eurex circular 012/14

Transcription

1 Date: 16 January 2014 Recipients: All Trading Participants of Deutschland and Zürich and Vendors Authorized by: Mehtap Dinc Equity options: Adjustment of Market Maker obligations Action required Contact: Sascha Semroch, Development, T , [email protected] Content may be most important for: Front Office/Trading Attachments: none Middle + Backoffice IT/System Administration Summary: Effective 3 February 2014 the quotation requirements for Market Makers in equity options at Exchange will be changed: 1. Change of the minimum quotation size and spread class assignment in the two different Market- Making models Permanent Market-Making () and Advanced Market-Making (). The minimum quote size and spread class assignment are set according to market conditions and liquidity. 2. Change of assignment of equity options to -packages. The aforementioned changes are based on a regular review of the Market Maker parameters and the annual review of the -packages. Participants taking part in one of the Market-Making schemes are kindly requested to adjust their system settings accordingly. It is highly recommended to verify Market Maker performance in days after 3 February 2014, using the respective reports. Deutschland Börsenplatz Frankfurt/Main Mailing address: Frankfurt/Main Germany T F memberservices@ eurexchange.com Internet: Management Board: Thomas Book, Mehtap Dinc, Michael Peters, Andreas Preuss ARBN:

2 Equity options: Adjustment of Market Maker obligations 1. Change of minimum quote sizes and spread class assignments quote sizes and spread class assignments for Belgian, Dutch, French, German, Italian, Scandinavian, Spanish and Swiss equity options will be adjusted based on a scheme that captures market conditions and liquidity for each individual (see list under point 3). The changes will become effective on 3 February Change of assignment of equity options to -packages The assignment of below mentioned equity options to -packages will be changed effective 3 February 2014 as follows: a) Inclusion in an -package -package Equity option on Dutch (NL) Gemalto LDV French (FR) Legrand LRC French (FR) Safran SEJ French (FR) Technip THP b) Removal from an -package -package Equity option on Dutch (NL) Boskalis KBWA French (FR) Scor SDR1 French (FR) TF1 FSE French (FR) Thalès CSF Italian (IT) Atlantia AOP5 Italian (IT) Telecom Italia (RNC) TQIR Scandinavian (SC) TeliaSonera TLSN The amended Market Maker parameters for equity options mentioned under a) and b) can be found in the table under no. 3. The number of exceptions in the respective -packages remains unchanged. page 1 of 5

3 3. List of minimum quote sizes and spread class assignments Changes are marked in bold and are underlined. EURO STOXX 50 Components AIRBUS GROUP N.V. EAD ESX50; FR Air Liquide AIR ESX50; FR Allianz ALV ESX50; DE Anheuser-Busch-InBev ITK ESX50; BE Assicurazioni Generali ASG5 B 20 7 ESX50; IT ASML Holding ASM ESX50; NL AXA AXA ESX50; FR Banco Santander BSD2 A ESX50; ES BASF BAS ESX50; DE Bayer BAY ESX50; DE BMW BMW ESX50; DE BNP Paribas BNP ESX50; FR Daimler DAI ESX50; DE Danone BSN ESX50; FR Deutsche Post DPW ESX50; DE Deutsche Telekom DTE ESX50; DE Enel ENL5 A 20 7 ESX50; IT Eni ENT5 B 50 7 ESX50; IT E.ON EOA ESX50; DE GDF Suez GZF ESX50; FR ING INN ESX50; NL Intesa Sanpaolo IES5 A ESX50; IT L'Oréal LOR ESX50; FR LVMH MOH ESX50; FR Münchener Rück MUV ESX50; DE Orange FTE ESX50; FR Philips PHI ESX50; NL Repsol REP B 50 8 ESX50; ES Sanofi SNW ESX50; FR SAP SAP ESX50; DE Schneider Electric SND ESX50; FR Siemens SIE ESX50; DE Telefónica TNE5 B ESX50; ES Unibail-Rodamco UBL ESX50; FR UniCredit CRI5 A ESX50; IT page 2 of 5

4 EURO STOXX 50 Components Unilever NV UNI ESX50; NL VW pref. VO ESX50; DE Swiss Equities Actelion ATLN CH Adecco ADEN CH Bâloise Holding BALN CH Cie Financière Richemont CFR CH Clariant CLN CH Geberit GEBN CH Holcim HOLN CH Kühne & Nagel KNIN CH Kudelski KUD CH Nestlé NESN CH Nobel Biocare NOBE CH Novartis NOVN CH OC Oerlikon Corporation OERL CH Roche Holding ROG CH Swiss Life Holding SLHN CH Sonova SOON CH Syngenta SYNN CH Swatch Group UHR CH Other Equities Adidas ADS DE ageas FO BE page 3 of 5

5 Other Equities Ahold AHO NL Aixtron AIX DE ALSTOM AOM FR Aperam 7AA NL Arcelor Mittal ISPA FR/NL Atlantia AOP N.A. BAM Groep BGPA NL Beiersdorf BEI DE Bilfinger GBF DE Boskalis KBWA N.A. Bouygues BYG FR Capgemini CGM FR Celesio CLS DE Commerzbank CBK DE Continental CON DE Crédit Agricole XCA FR Deutsche Börse DB DE Electricité de France E2F FR Fortum FOT SC Fraport FRA DE Freenet FNT DE Fresenius FRE DE GEA Group G1A DE Gemalto LDV NL Hannover Rück HNR DE HeidelbergCement HEI DE Henkel pref. HEN DE K+S SDF DE Klöckner & Co KCO DE Lafarge CIL FR Lagardère LAG FR LANXESS LXS DE Legrand LRC FR Linde LIN DE Lufthansa LHA DE MAN St. MAN DE Mediobanca ME9 A 20 6 IT Merck MRK DE Michelin MCH FR MTU Aero Engines MTX DE page 4 of 5

6 Other Equities Neste Oil NEF SC Pernod-Ricard PER FR Peugeot PEU FR PostNL PNL NL Qiagen QIA DE Randstad Holding RSH NL Renault RNL FR Royal Dutch Shell ROY NL Royal KPN KPN NL Royal Imtech IR3A NL Safran SEJ FR SBM Offshore SBMO NL SCOR SDR N.A. Sky Deutschland SKY DE Solarworld SWV DE STMicroelectronics SGM FR Suez Environnement SEV FR Technip THP FR Telecom Italia TQI5 A 50 7 IT Telecom Italia RNC TQIR N.A. TeliaSonera TLSN N.A. TF1 FSE N.A. Thalès CSF N.A. ThyssenKrupp TKA DE TUI TUI DE UPM-Kymmene RPL SC USG People UQU NL Veolia Environnement VVD FR Vossloh VOS DE Wacker Chemie WCH DE Wolters Kluwer WOS NL VW VOW DE 16 January 2014 page 5 of 5