Equity and ETF Derivatives: Introduction of Equity Options, Single Stock Futures and Single Stock Dividend Futures and ETF Option; Handling of Equity Options on multi-market securities

1.  Introduction

Effective 3 November 2025, Eurex Clearing AG will offer clearing services for

• 43 Equity Options
• two Single Stock Futures
• eight Single Stock Dividend Futures
• one ETF Option.

In this context, the following measures will apply effective 3 November 2025:

• Amendments to the Price List of Eurex Clearing AG (Price List) as outlined in Attachment 2

For EURO STOXX 50 Dividend Mid-Curve Options, clearing ends at 18:30 CET for the expiring Mid-Curve contracts (Product ID: OED1-5), effective 24 November 2025.

Please refer to Eurex Circular 096/25 for detailed trading-related information and the related amendments to the Rules and Regulations of Eurex Deutschland.

2.  Required action

All participants with remaining open positions in Equity Options on on Ferrari (Product ID: 2FE) and Stellantis (Product ID: FIA5) are required to independently verify settlement details and consult appropriate sources before taking action regarding corporate actions, early exercise and physical settlement. The underlying shares to these Equity Options represent multi-market securities where Clearstream Europe AG (CEU) uses domestic depository DTCC and US model for Corporate Action events.

3.  Details of the initiative

A. Product overview

Please refer to Attachment 1 for the overview of the new products.

B. Contract specifications

For the detailed contract specifications, please refer to Eurex Circular 096/25.

C. Product group

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

D. Transaction fees

The transaction fees for the new products can be retrieved from the updated section of the Price List, as outlined in Attachment 2.

E. Risk parameters

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

Services > Risk parameters

F. Handling of Equity Options on multi-market securities

Participants are additionally reminded that the reference market in the Contract Specifications serve the purpose of determining a market place for the price of the share underlying the contract. Physical delivery of securities will take place via a Settlement Location (according to Chapter I Part 1 Number 1.4.2 (2) and Chapter II Part 3 Number 3.6.1 Clearing Conditions of Eurex Clearing AG) that may differ from the reference market specified in the Contract Specifications. Any corporate action related to securities involved in Equity Options transactions will be processed by the respective Settlement Location in accordance with its applicable rules. Information on the settlement location for physical deliveries of securities originating from Eurex options can be found on the Eurex Clearing website under Settlement Locations.

G. Amendments to the legal framework of Eurex Clearing AG

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

• Numbers 3.1, 3.4 of the Price List of Eurex Clearing AG

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

Rules & Regs > Eurex Clearing Rules and Regulations > 3. Price List​

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

Unless the context requires otherwise, terms used and not otherwise defined in this circular shall have the meaning ascribed to them in the Clearing Conditions or FCM Clearing Conditions of Eurex Clearing AG, as applicable.

Attachments:

• 1 – Product overview and Product Group
• 2 – Amended sections of the Price List of Eurex Clearing AG

Further information