MSCI Index Futures and Options at Eurex Exchange

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1 MSCI Futures and Options at Eurex Exchange MSCI is the index provider of choice for investors seeking broad and reliable benchmarks across a range of markets. Eurex Exchange offers the broadest complex of listed MSCI Futures and Options, available via the order book as well as via Eurex Trade Entry Services, adding to the extensive selection of equity index derivatives already offered. MSCI indexes are amongst the most widely tracked benchmarks with over 7. trillion linked to them. Additionally, MSCI indexes serve as the basis for over 0 exchangetraded funds (ETFs). The unprecedented amount of capital benchmarked against MSCI indexes and the improved tradability of index based products via ETFs has led to the increased need for futures and options as they help asset managers facilitate in and outflows of funds, hedge existing equity exposure and enhance portfolio performance. A global offering Investors can gain exposure to entire regions and countries via Eurex Exchange s MSCI index offering. The complete family of products available covers developed, emerging and frontier markets and includes a number of attractive contracts based on popular benchmark indexes: MSCI World, covering the universe of developed markets as a whole, containing more than,600 equities. MSCI Europe, the leading benchmark for European equity funds, containing more than 430 equities., measuring performance of more than 800 equities in the global emerging markets. MSCI Frontier Markets, representing 40 of the most liquid equities in the frontier markets. Regional indexes like: MSCI AC Asia Pacific ex Japan or MSCI EM Latin America. Country indexes like: MSCI Russia, MSCI Japan, MSCI India or MSCI Mexico. Assets in ETFs linked to MSCI indexes* Jan 200 Jan 20 Jan 202 Jan 203 Jan 204 MSCI Asia MSCI World MSCI Japan MSCI EMU MSCI USA MSCI Europe Others * in billion, Xetra listings only

2 Key benefits Order book trading (with onscreen Market Maker support) and offbook trading Eurex Trade Entry Services facilitated by a large number of supporting brokers for i.e. Block Trade Entry, Flexible Contracts and EFPI Services Extended trading hours; Eurex Exchange covers all European and U.S. market hours, as well as a significant part of Asian trading hours. All contracts can be transparently monitored via Bloomberg, Reuters and other data vendors. Eurex Exchange is the only exchange offering both, MSCI Futures and Options. 6 MSCI Futures are available to U.S. investors such as MSCI World, MSCI Europe and MSCI Japan as well as a number of broadbased MSCI emerging market contracts. Harmonized low trading and clearing fees for all MSCI derivatives (/ 0. per contract). Flexible minimum block trade sizes in response to Market Maker support. Eurex Clearing offers cross margining of MSCI World and Europe with DAX and O STOXX contracts, delivering significant efficiencies. Exchangetraded contracts are an attractive alternative to total return swaps especially in the light of upcoming regulatory changes. Eurex Trade Entry Services With the aim of complementing the overthecounter (OTC) equity index market, MSCI derivatives listed at Eurex Exchange can also be traded outside the order book and subsequently booked to Eurex Clearing via the Eurex Trade Entry Services. The following services are available: Block Trade Entry Flexible Contracts Vola Trades Exchange for Physicals Futures Trades (EFPI) Exchange for Swaps (EFS) Trade Entry Service via (MSCI Russia Futures) In addition, trades at index close (TAC) can be facilitated via the Block Trade Entry Service immediately the next morning. Mitigating risks through CCP clearing Eurex Clearing is one of the leading CCPs globally assuring the safety and integrity of markets while providing innovation in risk management, clearing technology and client asset protection. Eurex Clearing covers the broadest scope of products under a single framework in Europe both listed products and OTC and offers the world s widest spectrum of eligible collateral. Eurex Clearing serves more than 7 Clearing Members in 6 countries, managing a collateral pool of around 48 billion and processing gross risks valued at almost 6 trillion every month. In 204, about. billion derivatives contracts were cleared nearly half of which were traded offbook. Open interest on new MSCI derivatives listed at Eurex Exchange (in thousand)* Jan Apr Jul Oct Jan Apr Jul 4 3 Oct 204 Futures EM Options EM Futures Europe Options Europe Futures World Options World Futures Others *Including flexible trades. 2

3 Contract specifications overview MSCI Futures MSCI Options Contract value Contract terms Minimum price change Settlement or 0, or 00 per index point Up to 36 months (4 quarterly and 4 semianual maturities) Between 0.0 and index point or, 0 or 2 Cash settlement Up to 24 or 60 months (8 or 2 expirations) 0.0 (MSCI Europe) or 0. index points or or 0 Final settlement price Final settlement day Last trading day Based on the closing index level on the third Friday of the maturity/expiration month The next exchange day following the last trading day (to cover all index close levels) Third Friday of the maturity/expiration month* Continuous trading Eurex Trade Entry Services Flexible Contracts 08:00 22:00 CET 08:00 22:00 CET Available 09:00 7:30 CET 09:00 9:00 CET Trading calendar MSCI derivatives are tradable on each Eurex Exchange trading day. * If this is an exchange day both at Eurex Exchange and the home market. As Egypt, Qatar and UAE are closed on Fridays, the last trading day for MSCI Egypt, Qatar and UAE is the Thursday before the third Friday. Contract specifications multipliers and ticks per product Currency type Multiplier Minimum block trade size MSCI Europe* MSCI Europe Value* MSCI Europe Growth* MSCI Europe MSCI World* MSCI World MSCI World 0 0. MSCI AC Asia Pacific ex Japan* MSCI Frontier Markets* 0 * MSCI EM Asia* MSCI EM EMEA* MSCI EM Latin America* MSCI Chile 2 MSCI China Free* 2 MSCI Colombia 0 0 MSCI Czech Republic 2 MSCI Egypt 2 MSCI Hungary MSCI India* MSCI Japan* 0 0 MSCI Malaysia* MSCI Mexico 2 MSCI Morocco MSCI Peru 0 MSCI Philippines 2 MSCI Poland MSCI Russia 2 MSCI Russia 0 0. MSCI South Africa* MSCI Thailand* 0 MSCI World Midcap GTR 0 0 MSCI Qatar 0 MSCI UAE 0. MSCI Greece, * Futures CFTC approved

4 Contract specifications multipliers and ticks per product MSCI Pacific ex Japan MSCI UK MSCI USA MSCI Indonesia MSCI Hong Kong MSCI Australia MSCI New Zealand MSCI ACWI * Futures CFTC approved Currency GBP type Multiplier Minimum block trade size Vendor codes indexes* Bloomberg (realtime) Bloomberg (endofday)** Reuters (realtime) Reuters (endofday)** MSCI Europe M7EU MSDEEN.MIEU00000NEU.dMIEU00000NEU MSCI Europe () MXEU MSERP.MIEU00000PEU.dMIEU00000PEU MSCI Europe Growth M7EU000G MSGEU.MIEU0000GNEU.dMIEU0000GNEU MSCI Europe Value M7EU000V MSVEU.MIEU0000VNEU.dMIEU0000VNEU MSCI World ( ) MWO NDDUWI.MIWO00000NUS.dMIWO00000NUS MSCI World ( ) MXWO MSDUWI.MIWO00000PUS.dMIWO00000PUS MSCI World ( ) MBWO MSDEWIN.MIWO00000NEU.dMIWO00000NEU MSCI AC Asia Pacific ex Japan MAPJ NDUECAPF.MIAPJ0000NUS.dMIAPJ0000NUS MSCI Frontier Markets MXFM MSEUFMSN.MI NUS.dMI NUS MEF NDUEEGF.MIEF00000NUS.dMIEF00000NUS ( ) MXEF MSEUEGF.MIEF00000PUS.dMIEF00000PUS ( ) MBEF MSDEEEMN.MIEF00000NEU.dMIEF00000NEU MSCI EM Asia MMS NDUEEGFA.MIMS00000NUS.dMIMS00000NUS MSCI EM EMEA MEE NDDUEMEA.MIEE00000NUS.dMIEE00000NUS MSCI EM Latin America MLA NDUEEGFL.MILA00000NUS.dMILA00000NUS MSCI Chile MCL NDEUSCH.MICL00000NUS.dMICL00000NUS MSCI China Free MCNX MSCNXNUS.MICN0000FNUS.dMICN0000FNUS MSCI Colombia MCO NDEUSCO.MICO00000NUS.dMICO00000NUS MSCI Czech Republic MCZ NDEUSCZ.MICZ00000NUS.dMICZ00000NUS MSCI Egypt MEG NDEUSEG.MIEG00000NUS.dMIEG00000NUS MSCI Hungary MHU NDEUSHG.MIHU00000NUS.dMIHU00000NUS MSCI India MIN NDEUSIA.MIIN00000NUS.dMIIN00000NUS MSCI Japan MJP NDDUJN.MIJP00000NUS.dMIJP00000NUS MSCI Malaysia MMY NDDUMAF.MIMY00000NUS.dMIMY00000NUS MSCI Mexico MMX NDEUMXF.MIMX00000NUS.dMIMX00000NUS MSCI Morocco MMA NDEUSMO.MIMA00000NUS.dMIMA00000NUS MSCI Peru MPE NDEUSPR.MIPE00000NUS.dMIPE00000NUS MSCI Philippines MPH NDEUPHF.MIPH00000NUS.dMIPH00000NUS MSCI Poland MPL NDEUSPO.MIPL00000NUS.dMIPL00000NUS MSCI Russia () MRU NDEUSRU.MIRU00000NUS.dMIRU00000NUS MSCI Russia () MXRU MSEUSRUS.MIRU00000PUS.dMIRU00000PUS MSCI South Africa MZA NDEUSSA.MIZA00000NUS.dMIZA00000NUS MSCI Thailand MTH NDEUTHF.MITH00000NUS.dMITH00000NUS MSCI World Midcap MWOMC MMDUWORN.MIWO000M0NUS.dMIWO000M0NUS MKO NDDUKOK.MIKO00000NUS.dMIKO00000NUS M2KO GDDUKOK.MIKO00000GUS.dMIKO00000GUS MSCI Qatar MQAR MGCUQAN.MIQA00000NUS.dMIQA00000NUS MSCI UAE MAER MGCUAEN.MIAE00000NUS.dMIAE00000NUS MSCI Greece M7GR MSDEGYN.MIGR00000NEU.dMIGR00000NEU MSCI Pacific ex Japan MPCJ NDDUPXJ.MIPCJ0000NUS.dMIPCJ0000NUS MSCI UK M7GB MGB.MIGB00000NGB.dMIGB00000NGB MSCI USA MUS NDDUUS.MIUS00000NUS.dMIUS00000NUS MSCI Indonesia M0ID NDEUINF.MIID00000NUS.dMIID00000NUS MSCI Hong Kong MHK NDDUHK.MIHK00000NUS.dMIHK00000NUS MSCI Australia MBAU NDDUAS.MIAU00000NUS.dMIAU00000NUS MSCI New Zealand MBNZ NDDUNZ.MINZ00000NUS.dMINZ00000NUS MSCI ACWI MWD NDUEACWF * If not specified, the indexes are net total return indexes. ** The endofday index is always the one into which the Eurex contracts finally settle..miwd00000nus.dmiwd00000nus 4

5 Vendor codes Eurex Exchange s MSCI Futures and Options Product Eurex Product ID Bloomberg Reuters MSCI Europe Futures FMEU ZRPA <> CT 0#FMEU: MSCI Europe Options OMEU M7EU <> OMON 0#OMEU*.EX MSCI Europe Futures FMEP RZAA <> CT 0#FMEP: MSCI Europe Options OMEP MXEU <> OMON 0#OMEP*.EX MSCI Europe Growth Futures FMEG PTPA <> CT 0#FMEGG: MSCI Europe Growth Options OEMG M7EU000G <> OMON 0#OMEGG*.EX MSCI Europe Value Futures FMEV KAYA <> CT 0#FMEV: MSCI Europe Value Options OMEV M7EU000V <> OMON 0#OMEV*.EX MSCI World Futures FMWO ZWPA <> CT 0#FMWO: MSCI World Options OMWO MWO <> OMON 0#OMWO*.EX MSCI World Futures FMWP RVPA <> CT 0#FMWP: MSCI World Options OMWP MXWO <> OMON 0#OMWP*.EX MSCI World Futures () FMWN RSWA <> CT 0#FMWN: MSCI World Options () OMWN MBWO <> OMON 0#OMWN*.EX MSCI AC Asia Pacific ex Japan Futures FMAS ZAPA <> CT 0#FMAS: MSCI AC Asia Pacific ex Japan Options OMAS MAPJ <> OMON 0#OMAS*.EX MSCI Frontier Markets Futures FMFM ZFPA <> CT 0#FMFM: Futures FMEM ZTSA <> CT 0#FMEM: Options OMEM MEF <> OMON 0#OMEM*.EX Futures FMEF RBEA <> CT 0#FMEF: Options OMEF DMSCIEF <> OMON 0#OMEF*.EX Futures () FMEN RZIA <> CT 0#FMEN: Options () OMEN MBEF <> OMON 0#OMEN*.EX MSCI EM Asia Futures FMEA ZTWA <> CT 0#FMEA: MSCI EM Asia Options OMEA MMS <> OMON 0#OMEA*.EX MSCI EM EMEA Futures FMEE ZTYA <> CT 0#FMEE: MSCI EM EMEA Options OMEE MEE <> OMON 0#OMEE*.EX MSCI EM Latin America Futures FMEL ZULA <> CT 0#FMEL: MSCI EM Latin America Options OMEL MLA <> OMON 0#OMEL*.EX MSCI Chile Futures FMCL ZUOA <> CT 0#FMCL: MSCI China Free Futures FMCN ZUYA <> CT 0#FMCN: MSCI Colombia Futures FMCO ZVBA <> CT 0#FMCO: MSCI Czech Republic Futures FMCZ ZVCA <> CT 0#FMCZ: MSCI Egypt Futures FMEY ZVDA <> CT 0#FMEY: MSCI Hungary Futures FMHU ZVEA <> CT 0#FMHU: MSCI India Futures FMIN ZVLA <> CT 0#FMIN: MSCI Japan Futures FMJP FMIA <> CT 0#FMJP: MSCI Malaysia Futures FMMY ZVOA <> CT 0#FMMY: MSCI Mexico Futures FMMX ZVPA <> CT 0#FMMX: MSCI Morocco Futures FMMA ZVRA <> CT 0#FMMA: MSCI Peru Futures FMPE ZVTA <> CT 0#FMPE: MSCI Philippines Futures FMPH ZVWA <> CT 0#FMPH: MSCI Poland Futures FMPL ZVYA <> CT 0#FMPL: MSCI Russia Futures FMRS ZWBA <> CT 0#FMRS: MSCI Russia Futures FMRU FXPA <> CT 0#FMRU: MSCI Russia Options OMRU MXRU0 <> OMON 0#OMRU*.EX MSCI South Africa Futures FMZA ZWLA <> CT 0#FMZA: MSCI Thailand Futures FMTH ZWOA <> CT 0#FMTH: MSCI World Midcap Futures FMWM ZQYA <> CT 0#FMWM: Futures (Net) FMKN ZQWA <> CT 0#FMKN: Futures (Gross) FMKG ZRAA <> CT 0#FMKG: MSCI Qatar Futures FMQA ZRDA <> CT 0#FMQA: MSCI UAE Futures FMUA ZRTA <> CT 0#FMUA: MSCI Greece Futures () FMGR ZSEA <> CT 0#FMGR: MSCI Pacific ex Japan Futures FMPX ZSIA <> CT 0#FMPX: MSCI UK Futures (GBP) FMUK ZSLA <> CT 0#FMUK: MSCI USA Futures FMUS ZSOA <> CT 0#FMUS: MSCI Indonesia Futures FMID ZSRA <> CT 0#FMID: MSCI Hong Kong Futures FMHK ZSSA <> CT 0#FMHK: MSCI Australia Futures FMAU ZTOA <> CT 0#FMAU: MSCI New Zealand Futures MSCI ACWI Futures FMNZ FMAC ZTIA <> CT ZTLA <> CT 0#FMNZ: 0#FMAC:

6 Designated Market Makers for MSCI Futures (onscreen) Participant Contact Phone Developed Markets Emerging Markets Frontier Markets Europe World Asia Pacific ex Japan Japan Regional Countries Regional Barak Capital Uri Peles BNP Paribas BNP Trading Credit Suisse Andre Lamazouade DRW Investments (UK) Ltd. Steven Hamilton Flow Traders Sjoerd Rietberg HSBC Bank plc Loic Lebrun Optiver Maarten Botman Société Générale Mathieu Besnard Susquehanna International Securities Dara Hayes Broker list A large number of brokers are supporting the Eurex products by facilitating Block Trades or other offbook trades. The full list of brokers is available on our website under > Products > Equity Derivatives > MSCI es and may help to find the right contact per index. For further information please contact Product Development Ralf Huesmann T [email protected] Sales United Kingdom Murat Baygeldi T [email protected] Sales Germany Paul Beck T [email protected] Sales Switzerland and Italy Vincenzo Zinnà T [email protected] Sales France Paul Beck T [email protected] Sales United Kingdom James Brown T [email protected] Sales Americas Vassilis Vergotis T [email protected] Sales Asia & Middle East Roland Schwinn T [email protected] Order Number: EE0930 ARBN Number: Eurex Frankfurt AG ARBN Neither Eurex Frankfurt AG (Eurex), nor its servants nor agents, is responsible for any errors or omissions contained in this publication which is published for information only and shall not constitute an investment advice. Any information herein is not intended for solicitation purposes but only for the use of general information. Eurex offers services directly to members of the Eurex market. Those wishing to trade in any products available on the Eurex market or to offer and sell any such products to others should consider both their legal and regulatory position in the relevant jurisdiction and the risks associated with such products before doing so. MSCI and the MSCI index names are service marks of MSCI Inc. ( MSCI ) or its affiliates and have been licensed for use by Eurex. Futures contracts and options contracts on any MSCI index ( Contracts ) are not sponsored, guaranteed or endorsed by MSCI, its affiliates or any other party involved in, or related to, making or compiling such MSCI index. 6