®Futures CHF 0.20 

SMI®Futures CHF 0.40 

SMIM®Futures CHF 0.20 

TA-25 Futures USD 0.30 

Index Dividend Derivatives 

DAX® Kursindex 

Index Dividend Futures 

EUR 2.00 

DivDAX®

Index Dividend Futures 

EUR 2.00 

EURO STOXX 50®

Index Dividend Futures 

EUR 1.20 

EURO STOXX® Sector 

Index Dividend Futures 

EUR 1.20 

EURO STOXX® Select Dividend 30 

Index Dividend Futures 

EUR 1.20 

SMI®

Index Dividend Futures 

CHF 1.60 

STOXX® Europe 600 Sector 

Index Dividend Futures 

EUR 1.20 

Stock Dividend Futures with Group ID assigned in Annex D of the Eurex Contract Specifications *

Dividend of the 

underlying 

stock

CH21 

>= 1.00 

CHF 

1.60 

0.75 – 0.99 1.30 

0.50 – 0.74 1.10 

0.25 – 0.49 0.80 

< 0.25 0.30 

De21, BE21, >= 1.00 EUR 1.20 
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Contract Fee per Contract 

Maximum Fee for 

Contracts on the same 

underlying of each 

A-, P- and M-accounts 

ES21, FR21, 

FI21, GB23, 

IE21, NL21, 

IT21, GB21 

0.75 – 0.99 1.00 

0.50 – 0.74 0.80 

0.25 – 0.49 0.60 

< 0.25 0.20 

GB21 

>= 1.00 

GBP 

0.30 

0.75 – 0.99 0.26 

0.50 – 0.74 0.20 

0.25 – 0.49 0.10 

< 0.25 0.04 

GB22 

>= 1.00 

USD 

1.20 

0.75 – 0.99 1.00 

0.50 – 0.74 0.80 

0.25 – 0.49 0.60 

< 0.25 0.20 

US21, US22 

>= 1.00 

USD 

1.20 

0.75 – 0.99 1.00 

0.50 – 0.74 0.80 

0.25 – 0.49 0.60 

< 0.25 0.20 

Futures on Exchange-traded Commodities Securities

ETFS Physical Gold Futures USD 0.20 

ETFS WTICrude Oil Futures USD 0.50 

Volatility Index Products 

VSTOXX®-Mini-Futures (FVS) EUR 0.20 

Interest Rate Derivatives

EUR Secured Funding Futures EUR 0.40 

Three months-EURIBOR Futures 

EONIA Futures 

EUR 0.40 

Property Index Derivatives 

IPD® UK Annual All Industrial Index 

Futures 

GBP 8.00 

IPD® UK Annual All Office Index 

Futures 

GBP 8.00 

IPD® UK Annual All Property 

(Excluding Residential Specialist 

Funds) Index Futures 

GBP 8.00 

IPD® UK Annual All Retail Index 

Futures 

GBP 8.00 

IPD® UK Quarterly City Office Index 

Futures Calendar Year Returns 

GBP 8.00 

IPD® UK Quarterly Retail Warehouse 

Index Futures Calendar Year Returns 

GBP 8.00 

IPD® UK Quarterly Shopping Centre 

Index Futures Calendar Year Returns 

GBP 8.00 

IPD® UK Quarterly South Eastern 

Industrial Index Futures Calendar Year 

GBP 8.00 
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Contract Fee per Contract 

Maximum Fee for 

Contracts on the same 

underlying of each 

A-, P- and M-accounts 

Returns 

IPD® UK Quarterly Westend & 

Midtown Office Index Futures 

Calendar Year Returns 

GBP 8.00 

IPD® UK Quarterly All Property Index 

Futures Calendar Year Returns 

GBP 8.00 

IPD® UK Quarterly All Retail Index 

Futures Calendar Year Returns 

GBP 8.00 

IPD® UK Quarterly All Office Index 

Futures Calendar Year Returns 

GBP 8.00 

IPD® UK Quarterly All Industrial Index 

Futures Calendar Year Returns 

GBP 8.00 

Precious Metal Derivatives

Gold-Futures USD 0.70 

Silver-Futures USD 0.70 

Xetra-Gold®-Futures EUR 0.20 

Commodity Index Derivatives 

Futures on Bloomberg Indices USD 1.00 

* The fee classification for an individual Single Stock Dividend Future shall be based on the relevant 

dividend amount for such Single Stock Dividend Future on the relevant reference date, such classification 

taking effect on 1 September of each calendar year and being communicated via circular. The initial 

reference date is 14 May 2013. For the Single Stock Dividend Futures with Group ID US21 and US22, the 

initial reference date is 20.12.2013, counting all paid dividends from 21.12.2012. From 2014 onwards, the 

reference date will be the last trading day in July of each calendar year. 

3.5 Determination of the Bonds / Swaps / currency to be delivered 

(Notification) 

Contract Fee per Contract: 

Interest Rate Derivatives 

CONF Futures CHF 0.30 

Euro Bobl Futures, 

Euro-Bono-Futures, 

Euro-BTP-Futures, 

Mid-Term-Euro-BTP Futures 

Short-Term-Euro-BTP Futures, 

Euro Bund Futures, 

Euro Buxl®Futures, 

Euro-OAT-Futures, 

Mid-Term-Euro-OAT Futures, 

2-, 5-, 10- and 30-year Euro Swap Futures 

EUR 0.20 

FX Derivatives 

FX Futures USD 0.30 
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3.6 Allocation of the Bonds / Swaps / currency to be delivered 

(Allocation) 

Contract Fee per Contract 

Interest Rate Derivatives 

CONF Futures CHF 0.30 

Euro Bobl Futures, 

Euro-Bono-Futures, 

Euro BTP Futures, 

Mid-Term-Euro-BTP Futures, 

Short-Term-Euro-BTP Futures, 

Euro Bund Futures, 

Euro Buxl®

Futures, 

Euro-OAT Futures, 

Mid-Term-Euro-OAT Futures, 

Euro Schatz Futures, 

2-, 5-, 10- and 30-year Euro Swap Futures 

EUR 0.20 

FX Derivatives 

FX Futures USD 0.30 

3.7 Exercise of Options 

Contract Fee per Contract 

Stock Options with Group ID assigned in Annex B of the Eurex Contract Specifications1)

DE11, DE12, DE13, DE142) EUR 0.15 

AT11, AT12, BE11, BE12, BE13, ES11, ES12, 

ES13, FI11, FI12, FI13, FI14, FR11, FR12, FR13, 

FR14, IE11, IT11, IT12, IT13, NL11, NL12, NL13, 

NL14, SE11, US11 

EUR 0.10 

CH11, CH12, CH13, CH143) CHF 0.20 

GB11 GBP 0.15 

RU11, RU12 USD 0.15 

Equity Index Derivatives 

ATX® Options EUR 0.30 

ATX® five Options EUR 0.30 

CECE® EUR Options EUR 0.30 

DAX® Options EUR 0.50 

DivDAX® Options EUR 0.75 

MDAX® Options EUR 0.30 

TecDAX® Options EUR 0.20 

Dow Jones Global Titans 50SM (EUR) Option EUR 0.30 

EURO STOXX 50® Options EUR 0.30 

MSCI Options (denominated in EUR) EUR 0.50 

MSCI Options (denominated in USD) USD 0.50 
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Contract Fee per Contract 

OMXH25 Options EUR 0.50 

Options on STOXX® Indices EUR 0.30 

RDX® EUR Options EUR 0.30 

RDX® USD Options USD 0.40 

Sensex Options USD 0.20 

SLI - Swiss Leader Index® Options CHF 0.40 

SMI® Options CHF 1.00 

SMIM® Options CHF 0.40 

Index Dividend Derivatives 

EURO STOXX®50 Index-Dividend Options EUR 1.20 

Derivatives on Exchange-traded Index Funds 

Options on Exchange-traded Shares on Index Funds 

(denominated in CHF) 

CHF 0.50 

Options on Exchange-traded Shares on Index Funds 

(denominated in EUR) 

EUR 0.30 

FX Derivatives

FX-Options USD 0.30 

Interest Rate Derivatives4)

Options on Three-Months EURIBOR Future, 

One-Year, Two-Year, Three-Year and Four-Year 

EURIBOR Mid-Curve Options on Three-Month 

EURIBOR Future 

EUR 0.20 

Options on Euro-Bobl-Future, 

Options on Euro-Bund-Future, 

Options on Euro-Schatz-Future, 

Options on Euro-OAT Future 

EUR 0.20 

Precious Metal Derivatives 

Gold-Options USD 0.70 

Silver-Options USD 0.70 

Xetra-Gold®-Options EUR 0.20 

Commodity Index Derivatives 

Options on Bloomberg Indices USD 1.00 

Options on Exchange-traded Commodities Securities 

ETFS Physical Gold Options USD 0.20 

ETFS WTI Crude Oil Options USD 0.50 

Volatility Index Options 

VSTOXX® Options EUR 0.30 

1) For the execution of LEPOs, no fees are charged. 

2) For German Single Stock Options, the exercise fee per contract for exercises on P-Accounts 

or M-Accounts respectively is 0.10 EUR. 

3) For Swiss Single Stock Options, the exercise fee per contract for exercises on P-Accounts or 

M-Accounts respectively is 0.15 CHF. 

4) For transactions carried out after the option in the resulting Futures contract was exercised, the fees for 

the Futures on which such options are based shall be applicable respectively.
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3.8 Assignment of Options 

Contract: Fee per Contract: 

Interest Rate Derivatives * Interest Rate Derivatives

Options on Euro Bobl Future, 

Options on Euro Bund Future 

Options on Euro Schatz Future, 

Options on Euro-OAT Future 

EUR 0.20 

FX Derivatives *

FX-Options USD 0.30 

* For transactions carried out after the option in the resulting Futures contract was assigned, the 

fees for the Futures on which such options are based shall be applicable respectively. 

3.9 Delivery resulting from Futures 

Contract: Fee per Contract: 

Stock Futures with Group ID ES02 assigned in 

Annex A of the Contract Specifications 

EUR 0.15 

ETFS Physical Gold Futures USD 0.20 

ETFS WTICrude Oil Futures USD 0.50 

Futures on Exchange-traded Shares on Index 

Funds (denominated in CHF) 

CHF 0.50 

Futures on Exchange-traded Shares on Index 

Funds (denominated in EUR) 

EUR 0.30 

Xetra-Gold®-Futures EUR 0.20 

3.10 Position Transfer with Cash Transfer 

Transaction: 

Fee per Transaction and 

Exchange Participant: 

Per transaction, 

relating to products denominated in GBP 

GBP 5.00 

Per transaction, 

relating to Products denominated in EUR 

EUR 7.50 

Per transaction, 

relating to Products denominated in Swiss Francs 

CHF 13.00 

Per transactions, 

relating to products denominated in USD 

USD 13.00 
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3.11 Physical Delivery resulting from Derivatives Positions and 

Combination Transactions Option-Share 

3.11.1 Clearing Fees 

3.11.1.1 Physical Delivery from Derivatives Positions 

For derivatives positions which are fulfilled upon delivery of securities against cash 

payment, fees shall be paid for the clearing of the respective cash and security claims 

according to the following chart: 

Clearing Fee per Transaction : 

Derivatives Transactions nominated in EUR EUR 0.40 

Derivatives Transactions nominated in CHF CHF 0.65 

Derivatives Transactions nominated in GBP GBP 0.30 

Derivatives Transactions nominated in USD USD 0.55 

3.11.1.2 Physical Delivery from Combination Transactions Option-Share 

For security transactions resulting from Combination Transactions Option-Share which 

are fulfilled by delivery of securities against cash payment, fees shall be paid for the 

clearing of the respective cash and security claims according to the following chart: 

Security transactions resulting from Combination Transactions Option-Share 

Transactions Fixed Fee per Security 

Transaction 

Value-based Fee per 

Security Transaction 

Maximal Value for ValueBased Fee Calculation 

nominated in CHF CHF 0.08 0.0008% CHF 700,000.00 

nominated in EUR EUR 0.06 0.0008% EUR 500,000.00 

nominated in GBP GBP 0.05 0.0008% GBP 450,000.00 

nominated in USD USD 0.08 0.0008% USD 700,000.00 

The value-based fee per security transaction is limited insofar as a maximal value is 

assumed for security transactions according to the chart above. 

3.11.2 Fees for Delivery Management 

ECAG charges a fee for the delivery management of claims arising from Futures 

transactions underlying the delivery of shares or other non-fixed income securities 

against cash payment. ECAG shall not charge fees for the delivery management of 

claims arising from Futures transactions underlying the delivery of fixed income 

securities against cash payment. 

The fees stated in the chart shall be charged for the following security claims: 
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a) For claims determined for setoff pursuant to Chapter I Part 1 Number 1.3.1 (1) 

(b) and 1.3.1 (2) of the Clearing Conditions of ECAG,– the below-mentioned fee 

shall be charged only once together for all claims on the due date. No fee shall 

be charged, if afore-mentioned netting does not result in a claim to delivery of 

securities. 

b) For claims not determined for setoff on the due date, the below-mentioned fee 

shall respectively be charged individually. 

Delivery Management for Claims Arising from 

Futures Transactions (in Shares and Other NonFixed Income Securities) 

Fee per Security Claim of Clearing Member or 

against Clearing Member on Due Date 

Collective Safe 

Custody 

Non-Collective Safe 

Custody 

Determination of necessary security assignments 

and payment instructions 

EUR 0.60 EUR 1.50 

T2S investment cost contribution of Clearstream 

Banking AG, Frankfurt 

EUR 0.094 - 

This fee shall not be charged for instruments settled with SIX SIS AG. 

3.11.3 Settlement Fees 

For the settlement of Futures transactions underlying the delivery of shares or other nonfixed income securities held in collective safe custody against cash payment with 

Clearstream Banking AG, Frankfurt, ECAG shall charge a fee.1For the settlement of 

other Futures transactions ECAG shall not charge any fees. 

The fee specified in the chart shall be charged for the following deliveries/payments: 

a) A delivery/payment of claims determined for setoff pursuant to Chapter I Part 1 

Number 1.3.1 (1) (b) and 1.3.1 (2) of the Clearing Conditions which, however, 

cannot be set off due to the lack of a counterclaim and which shall be 

summarized to one delivery and one payment each. 

b) A delivery/payment of claims not determined for setoff which shall each be 

delivered/paid individually. 

If the maximum size of a delivery is exceeded and if, as a result, several deliveries are 

arranged for, the settlement fee shall be charged for each of these deliveries/payments. 

 

1

Therefore, Clearstream Banking AG, Frankfurt shall not charge any additional fees for the settlement of such transactions. 
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If subscription rights on open claims are granted, no settlement fees for the resulting 

security assignments and payment instructions shall be charged. 

For securities not nominated in EUR or CHF, the settlement fee for security assignment 

and payment instruction shall be charged in one position. 

Settlement of Futures Transactions (in 

Shares and Other Non-Fixed Income 

Securities held in collective safe custody) 

with Clearstream 

Fees per Delivery/Payment 

Payment Instruction EUR 0.15 

Security Assignment EUR 0.125 

T2S investment cost contribution of Clearstream 

Banking AG, Frankfurt 

EUR 0.094 

For the settlement of a futures transactions by delivery/payment with Euroclear 

UK&Ireland, Eurex Clearing AG charges the following fee: 

Settlement of Futures Transactions with 

Euroclear UK & Ireland 

Fees per Delivery/Payment 

CCP Settlement Fee GBP 0.425

Settlement Service Fee GBP 0.22 

3.12 Fees related to GMEX IRS Constant Maturity Futures 

For transactions in GMEX IRS Constant Maturity Futures ECAG shall charge the following 

fees in addition to the transaction fees for matching and recording of transactions as 

outlined in Chapter 3.1. 

3.12.1 Maintenance Fees for GMEX IRS Constant Maturity Futures 

(1) For open positions in GMEX IRS Constant Maturity Futures in Principal Position 

Accounts the daily accrued maintenance fee shall be as follows: 

2-3 year GMEX IRS Constant 

Maturity Futures 

EUR 0.00274 

4-8 year GMEX IRS Constant EUR 0.00137 
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The maintenance fee shall be determined on a daily basis and calculated at the end of 

each calendar month. 

(2) For open position in GMEX IRS Constant Maturity Futures in Agent Position Accounts 

the daily accrued maintenance fee shall be as follows: 

The maintenance fee shall be determined on a daily basis and calculated at the end of 

each calendar month. 

(3) The maintenance fee shall be charged during the relevant Calculation Period at the 

end of each calendar month based on the actual number of days in the relevant 

calendar month. 

3.12.2 Fees for the CMF Market Integrity Process 

For each CMF Market Integrity Process requested by a CMF Participant in GMEX IRS 

Constant Maturity Futures, ECAG shall charge the following fees: 

(1) If a CMF Participant requests a CMF Market Integrity Process for a GMEX IRS Constant 

Maturity Future in a specific tenor pursuant to Chapter II, Number 2.8.6 Paragraph (4) of the 

Clearing Conditions, ECAG shall charge a fee of EUR 5,000 independent of the amount of 

contracts and the result of the First CMF MIP Assessment. 

(2) If a CMF Participant confirms that it wishes to proceed with the CMF MIP according to 

Chapter II, Number 2.8.6 Paragraph (7) b) of the Clearing Conditions, ECAG shall charge a 

fee of EUR 50,00 per contract independent of the result of the Second CMF MIP 

Assessment.. In case the total amount of the fee is below EUR 1,000.00, ECAG shall 

charge a minimum fee of EUR 1,000.00. 

Maturity Futures 

9-30 year GMEX IRS Constant 

Maturity Futures 

EUR 0.000685 

2-3 year GMEX IRS Constant 

Maturity Futures 

EUR 0.003288 

4-8 year GMEX IRS Constant 

Maturity Futures 

EUR 0.001644 

9-30 year GMEX IRS Constant 

Maturity Futures 

EUR 0.000822 
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3.13 Self-Match Prevention 

The Self-Match Prevention functionality (SMP) for Order Book Transactions is an optional 

Eurex functionality that allows market participants to prevent, where appropriate, own buy 

and sell orders, from matching with each other (“Prevented Transactions”). 

Prevented Transactions are treated in terms of fees and rebates equal to executed 

Transactions. The fees and rebates pursuant to Number 3.1.1 shall hence apply mutatis 

mutandis to Prevented Transactions. 

4. Transaction Fees of Eurex Bonds GmbH 

For transactions pursuant to Chapter I Part 1 Number 5.1 of the Clearing Conditions in 

connection with transactions on Eurex Bonds GmbH pursuant to Chapter III Number 2.1 

of the Clearing Conditions (“Eurex Bonds Transactions”), ECAG shall charge fees for the 

settlement of transactions and positions as follows: 

Volume of transactions per month in 

million: 

(EUR and USD) 

Fee based on the nominal value:

≤ 2,000 0.00050% 

> 2,000 ≤ 4,000 0.00025% 

> 4,000 0.00002% 

The fees are calculated separately for every individual transaction currency. The 

transaction volumes of different transaction currencies are not added together. 

4.1 Transaction Fees of Transactions regarding Danish Securities with 

Settlement in the Home Market Denmark (“HomemarketTransactions”) 

For transactions pursuant to Chapter I Part 1 Number 5.1 of the Clearing Conditions in 

connection with transactions on Eurex Bonds GmbH pursuant to Chapter III Number 3.1 

of the Clearing Conditions (Transactions regarding Danish Securities with Settlement in 

the Home Market Denmark (“Homemarket-Transactions”)), ECAG shall charge fees for 

the settlement of transactions and positions as follows: 

Monthly fee based on the nominal transaction value (DKK) 

0.00050% 
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5. Transaction Fees of Eurex Repo GmbH 

For transactions pursuant to Chapter I, Part 1 Number 5.1 of the Clearing Conditions in 

connection with sale and Repurchase Agreements (Repo Transactions) on Eurex Repo 

GmbH pursuant to Chapter IV Number 2.1 of the Clearing Conditions (“Eurex Repo 

Transactions”), ECAG shall charge fees for the Settlement of Repo Transactions and 

Positions: 

 Transaction fee ** for 

all Repo Transactions 

with the exception of 

GC Pooling Select 

Transaction fee ** 

for GC Pooling Select 

Repo-Transactions 

Clearing Member* 0.0035% p.a. 

Minimum fee *** 

EUR 10.00, CHF 12.00 or 

USD 14.00 respectively 

0.0070% p.a. 

Minimum fee*** 

EUR 10.00, CHF 12.00 or 

USD 14.00 respectively 

Specific Repo License Holder n.a. 0.0000 

* GCM, DCM, NCM 

** In relation to the purchase price of the Front-Leg and the period of time between the starting date for 

theFront-Leg (inclusive) and the end date for the Term-Leg of the respective Repo Transaction (exclusive), 

such calculation being made on the basis of Act/360 

*** Per concluded transaction, depending on the currency of the underlying Repo transaction 

6. Transaction Fees of the Frankfurt Stock Exchange (Frankfurter 

Wertpapierbörse, FWB)2

For activities of ECAG pursuant to Chapter I Part 1 Number 5.1 of the Clearing 

Conditions being in connection either with transactions concluded on the Frankfurt Stock 

Exchange (FWB) pursuant to Chapter V Part 1 and 2 of the Clearing Conditions 

(hereafter referred to as ”FWB transactions”) or with off-exchange entries in the 

electronic trading system of FWB pursuant to Chapter V Number 1.3 of the Clearing 

Conditions (hereafter referred to as “Xetra OTC transactions”), ECAG shall charge 

transaction fees pursuant to Number 6.1 and 6.2. ECAG shall also charge fees for 

settlement of FWB transactions performed by Clearstream Banking AG, Frankfurt and of 

Xetra OTC transactions pursuant to Number 6.3. 

 

2 Number 6 as well as the other provisions of the Price List shall also apply mutatis mutandis to the clearing of transactions 

concluded on the Stock Exchange Düsseldorf, which correspond to the characteristics of the transactions concluded on the 

Frankfurt Stock Exchange described in Chapter V of the Clearing Conditions and which are included in the clearing process 

performed by Eurex Clearing AG. 
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The service fees additionally occurring for aforementioned transactions are regulated in 

Number 9. 

6.1 Clearing Fees 

No Clearing fees shall be charged for transactions in fixed income securities until further 

notice. 

Clearing fees shall be charged once per executed order and day, irrespective of the 

number of (partial) executions of the respective order and any different execution prices. 

6.1.1 Xetra transactions in Shares and Other Non-Fixed Income Securities 

With regard to the clearing of FWB transactions (orders) and Xetra OTC transactions 

(entries) which are accordingly marked with the Market Identifier Code “XETR” in the 

electronic Clearing system of Eurex Clearing AG (“Xetra-transactions”), in shares and 

other non-fixed income securities, fixed and value-based fees according to the following 

charts shall be paid. 

Fixed Clearing Fee for Xetra Transactions in Shares and Other Non-Fixed Income 

Securities denominated in EUR 

Number of same-day executed 

orders and entries (monthly per 

trading participant and Clearing 

Member) 

Fixed Fee per same-day 

executed order 

respectively entry 3 ... 

... equates rebate on 

fixed clearing fee 

0 – 50,000 EUR 0.03 0% 

50,001 – 100,000 EUR 0.025 16 2/3 % 

100,001 – 200,000 EUR 0.02 33 1/3 % 

200,001 – 400,000 EUR 0.015 50% 

400,001 – 750,000 EUR 0.01 66 2/3 % 

750,001 – 1,500,000 EUR 0.005 83 1/3 % 

> 1,500,000 EUR 0.00 100% 

Value-based Clearing Fee for Xetra Transactions in Shares and Other Non-Fixed 

Income Securities denominated in EUR 

 

3

For FWB transactions concluded by the Xetra BEST facility and booked in the A-Account of an Order Flow Provider or the EAccount of BEST Executors, the fixed clearing fee per executed orders does not apply. 
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Value of executed orders 

and entries in mn EUR 

(monthly per trading 

participant and Clearing 

Member) 

Value-based fee ... ... equates rebate on valuebased clearing fee 

0 – 2,000 0.0008% 0% 

2,000 – 4,000 0.0007% 12.5% 

4,000 – 8,000 0.0006% 25% 

8,000 – 15,000 0.0005% 37.5% 

15,000 – 30,000 0.0004% 50% 

> 30,000 0.0003% 62.5% 

The value-based fee per same-day executed order or entry is limited insofar as a 

maximal value of 500,000 EUR is assumed for same-day executed orders or entries. 

Fixed and Value-based Clearing Fee for Xetra Transactions in Shares and Other 

Non-Fixed Income Securities not denominated in EUR 

Transactions Fixed fee per 

same-day 

executed order 

or entry 

Value-based fee Maximal value for 

value-based fee 

calculation 

Denominated in AUD AUD 0.04 0.0008% AUD 700,000.00 

Denominated in CAD CAD 0.04 0.0008% CAD 700,000.00 

Denominated in CHF CHF 0.04 0.0008% CHF 700,000.00 

Denominated in CNY CNY 0.21 0.0008 % CNY 3,500,000.00 

Denominated in GBP GBP 0.03 0.0008% GBP 450,000.00 

Denominated in JPY JPY 3.00 0.0008% JPY 55,000,000.00 

Denominated in SEK SEK 0.28 0.0008% SEK 4,500,000.00 

Denominated in USD USD 0.04 0.0008% USD 700,000.00

The value-based fee per same-day executed order or per entry is limited insofar as a 

maximal value is assumed per same-day executed order or entry according to the chart 

above. 
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6.1.2 Xetra Frankfurt Specialist transactions in Shares and Other Non-Fixed Income 

Securities 

For the clearing of FWB transactions (orders) and of Xetra-OTC transactions (entries) in 

shares and other non-fixed income securities, fees according to the following charts shall 

be paid, which are accordingly marked with the Market Identifier Code “XFRA” in the 

electronic Clearing system of Eurex Clearing AG (“Xetra Frankfurt Specialist 

transactions”).The value-based fee per same-day executed order or per entry is limited 

insofar as a maximal value is assumed per same-day executed order or entry. 

Fixed and Value-based Clearing Fee for Xetra Frankfurt Specialist Transactions in 

Shares and Other Non-Fixed Income Securities 

Transactions Fixed fee per 

same-day 

executed order or 

entry 

Value-based fee Maximal value for 

value-based fee 

calculation 

Denominated in AUD AUD 0.08 0.0008% AUD 700,000.00 

Denominated in CAD CAD 0.08 0.0008% CAD 700,000.00 

Denominated in CHF CHF 0.08 0.0008% CHF 700,000.00 

Denominated in CNY CNY 0.42 0.0008% CNY 3,500,000,00 

Denominated in EUR EUR 0.06 0.0008% EUR 500,000.00 

Denominated in GBP GBP 0.06 0.0008% GBP 450,000.00 

Denominated in JPY JPY 6.00 0.0008% JPY 55,000,000.00 

Denominated in SEK SEK 0.56 0.0008% SEK 4,500,000.00 

Denominated in USD USD 0.08 0.0008% USD 700,000.00

The value-based fee per same-day executed order respectively entry is limited insofar as 

a maximal value is assumed for same-day executed orders respectively entries. 

6.2 Fees for Delivery Management 

ECAG charges a fee for the delivery management of claims arising from FWB transactions 

in shares and other non-fixed income securities and from Xetra OTC transactions in shares 

and other non-fixed income securities. ECAG shall not charge fees for the delivery 

management of claims arising from FWB transactions in fixed income securities and from 

Xetra OTC transactions in fixed income securities. 

The fees stated in the chart shall be charged for the following security claims: 
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a) For claims determined for setoff according to Chapter I Part 1 Number 1.3.1 (1) 

(b) and 1.3.1 (2) of the Clearing Conditions of ECAG, below-mentioned fee shall 

be charged only once for all claims on the due date. No fee shall be charged if 

no claim to delivery of securities results from aforementioned netting. 

b) For claims not determined for setoff on the due date, below-mentioned fee shall 

respectively be charged individually on this day. When calculating the fee, claims 

according to Chapter V Number 2.5.3 Paragraph 3 of the Clearing Conditions 

shall be handled as netted claims. 

Delivery Management for Shares and other nonfixed income securities Fees per Security Claim of the Clearing Member 

or against the Clearing Member on the Due Date 

Collective Safe 

Custody 

Non-Collective Safe 

Custody 

Determination of necessary security assignments 

and payment instructions 

EUR 0.60 EUR 1.50 

T2S investment cost contribution of Clearstream 

Banking AG, Frankfurt 

EUR 0.094 - 

6.3 Settlement Fees 

For the settlement of FWB transactions in shares and other non-fixed income securities 

held in collective safe custody and of Xetra OTC transactions in shares and other nonfixed income securities held in collective safe custody by delivery/payment with 

Clearstream Banking AG, Frankfurt, ECAG shall charge a fee.4For the settlement of 

other FWB transactions and of other Xetra OTC transactions, ECAG shall not charge 

any fees. 

The fee listed in the chart shall be charged for the following deliveries/payments: 

a) A delivery/payment of claims determined for setoff pursuant to Chapter I Part 1 

Number 1.3.1 (1) (b) and 1.3.1 (2) of the Clearing Conditions, which, however, 

cannot be set off due to lack of a counter-claim and which shall be summarized 

to respectively one delivery and one payment each. 

 

4

Therefore, Clearstream Banking AG, Frankfurt shall not charge any additional fees for the settlement of such transactions. 
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b) A delivery/payment for claims not determined for setoff which shall each be 

delivered/paid individually. 

If the maximum size of a delivery is exceeded and, as a result, several deliveries are 

arranged for, the settlement fee shall be charged for each of these deliveries/payments. 

If subscription rights on open claims are granted, no settlement fees shall be charged for 

the resulting deliveries. 

Settlement of FWB- and Xetra OTCTransactions in Shares and Other NonFixed Income Securities held in collective 

safe custody with Clearstream 

Fees per Delivery/Payment 

Security Assignment EUR 0.125 

Payment Instruction EUR 0.15 

T2S investment cost contribution of Clearstream 

Banking AG, Frankfurt 

EUR 0.094 

7. Transaction Fees Irish Stock Exchange (ISE) 

For transactions pursuant to Chapter I Part 1 Number 5.1 of the Clearing Conditions in 

connection with transactions concluded at the Irish Stock Exchange (ISE) in securities 

and rights (ISE transactions) pursuant to Chapter VI of the Clearing Conditions, ECAG 

levies fees for the regulation and the Clearing of ISE transactions carried out by it 

(“Clearing Fees”) including clearing services (corporate actions, position management 

etc.) carried out by CrestCo Ltd. (Crest) of ISE transactions5

. 

Clearing Fees 

Fees per transaction: EUR 0.12 

 

5

ISE transactions are not included in the Gross Delivery Facility of ECAG. 
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8. Service Fees Eurex Deutschland and Eurex Zürich, Eurex Bonds 

GmbH, Eurex Repo GmbH, Frankfurt Stock Exchange (FWB) and 

Securities Lending Transactions 

For the utilisation of the services offered by ECAG in connection with the clearing, the 

regulation and the settlement of Derivatives Transactions with Physical Delivery, of 

Eurex Bonds GmbH transactions, of Eurex Repo GmbH transactions, transactions on 

the Frankfurter Wertpapierbörse (FWB) and off-exchange entries in the electronic trading 

system of FWB and Securities Lending Transactions, the following fees shall be 

charged: 

8.1 Special Service Fees Eurex Deutschland and Eurex Zürich 

8.1.1 Service Fees for Provision of Gross Delivery Management (without Netting 

Agreement) for Combination Transactions Option-Share 

For the provision of the electronically supported service for optimization of the delivery 

processes (”Gross Delivery Management”) according to Chapter I Part 1 Number 1.4.2 

of the Clearing Conditions, ECAG shall, depending on a sameday netting of claims from 

security transactions in connection with Combination Transactions Option-Share, charge 

the following fees. The value-based fee per same-day executed order or per entry is 

limited insofar as a maximal value is assumed per same-day executed order or entry. 

Provision Fee for Gross Delivery Management without same-day netting of claims held in 

collective safe custody (CSC) and in non-collective safe custody (NCSC) 

Transactions Fixed fee per security 

transaction 

Value-based fee per 

security transaction 

Maximal value for 

value-based fee 

calculation CSC NCSC CSC NCSC 

Denominated in CHF CHF 0.12 CHF 0.24 0.0003% 0.0006% CHF 700,000.00 

Denominated in EUR EUR 0.09 EUR 0.18 0.0003% 0.0006% EUR 500,000.00 

Denominated in GBP GBP 0.08 GBP 0.16 0.0003% 0.0006% GBP 450,000.00 

Denominated in USD USD 0.12 USD 0.24 0.0003% 0.0006% USD 700,000.00

8.2 Special Service Fees Frankfurter Wertpapierbörse 

8.2.1 Service Fees for Provision of Gross Delivery Management 

No service fees for provision of Gross Delivery Management with regard to transactions 

in fixed income securities shall be charged until further notice. 

For provision of the electronically supported service for optimization of the delivery 

processes (Gross Delivery Management) pursuant to Chapter I Part 1 Number 1.4.2 of 
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the Clearing Conditions, ECAG shall charge the following fees subject to a same-day 

netting of claims from FWB transactions in shares and other non-fixed income securities 

and from Xetra OTC transactions in shares and other non-fixed income securities 

pursuant to Chapter V Number 2.5 of the Clearing Conditions (Netting Agreement). 

8.2.1.1 Gross Delivery Management without Netting Agreement (“Full Service”) for 

Transactions in Shares and Other Non-Fixed Income Securities 

The provision fees “Full Service” shall be charged once per executed order and day, 

irrespective of the number of (partial) executions of the respective order and any 

different execution prices. The value-based fee per same-day executed order or per 

entry is limited insofar as a maximal value is assumed per same-day executed order or 

entry. 

Provision Fees ”Full Service” for transactions in shares and other non-fixed Income 

securities held in collective safe custody (CSC) and in non-collective safe custody (NCSC) 

Transactions Fixed Fee 

per Executed Order 

respectively Entry 6

Value-Based Fee per 

executed Order 

respectively Entry 

Maximal Value for 

value-based Fee 

Calculation

CSC NCSC CSC NCSC 

Denominated in AUD AUD 0.12 AUD 0.24 0.0003% 0.0006% AUD 700,000.00

Denominated in CAD CAD 0.12 CAD 0.24 0.0003% 0.0006% CAD 700,000.00 

Denominated in CHF CHF 0.12 CHF 0.24 0.0003% 0.0006% CHF 700,000.00 

Denominated in CNY CNY 0.60 CNY 1.20 0.0003 % 0.0006% CNY 4,000,000.00 

Denominated in EUR EUR 0.09 EUR 0.18 0.0003% 0.0006% EUR 500,000.00

Denominated in GBP GBP 0.08 GBP 0.16 0.0003% 0.0006% GBP 450,000.00 

Denominated in JPY JPY 10.0 JPY 20.0 0.0003% 0.0006% JPY 55,000,000.00 

Denominated in SEK SEK 0.84 SEK 1.68 0.0003% 0.0006% SEK 4,500,000.00 

Denominated in USD USD 0.12 USD 0.24 0.0003% 0.0006% USD 700,000.00 

8.2.1.2 Gross Delivery Management with Netting Agreement (“Extended Net Service”) for 

Transactions in Shares and Other Non-Fixed Income Securities 

The value-based provision fee shall be charged on basis of the claims of a business day 

summarized by security classes to netting units and pursuant to Chapter V Number 2.5 

of the Clearing Conditions. 

 

6

For FWB transactions concluded by the Xetra BEST facility and booked in the A-Account of an Order Flow 

Provider or the E-Account of a BEST Executors, the fixed fee per executed orders does not apply. 
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When calculating this fee, a netting of the claims shall also be assumed if, in spite of the 

netting agreement, it had not been carried out pursuant to Chapter V Number 2.5.3 

Paragraph 3 of the Clearing Conditions. 

Provision Fee “Extended Net Service” for Transactions in Shares and Other Non-Fixed 

Income Securities held in collective safe custody (CSC) and in non-collective safe custody 

(NCSC) 

Transactions Value-based Fee per Netting Unit 

CSC NCSC 

Xetra and Xetra Frankfurt Specialist 0.0006% 0.0012% 

For transactions regarding Xetra and Xetra Frankfurt Specialist, the following shall apply: 

If the provision fee “Extended Net Service” for one netting unit exceeds the fee which 

would have come about without same-day netting of the claims summarized in such 

netting unit pursuant to Number 9.2.1.1 (“Full Service”), the lower provision fee “Full 

Service” shall be charged. 

8.2.2 Service Fees for FWB Trading Participants not authorized to Clearing 

For the FWB trading participant connected to the Clearing Member (with Direct or 

General Clearing License) - such trading participants not being authorized to clearing 

(Non-Clearing Members) - a monthly service fee according to the following chart shall be 

charged by ECAG to the Clearing Member: 

Service Fees for FWB Trading Participants not authorized to Clearing 

Fee per Non-Clearing Member and Month 

EUR 200.00 

8.2.3 Service Fees for Master Data Management 

Service Fee per Change and Settlement Account 

Agreement/Cancellation of Netting Agreement and 

(in case of Netting Agreement) determination of 

Utilization / Waiver of Provision of Gross Delivery 

Management for Trading Accounts of FWB Trading 

Participants 

EUR 100.00 
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8.3 General Service Fees 

8.3.1 Service Fees for Gross Delivery Management 

Service: Fees per Transaction: 

Marking of a transaction for Gross-/Net Processing EUR 0.00 

Blocking/Releasing of a transaction via VALUES 

API 

EUR 0.04 

Blocking/Releasing of a transaction via data carrier EUR 0.06 

Manual linking of two transactions EUR 0.04 

Automatic linking of two or more transactions EUR 0.04 

Unlinking of transactions EUR 0.00 

8.3.2 Service Fees for Provision of Data via Online Requests 

The online request of transactions by a Clearing Member within a defined number of 

requests within one day (exemption limit) is free of charge. 

The exemption limit for free online requests shall comprehensively apply to all 

transactions regarding physical delivery from all futures positions (Eurex Deutschland 

and Eurex Zürich), Eurex Bonds GmbH, Eurex Repo GmbH and Frankfurter 

Wertpapierbörse (FWB) and shall be determined as follows: Exemption limit per Clearing 

Member and day = 0.5 x number of transactions. If the number of online requests 

exceeds this exemption limit one day, a fee per online request shall be charged for the 

number of requests exceeding such exemption limit. The basis for counting the online 

requests and the fee calculation are the data packages sent upon the request; such data 

package may contain up to 12 transactions. For the provision of data packages 

exceeding the exemption limit, ECAG shall charge the following fees: 

Service: Fees per Data Package 

Provision of data packages on basis of online 

requests exceeding the defined exemption limit 

EUR 0.05 

8.3.3 Service Fees for Marking and Recording of Blocked Transactions 

According to the specifications for delivery processes of transactions at Eurex 

Deutschland and Eurex Zürich (Chapter II of the Clearing Conditions), of Eurex Bonds 

transactions (Chapter III of the Clearing Conditions), of Eurex Repo transactions 

(Chapter IV of the Clearing Conditions) and of FWB transactions (Chapter V of the 
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Clearing Conditions), ECAG offers its Clearing Members a service to mark blocked 

transactions in the setoff block after conclusion of the same-day settlement (SDS2) 

respectively the day-time processing (DTP) of Clearstream Banking AG, Frankfurt, on 

the day of the settlement contractually provided for or on the day of delivery respectively 

provided for. Marked transactions shall be marked and separated as “open”, i.e. as not 

fulfilled, in respective reports regarding the relationship between the respective Clearing 

Members and its customer. 

For a marking of blocked transactions in the setoff block and their recording in reports, 

the following fees shall be charged: 

Service: 

Fees per Blocked Transaction and per Day after 

SDS2/DTP of the contractual Settlement Day 

Marking / Recording of Blocked Transactions in the 

Setoff Block after SDS2/DTP 

EUR 0.05 

When choosing “deferred cash accounting“, the transactions marked in the setoff block 

shall not be regulated, but also marked and separated as ”open”, i.e. not fulfilled, in the 

respective reports regarding the relationship between the respective Clearing Member 

and ECAG. 

For “deferred cash accounting“, additional fees of EUR 700 shall be charged per 

Clearing Member and month. 

8.3.4 Service Fees for Provision of Reports 

Service: Fee per Report and Month: 

Risk-Based-Margining Reports EUR 0.00 

Raw Data Reports for Clearing Member or 

Settlement Institution 

EUR 0.00 

Formatted Reports for Clearing Member or 

Settlement Institution 

EUR 300.00** 

Raw Data Reports or Formatted Reports for NonClearing-Members* 

EUR 300.00*** 

Securities Lending Reports (Pipe Separated 

Format) 

EUR 0.00 

GC Pooling Select Reports for Specific Repo 

License Holder via Common Report Engine (CRE) 

EUR 0.00 

* With approval by Clearing Member 

** If formatted reports of Clearing Members/Settlement Institutions are required for both transactions at FWB 

and Eurex Bonds and/or Eurex Repo, only one report provision shall be charged. 

*** If both the raw data report and the formatted report are provided at the same time, only one report 

provision shall be charged. 
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8.3.5 Service Fees for Master Data Management 

Service 

Fee per Modification and Settlement 

Account 

Change of Standard Release Procedure 

(Positive-/Negative Procedure) 

EUR 100.00 

Change of Standard Processing Procedure 

(Gross-/Net Processing) 

EUR 100.00 

Change of Settlement-Netting Unit EUR 100.00 

Change of Method of marking / separating of 

blocked Transactions 

EUR 100.00 

Deletion/Addition of a Settlement Account EUR 100.00 

9. Service Fees for Collaterals, Clearing Fund Contributions and Funds 

provided for the Fulfilment of Own Funds or equivalent Regulatory 

Capital Requirements 

9.1 Service Fees for Eligible Margin Assets in the Form of Cash 

For Eligible Margin Assets in the form of cash delivered as cover, a fee will be charged. 

The fee will be charged on the entire Eligible Margin Assets in the form of cash delivered 

by Clearing Members. 

The fee for Eligible Margin Assets in the form of cash delivered as cover is determined 

according to the currency in which the delivery of Eligible Margin Assets in form of cash 

by the Clearing Member occurs. The respective fee therefore amounts to in case of cash 

in: 

CHF: 0.20% p.a. 

EUR: 0.20% p.a. 

GBP: 0.50% p.a. 

USD: 0.50% p.a. 

The calculation of the fee will be performed act / 365 based on the value of the Eligible 

Margin Assets in the form of cash delivered and recorded in the Internal Margin Account 

(Chapter 1 Part 2 Number 4.2), the Segregated Internal Margin Account (Chapter 1 

Part 3 Subpart A Number 4.1.2) and the Internal Net Omnibus Margin Account 

(Chapter 1 Part 4 Number 4.2) of the Clearing Member. 

ECAG principally reserves the right to charge a lower fee. 

9.2 Service Fees for Eligible Margin Assets in the Form of Securities 

For Eligible Margin Assets in the form of securities or book-entry securities (Wertrechte) 

delivered as cover, a fee in the corresponding clearing currency will be charged daily in the 
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amount of 0.05 per cent p.a. if the ratio of Eligible Margin Assets in the form of cash to the 

margin requirements is equal to or exceeds 30:100, 0.075 per cent p.a. if the ratio of 

Eligible Margin Assets in the form of cash to the margin requirements is between 15:100 

and 29.99:100, and 0.10 per cent p.a. if the ratio of Eligible Margin Assets in the form of 

cash to the margin requirements is between 0:100 and 14.99:100. For Eligible Margin 

Assets in the form of securities or book-entry securities (Wertrechte) which are delivered 

through the GC Pooling reuse functionality, a fee in the corresponding clearing currency 

will be charged daily in the amount of 0.03 per cent p.a. The calculation of the fee will be 

performed act / 365 based on the value of the eligible margin assets in the form of 

securities or book-entry securities (Wertrechte) delivered to cover margin requirements 

which are recorded in the Internal Margin Account (Chapter 1 Part 2 Number 4.2), the 

Segregated Internal Margin Account (Chapter 1 Part 3 Subpart A Number 4.1.2) and the 

Internal Net Omnibus Margin Account of the Clearing Member. Therefore, 

a) Eligible Margin Assets in the form of securities or book-entry securities 

(Wertrechte) recorded in the margin accounts whose delivery is not required to 

cover the respective margin requirements, 

b) margin requirements determined for OTC Interest Rate Derivative Transactions 

relating to Registered Customers 

are not part of the calculation basis. 

9.3 Service Fees for intra-day Exchange of Eligible Margin Assets 

In accordance with the specifications determined by ECAG for an intra-day exchange of 

Eligible Margin Assets in the form of cash as deposited for Eligible Margin Assets in the 

form of securities or book-entry securities (Wertrechte) respectively the intra-day 

exchange of Eligible Margin Assets in the form of securities or book-entry securities 

(Wertrechte) as deposited for Eligible Margin Assets in the form of securities or bookentry securities (Wertrechte) other than those deposited, ECAG shall charge a service 

fee in the amount of EUR 50.00 or CHF 80.00 for each such exchange. 

The respective service fees shall be charged without turnover tax. 

9.4 Service Fees for Clearing Fund Contributions 

For Clearing Fund Contributions in the form of cash Number 9.1 applies mutatis

mutandis. 

For Clearing Fund Contributions in the form of securities, no service fees are charged. 

9.5 Service Fees for Funds provided for the Fulfilment of Own Funds or 

equivalent Regulatory Capital Requirements 

For funds in the form of cash provided for the fulfilment of own funds or equivalent 

regulatory capital requirements Number 9.1 applies mutatis mutandis. 
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For funds in the form of securities provided for the fulfilment of own funds or equivalent 

regulatory capital requirements, no service fees are charged. 

10. Transaction Fees for OTC Interest Rate Derivative Transactions 

For the clearing of OTC Interest Rate Derivative Transactions pursuant to Chapter VIII 

Part 2 of the Clearing Conditions, ECAG will charge fees for the clearing and settlement 

of OTC Interest Rate Derivative Transactions and positions– as far as the OTC Interest 

Rate Derivative Transaction has been novated pursuant to Chapter VIII Part 1 and Part 2 

of the Clearing Conditions (“CCP Transaction”) - as follows: 

10.1 Clearing Fees 

The fees outlined in Numbers 10.2 to 10.5 apply to OTC Interest Rate Derivative 

Transactions (Chapter VIII Part 2 of the Clearing Conditions). The fees charged for ZCIS 

in some respects differ from fees charged for all other OTC Interest Rate Derivative 

Transactions (IRS, OIS and FRA). Numbers 10.2 to 10.5 therefore differentiate between 

ZCIS on the one hand and IRS, OIS and FRA on the other hand. In general, the fees are 

based on the underlying cleared notional amount (the “OTC Interest Rate Derivate 

Notional Amount”) and the currency of the relevant transaction. In addition, 

Numbers 10.2 to 10.5 apply to the calculation of the respective fee. 

10.2 Standard Pricing Model 

This Number 10.2 describes: 

the standard pricing model applying to IRS, OIS and FRA, unless ECAG has 

granted a Registered Customer upon its request access to the High Turnover 

Pricing Model pursuant to Number 10.3 or has granted a Clearing Member upon 

its request access to the Rebate Scheme pursuant to Number 10.5 and 

the standard pricing model applying to ZCIS unless ECAG has granted a 

Clearing Member upon its request access to the Rebate Scheme pursuant to 

Number 10.5. 

10.2.1 Booking fee per OTC Interest Rate Derivative Transaction 

“Maturity Premium” means in each Calculation Period an amount equal to 

EUR 0.75 for IRS, OIS and FRA; and 

EUR 1.125 for ZCIS 

(in case the relevant Trade Currency is not Euro, the same amount (0.75 or 1.125 

respectively) shall be applied in the relevant Trade Currency without currency 

conversion) per million OTC Interest Rate Derivative Notional Amount in the relevant 

Trade Currency multiplied by the Day Count Fraction. 
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“Day Count Fraction” means the actual number of days in a Calculation Period, divided 

by 365. 

“Calculation Period” means (a) with respect to the Maturity Premium, the period from 

(and including) the novation pursuant to Chapter VIII Part 2 Number 2.1.4.3 of the 

Clearing Conditions to (and including) the Termination Date of the OTC Interest Rate 

Derivative Transaction pursuant to Chapter VIII Part 2 Number 2.3.1 and 2.4.4 of the 

Clearing Conditions and (b) with respect to the maintenance fee under Number 10.2.3 

below, the period from (and including) the novation pursuant to Chapter VIII Part 2 

Number 2.1.4.3 of the Clearing Conditions to (and including) the earlier of (i) the 

Termination Date of the OTC Interest Rate Derivative Transaction pursuant to 

Chapter VIII Part 2 Number 2.3.1 and 2.4.4 of the Clearing Conditions and (ii) in case of 

a termination of the relevant OTC Interest Rate Derivative Transaction in accordance 

with Chapter VIII Part 2 Number 2.8 of the Clearing Conditions prior to the respective 

Termination Date pursuant to Chapter VIII Part 2 Number 2.3.1 and 2.4.4 of the Clearing 

Conditions, the date, on which the termination or the De-Clearing, as the case may be, 

becomes effective. 

“Maximum Booking Fee” means an amount equal to 

EUR 18.00 for IRS, OIS and FRA; and 

EUR 27.00 for ZCIS 

(in case the relevant Trade Currency is not Euro, the same amount (18.00 or 27.00 

respevtively) shall be applied in the relevant Trade Currency without currency 

conversion) per million OTC Interest Rate Derivative Notional Amount in the respective 

Trade Currency. 

“Trade Currency” means the currency, in which the relevant OTC Interest Rate 

Derivative Transaction was entered into. 

(1) For each OTC Interest Rate Derivative Transaction (Chapter VIII Part 2 of the Clearing 

Conditions) a fixed booking fee per OTC Interest Rate Derivative Transaction (“Fixed 

Booking Fee”) of 

EUR 0.25 for IRS, OIS and FRA; and 

EUR 0.375 for ZCIS 

(in case the relevant Trade Currency is not Euro, the same amount (0.25 or 0.375 

respectively) shall be applied in the relevant Trade Currency without currency 

conversion) per million OTC Interest Rate Derivative Notional Amount in the respective 

Trade Currency shall be paid by the relevant Clearing Member. 

(2) In addition to the Fixed Booking Fee pursuant to Paragraph (1), the relevant Clearing 

Member shall pay the Maturity Premium (together with the Fixed Booking Premium the 

“OTC Interest Rate Derivative Booking Fee”) to ECAG. If such OTC Interest Rate 

Derivative Booking Fee exceeds the Maximum Booking Fee, the relevant Clearing 

Member shall only pay the amount equal to the Maximum Booking Fee to ECAG. 
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(3) The OTC Interest Rate Derivative Booking Fee shall exclusively be paid by the 

Clearing Member with the invoice, issued for the relevant calendar month. By payment 

of the OTC Interest Rate Derivative Booking Fee, all services to be provided by ECAG 

in relation to an OTC Interest Rate Derivative Transaction pursuant to Chapter VIII 

Part 2 Number 2.1.4.3 Paragraph (4), Number 2.6 (with the exception of Trade Netting 

Fees in accordance with Number 10.6.1), Number 2.7 (except for the transfer of an 

OTC Interest Rate Derivative Transaction to another Clearing Member (Trade 

Transfer) pursuant to Number 2.7.1) and Number 2.8 of the Clearing Conditions shall 

be covered. 

(4) For each transfer of an OTC Interest Rate Derivative Transaction to another Clearing 

Member (Trade Transfer) pursuant to Chapter VIII Part 2 Number 2.7.1 of the Clearing 

Conditions, ECAG may charge the respective Transferee Clearing Member a 

percentage of the originally calculated OTC Interest Rate Derivative Booking Fee for 

the relevant OTC Interest Rate Derivative Transaction. Such percentage is currently 

equal to zero. 

(5) For the novation of the Bulk Backloaded Original OTC Transactions pursuant to 

Chapter VIII Part 2 Number 2.1.4.5 of the Clearing Conditions, ECAG shall charge the 

respective Clearing Member a percentage of the originally calculated OTC Interest 

Rate Derivative Booking Fee for the relevant OTC Interest Rate Derivative 

Transaction. Such percentage is currently equal to 30 per cent. 

10.2.2 Rebate scheme on the OTC Interest Rate Derivative Booking Fee for Registered 

Customers 

(1) A Registered Customer shall receive a rebate on the booking fee calculated based on 

standard pricing model, if the member exceeds certain threshold of the cumulated 

cleared notional as shown in the following table. ZCIS, IRS, OIS and FRA contribute 

to the calculation of the cumulated cleared notional and the Rebate scheme as 

shown in the table below applies. 

(2) These thresholds are defined for the cumulated cleared notional at the end of the 

month. Own accounts (P-Accounts and M-Accounts) and customer accounts (AAccounts) of the Clearing Members are not eligible for this rebate scheme. 

(3) The calculation of the cumulated cleared notional is based on a 12-months-period 

starting on the day ECAG granted the Clearing Member access to the rebate scheme 

and ending with the expiration of the 12th month following the starting day. 

(4) The rebate shall be calculated at the end of each month and be granted per trade in 

the trade currency of the product. 

Thresholds for the cumulated 

cleared notional 

(billion Euro) considering ZCIS, IRS, OIS 

Rebate applied to the booking fee 

calculated based on the standard 

pricing model 
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and FRA 

cleared notional ≤ 240 0% 

240 ≤ cleared notional ≤ 720 15% 

720 ≤ cleared notional ≤ 1,500 25% 

1,500 ≤ cleared notional 35% 

10.2.3 Maintenance fee 

(1) The maintenance fee shall be 

EUR 0.007 for IRS, OIS and FRA; and 

EUR 0.028 for ZCIS 

(in case the relevant Trade Currency is not Euro, the same amount (0.007 or 0.028 

respectively) shall be applied in the relevant Trade Currency without currency 

conversion) per million OTC Interest Rate Derivative Notional Amount and day in the 

relevant Trade Currency. The maintenance fee for current OTC Interest Rate 

Derivative Transactions shall be determined on a daily basis and calculated at the end 

of a calendar month. Number 14 Paragraph (4) shall not apply. 

(2) The maintenance fee shall be charged during the relevant Calculation Period at the 

end of each calendar month based on actual number of days in the relevant calendar 

month. 

10.2.4 Rebate scheme on the maintenance fee for Registered Customers 

(1) A Registered Customer shall receive a rebate on the maintenance fee calculated 

based on the standard pricing model if the member exceeds certain thresholds of the 

outstanding notional as shown in the following table. ZCIS, IRS, OIS and FRA 

contribute to the calculation of the cumulated cleared notional and the Rebate 

scheme as shown in the table below applies. 

(2) The defined thresholds are for the outstanding notional at the end of each month. 

Own accounts (P-Accounts and M-Accounts) and customer accounts (A-Accounts) of 

a Clearing Member are not eligible for this rebate scheme. 

(3) The rebate shall be calculated at the end of each month and be granted per trade in 

the trade currency of the product. 

Thresholds for the outstanding 

notional at the end of the month 

Rebate applied to the maintenance fee 

calculated based on the standard 
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(billion Euro) considering ZCIS, IRS, 

OIS and FRA 

pricing model 

Outstanding notional ≤ 240 0% 

240 ≤ outstanding notional ≤ 720 15% 

720 ≤ outstanding notional ≤ 1,500 25% 

1,500 ≤ outstanding notional 35% 

10.3 High Turnover Pricing Model for IRS, OIS and FRA of Registered 

Customers 

ECAG shall only grant a Clearing Member access to the High Turnover Pricing Model 

outlined in this Number 10.3 with regard to RC-Related Transactions with a specific 

Registered Customer pursuant to Chapter I Part 1 Number 1.1.6 in connection with 

Appendices 2 and 3 of the Clearing Conditions upon corresponding request of such 

Registered Customer. 

10.3.1 Booking fee 

(1) The Fixed Booking Fee for RC-Related Transactions of a Clearing Member in relation 

to specific Registered Customers, payable by the relevant Clearing Member, shall be 

equal to the amount per million IRS, OIS and FRA Notional Amount in the relevant 

Trade Currency as specified in the table below. If such OTC Interest Rate Derivative 

Booking Fee exceeds the maximum booking fee (as specified below), the relevant 

Clearing Member shall only pay the amount equal to such maximum booking fee to 

ECAG. If the Fixed Booking Fee exceeds the minimum booking fee (as specified 

below), the relevant Clearing Member shall pay the amount equal to such minimum 

booking fee to ECAG. 

Booking Fix Fee per million 

IRS, OIS and FRA Notional 

Amount in Trade Currency 

Booking fee floor per IRS, OIS 

and FRA 

Minimum Maximum Booking 

Fee (CAP) per IRS, OIS and 

FRA 

EUR 0.100 

(in case the relevant Trade 

Currency is not Euro, the same 

amount (0.100) shall be applied 

in the relevant Trade Currency 

without currency conversion) 

EUR 10.00 

EUR 30.00 

(if the Trade Currency is not 

Euro, the amount shall be 

converted in the respective 

Trade Currency of the product. 

The conversion calculation is 

based on the daily exchange 

rate provided by the European 

Central Bank) 
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(2) The Fixed Booking Fee pursuant to this pricing model shall be charged with the 

invoice, issued for the relevant calendar month. By payment of the Fixed Booking Fee 

in accordance with this pricing model, all services to be provided by ECAG in relation 

to the relevant RC-Related Transaction of such Clearing Member in relation to a 

specific Registered Customer pursuant to Chapter VIII Part 2 Number 2.1.4.3 

Paragraph (4), Number 2.6 (with the exception of Trade Netting Fees in accordance 

with Number 10.6.1), Number 2.7 and Number 2.8 of the Clearing Conditions shall be 

covered. 

10.3.2 Maintenance fee 

The maintenance fee, payable by the relevant Clearing Member, for RC-Related 

Transactions of such Clearing Member in relation to a specific Registered Customer will 

be calculated daily based on the relevant Margin Requirement and charged on a monthly 

basis. The aggregate amount of all Margin Requirements (each calculated on a daily 

basis) per month shall be multiplied by 0.10 per cent and the corresponding result shall 

then be divided by 365 (respectively 366). 

10.4 Change between the Standard Pricing Model and the High Turnover 

Pricing Model 

The change between the Standard Pricing Model and the High Turnover Pricing Model 

will only be granted upon request of the relevant Clearing Member. The receipt by ECAG 

of such request will trigger a one month processing period. The respective other pricing 

model shall be applied as of the first calendar day of the calendar month following the 

expiry of such processing period. The High Turnover Pricing Model is only available for 

IRS, OIS and FRA. For ZCIS, a change between Standard Pricing Model and High 

Turnover Pricing Model is not possible. 

10.5 Rebate Scheme for Clearing Members’ Own Accounts 

The rebate scheme outlined in this Number 10.5 shall apply exclusively to Clearing 

Members pursuant to Chapter I Part 1 Number 1.1.3 of the Clearing Conditions, whom 

ECAG has granted access to this rebate scheme. 

(1) ECAG will grant Clearing Members access to the rebate scheme exclusively upon 

request. The receipt of such request will initiate a one-month processing period. The 

participation of the relevant Clearing Member in the rebate scheme will begin on the 

first calendar day of the calendar month following such processing period. ECAG will 

invoice the respective Clearing Member a corresponding annual fixed fee in 12 equally 

divided instalments, payable for each month of the rebate scheme at the beginning of 

each following month. The rebates (as specified below) are exclusively based on the 

cumulated cleared notional in relation to OTC Interest Rate Derivative Transactions 

(Chapter VIII Part 2 of the Clearing Conditions) that have been booked on Own 
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Accounts of a Clearing Member and are applicable to the booking fee calculated based 

on the standard pricing model. 

(2) The cumulated cleared notional calculation is based on a 12-months-period starting on 

the day ECAG granted the Clearing Member access to the rebate scheme and ending 

with the expiration of the 12th month following the starting day. The access of the 

relevant Clearing Member to the rebate scheme shall be automatically extended to 

another 12 months, unless the relevant Clearing Member has terminated its 

participation in the rebate scheme with a notice period of one month prior to the end of 

the relevant 12-months-period. When calculating the applicable rebates the cumulated 

cleared notional since the beginning of the 12-months-period is taken into account. The 

calculation of the respective cumulated cleared notional shall be made in Euro. 

Notionals in other currencies shall be converted to Euro based on the last exchange 

rate of the European Central Bank for the relevant calendar month. The rebates will be 

granted per trade in the trade currency of the product. Once the clearing member 

exceeds the cumulated cleared notional threshold, corresponding to the chosen rebate 

pack, the rebate on the booking fee calculated based on the standard pricing model 

will be applied till end of the respective one year period. 

a) Rebate scheme for IRS, OIS and FRA:

Gold pack Silver pack Bronze pack 

Fixed fee (million Euro) per annum per pack 2.75 1.75 0.75 

Threshold: cumulated cleared notional in 

billion Euro 

no threshold 2,000 200 

Rebate in % on the fee calculated based on 

the standard fee model (above threshold) 

n.a. 75% 75% 

b) Rebate scheme for ZCIS: 

Gold pack Silver pack 

Fixed fee per annum per pack EUR 375,000 EUR 70,000 

Threshold: cumulated cleared notional in 

billion Euro 

no threshold 8 

Rebate in % on the fee calculated based on 

the standard fee model (above threshold) 

n.a. 60% 

10.6 Fees for Post Trade Events 

For Multilateral Compression and Trade Netting pursuant to Chapter VIII Part 2 Numbers 

2.5 and 2.6 of the Clearing Conditions, ECAG charges transaction fees as follows: 
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10.6.1 Trade Netting Fees 

For notional amounts terminated within the third netting level ("Rate Blending"), ECAG 

charges fees according to the table below. Notional amounts terminated within the first 

netting level (“Basic Netting”) or the second netting level (“Fee Netting”) are not subject to 

fees. 

Clearing Fees for notional amounts terminated due to Rate Blending 

Transactions Fixed Fee in trade currency per million trade notional 

terminated, where applicable exclusive of the notional of 

the resulting trade(s) 

Terminated Trade 0.3 

Resulting Trade Fees are calculated in accordance with Standard Pricing Model, 

High Turnover Pricing Model for Registered Customers and 

Rebate Scheme for Clearing Members’ Own Accounts as 

applicable pursuant to Numbers 10.2 to 10.5 

10.6.2 Multilateral Compression 

For Multilateral Compression, ECAG charges fees for notional amounts terminated 

pursuant to Chapter VIII Part 2 Number 2.5 of the Clearing Conditions according to the 

table below: 

Clearing Fees for notional amounts terminated due to Multilateral Compression 

Transactions Fixed Fee in trade currency per million trade notional 

terminated, where applicable exclusive of the notional of 

the resulting trade(s) 

Terminated Trade 0.15 

Resulting Trade Fees are calculated in accordance with Standard Pricing Model, 

High Turnover Pricing Model for Registered Customers and 

Rebate Scheme for Clearing Members’ Own Accounts as 

applicable pursuant to Numbers 10.2 to 10.5 

11. Clearing Fees and Service Fees for Securities Lending Transactions 

For Securities Lending Transactions pursuant to Chapter IX of the Clearing Conditions, 

ECAG, as of 1 April 2013, shall charge fees for the clearing and settlement of Securities 

Lending Transactions and for the maintenance of and additional services with respect to 

open Securities Lending Transactions – as far as such Securities Lending Transactions 

have been novated by ECAG pursuant to Chapter IX of the Clearing Conditions (“CCP 

Transaction”) – as follows: 
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11.1 Clearing Fees 

11.1.1 Transaction Fees 

For the processing of opening and closing transactions and for the daily mark to market of 

open Securities Lending Transactions, fees according to below-listed table shall be 

charged: 

Clearing Fees for Securities Lending Opening Transactions 

Transactions Fixed Fee per Transaction

Transaction Currency EUR EUR 2.00 

Transaction Currency USD USD 3.00 

Clearing Fees for Securities Lending Closing Transactions 

Transactions Fixed Fee per Transaction

Transaction Currency EUR EUR 2.00 

Transaction Currency USD USD 3.00 

Clearing Fees for Mark to Market of open Securities Lending Transactions 

Transactions Fixed Fee per Open Transaction per 

Calendar Day

Transaction Currency EUR EUR 0.20 

Transaction Currency USD USD 0.30 

11.1.2 Maintenance Fees 

For the maintenance of open Securities Lending Transactions ECAG shall charge fees for 

each day a Securities Lending Transaction is open. A value-based fee shall be charged 

according to the following table: 

Maintance Fees for Open Securities Lending Transactions 

Transactions Value-Based Fee per Open Transaction

Transaction Currency EUR 0.01% p.a. 

Transaction Currency USD 0.01% p.a. 

11.2 Service Fees 

For the utilisation of the services offered by Eurex Clearing AG in connection with 

Securities Lending Transactions, the following fees shall be charged: 
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11.2.1 Service Fees for Cancellation of Securities Lending Transactions 

A fixed fee shall be charged per cancellation of an opening transaction. 

Service Fees for Securities Lending Transactions 

Service Fixed Fee per Transaction

Cancellation Transaction EUR 20.00 

11.2.2 Service Fees for the Calculation and Payment of Lending Fees and Rebates 

A fixed fee shall be charged per Securities Lending Transaction and per month for the 

calculation and payment of Lending Fees and Rebates. The total fee amount per month 

will be limited. 

Service Fees for Securities Lending Transactions 

Service Fixed Fee per Transaction 

per Month

Maximum Fee Amount per 

Clearing Member per Month 

Calculation and Payment of Lending 

Fees and Rebates 

EUR 2.00 EUR 1,000.00 

11.2.3 Service Fees for Re-rate of Lending Fees and Rebates 

A fixed fee shall be charged for each adjustment of the Lending Fee or Rebate (Re-rate) of 

a Securities Lending Transaction. The total fee amount per month will be limited. 

Service Fees for Securities Lending Transactions 

Service Fixed Fee per Re-rate Maximum Fee Amount per 

Clearing Member per Month 

Re-rate Transaction EUR 0.50 EUR 1,000.00 

11.2.4 Service Fees for Corporate Actions Processing 

A fixed fee shall be charged per Securities Lending Transaction for each cash distribution 

triggered by a corporate action on the loan securities pursuant to Chapter IX Number 2.4.1 

(1) of the Clearing Conditions. The total fee amount per month will be limited. 

Service Fees for Securities Lending Transactions 

Service Fixed Fee per Cash 

Distribution and Transaction 

Maximum Fee Amount per 

Clearing Member per Month 

Corporate Action: Cash Compensation EUR 2.00 EUR 1,000.00 
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11.2.5 Service Fees for Dispute Resolution Procedure 

Until and including 31 March 2016 no Service Fees pursuant to Number 15.1 of the 

Dispute Resolution Rules in connection with a Dispute Resolution Procedure in 

accordance with the Dispute Resolution Rules will be charged from the Lender Clearing 

Members or Borrower Clearing Members. 

The Service Fees applicable as of 1 April 2016 will be set out and published in time in 

this Price List for Eurex Clearing AG. 

12. Due Dates 

(1) The fees to be paid for the Clearing Membership pursuant to Number 1 shall be 

due for payment as follows: 

a) The admittance fee pursuant to Number 1 Paragraph 1 letter a) shall be due 

for payment at the time of the granting of the Clearing Membership. 

b) The annual fees pursuant to Number 1 Paragraph 1 letter b) shall be payable 

by the end of the month of January. 

If a Clearing Membership is granted after the first quarter of the calendar year, the 

annual fee for such year shall be calculated on a pro rata basis based on the 

remaining calendar quarters, including the quarter of admission; such fee shall be 

payable upon receipt of an invoice. 

In case the Clearing Member resigns the clearing license, ECAG shall remunerate 

the fee for the current year on a pro-rata basis. The portion of the fees which would 

be charged for the quarters following the resignation shall be remunerated. 

(2) The connection fees pursuant to Number 2 shall be due for payment upon receipt 

of the invoice. 

(3) The transaction fees or service fees pursuant to Number 3, to Number 9 shall be 

due for paymenton the third Exchange day of the calendar month following the 

relevant transaction or the use of the relevant services. 

(4) Transaction fees according to Number 5, Number 6 and Number 9 in the 

currencies CNY, SEK, JPY, AUD and CAD are charged to the Clearing Member in 

EUR, USD, CHF or GBP. The Clearing Member is obligated to give notice in which 

of such currencies the transaction fees shall be charged (invoice currency). The 

invoice currency may be changed by the Clearing Member at any time. When 

issuing the invoice, the invoice currency which the Clearing Member has indicated 

until the last calendar day of the invoice month shall be considered. In case the 
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Clearing Member does not indicate an invoice currency, ECAG is authorized to 

issue the invoice in EUR, USD, CHF or GBP. 

Transaction fees according to Number 3.10, Number 4, Number 5, Number 6 and 

Number 9 in the currencies USD and GBP can also be charged to the Clearing 

Member in the invoice currency requested by the Clearing Member provided that 

the Clearing Member expressly gives notice about this. 

The conversion of the transaction fees into the invoice currency shall take place at 

the last exchange rate of the European Central Bank published in the invoice 

month. 

(5) The service fees for an intra-day exchange of collaterals pursuant to Number 10 

shall be due for payment on the third Exchange day of the calendar month 

following such exchange. 

13. Applicable Law and Place of Jurisdiction 

(1) This Price List shall be subject to the laws of the Federal Republic of Germany. 

(2) Exclusive place of jurisdiction for any disputes arising in relation with this Price List 

shall be Frankfurt / Main. 

14. Amendments and Supplements 

(1) ECAG reserves the right to amend to and/or supplement the Price List. 

(2) Any amendments and / or supplements to the Price List shall be announced to the 

clearing members no later than ten business days prior to their taking effect. 

(3) The Clearing Member accepts the amendments to the Price List, provided it does 

not file an objection in writing with ECAG, within 10 business days after the 

publication. In the case of an objection against the amendments to the Price List, 

ECAG reserves the right to terminate, the Clearing License of the respective 

Clearing Member pursuant to Chapter I Part 1 Number 7.2.1 (5) of the Clearing 

Conditions for ECAG. 

(4) The respective version of the Price List valid at the time is available for download 

on the internet (www.eurexclearing.com).