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29 Oct 2025

Eurex Clearing

Fixed Income derivatives: Amendment of Liquidity Provider Schemes for Eurex Credit Index Futures

Eurex Clearing Circular 089/25 Fixed Income derivatives: Amendment of Liquidity Provider Schemes for Eurex Credit Index Futures

1.    Introduction

The Executive Boards of Eurex Frankfurt AG and Eurex Clearing AG took the following decisions, effective from 1 November 2025:

  • The Product Specific Supplement “Fixed Income 20 – Eurex EURO Credit Index Futures” for Futures on the Bloomberg MSCI Euro Corporate Screened Index and futures on the Bloomberg Liquidity Screened Euro High Yield Bond Index will be amended.
  • The Product Specific Supplement “Fixed Income 22 – Eurex Global Credit Index Futures” for futures on the Bloomberg Emerging Market USD Sovereign & Sovereign Owned Index and futures on the Bloomberg Sterling Liquid Corporate Index will be amended.

The Product Specific Supplements (PSS) will be provided as single PDF files on the Eurex website www.eurex.com under the following path:

Trade > Market-Making and Liquidity provisioning

Start of production: 1 November 2025

2.    Required action

There is no action required for participation.

3.    Details of the initiative

To further support the adoption of the existing Credit Index Futures product suite, Eurex will amend the following PSS as of 1 November 2025:

  • Fixed Income 20 – Eurex EURO Credit Index Futures, covering Bloomberg MSCI Euro Corporate Screened Index Futures (FECX) and Bloomberg Liquidity Screened Euro High Yield Bond Index (FEHY) – The Additional Supporter Incentive will be increased to EUR 80,000 per month, distributed between the top 7 Liquidity Providers. The spread- and size requirements are relaxed in EUR high yield and investment grade futures.
  • Fixed Income 22 – Eurex Global Credit Index Futures, covering Bloomberg Emerging Market USD Sovereign & Sovereign Owned Index Futures (FUEM) and Bloomberg Sterling Liquid Corporate Index Futures (FGBC). The Additional Supporter Incentive will be increased to EUR 40,000 per month. The spread requirements in the Emerging Market USD Futures will be relaxed.

Please refer to the Product Specific Supplements (PSS), which are available on the Eurex website www.eurex.com under the following link:

Trade > Market-Making and Liquidity provisioning

The amendments shall be deemed approved unless objected to Eurex Frankfurt AG and Eurex Clearing AG within a period of two weeks after notification of this circular pursuant to Number 4 (2) of the Liquidity Provider Agreement.

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.
 

Further information 


Recipients:

All Clearing Members, ISA Direct Clearing Members, Disclosed Direct Clients of Eurex Clearing AG and vendors

Target groups:

Front Office/Trading, Middle + Backoffice, IT/System Administration, Auditing/Security Coordination 

Related circular:

Eurex Circular 097/25

Contact: 

client.services@eurex.com

Web: Trade > Market-Making and Liquidity provisioning

Authorized by: 

Matthias Graulich