On Oct. 2, 2026, Eurex issued Circular 064/26 on Amendment of Liquidity Provider Programs for Three-Month EURIBOR Futures and Three-Month Euro STR Futures.
Follows decision of Executive Boards of Eurex Frankfurt AG, Eurex Clearing AG to amend the Product Specific Supplement (PSS) for Fixed Income 17 – Three-Month Euribor Futures and Three-Month Euro STR Futures, as shown in Member Section.
Also, the temporary ETI Session Fee Waiver as in Circular 119/25, will be discontinued with effect from Nov. 2, 2026, so Oct. 2026 will be final qualification and billing month.
The new process of providing the PSS and other contractual documents related to Liquidity Provisioning had been introduced with Eurex Circular 063/26 (See #314741).
Amendments deemed approved unless objected to Eurex Frankfurt AG and Clearing AG within 2 weeks post circular notification pursuant to N4.2 Liquidity Provider Agreement.
The Circular changes will be effective at Nov. 2, 2026, in line with updated parameters.
On Dec. 23, Eurex notified fee waivers extension, connection services.
Eurex issued Circular 119/25, Money market derivatives: amendment to liquidity provider programs for 3-month EURIBOR futures and 3-month euro STR futures and extension of fee waivers for services under connection agreement of Eurex Frankfurt.
Decision
Executive Boards of Eurex Frankfurt AG and Eurex Clearing AG took decided, with effect from Jan. 1, 2026, to amend Product Specific Supplement (PSS) Fixed Income 17 – Three-Month Euribor Futures and Three-Month Euro STR Futures (attachment).
And to temporarily waive fee under current Connection Agreement of Eurex Frankfurt AG for up to first two Full High-Frequency ETI Sessions for qualifying Trading Participants until Dec. 31, 2026; liquidity providers need to adjust quotation behavior.
Product Specific Supplement
Additional incentive component based on open interest in Three-Month Euro STR Futures will be extended for the month of Jan. 2026, as described in section 4.1 PSS Fixed Income 17 – Three-Month Euribor Futures and Three-Month Euro STR Futures; it will be effective as of Jan. 1, 2026, with updated parameters.
Phase I of the Liquidity Provider scheme will be extended until Mar. 31, 2026.
Effective from Feb. 1, 2026, amendments in s6 Caps, and Phase I: Additional Supporter Incentive with regards to Participation Condition for Additional Supporter Incentive Payment Fix payment and Pro Rata Payment will be adjusted (attachment).
Effective from Feb. 1, 2026, Quotation Requirements as per s 5.1 and 5.2, adjusted.
Temporary Fee Waiver
All Trading Participants, who qualify under participation condition according to Sec 4.1. of PSS Fixed Income 17 – Three-Month Euribor Futures and Three-Month Euro STR Futures, as amended from time to time, will not be charged, as of Jan. 1, 2026.
For their first Full High-Frequency ETI Sessions for each of the products (Three-Month Euribor Futures (Product ID: FEU3) and Three-Month Euro STR Futures (Product ID: FST3)) for the month in which the participation condition was fulfilled.
Session fee waiver for FEU3 and FST3 is valid until Dec. 31, 2026.
Eurex Frankfurt has right to terminate/adjust incentive any time with 1 month notice.
This is an extension to existing session fee waiver agreement expiring on Dec. 31, 2025 (refer to Eurex Cir 078/24 and 130/24 for further details).
Amendments deemed approved unless objected to Eurex Frankfurt AG/Eurex Clearing AG within 2 weeks after notification of this Cir, as per No. 4 (2) Provider Agreement.
Effectiveness
Effective Jan. 1, 2026, Eurex will amend the liquidity provider programs and extend both the open interest incentive for Jan. 2026 and Phase I until Mar. 31, 2026.
While further amendments and updated quotation requirements take effect on Feb. 1, 2026, and the session fee waiver runs through Dec. 31, 2026.
Jan. 2026 New Circular
On Jan. 29, 2026, Eurex issued Circular 005/26 on Amendment of Liquidity Provider Programs for Three-Month EURIBOR Futures and Three-Month Euro STR Futures.
Amended Product Specific Supplement (PSS) Fixed Income 17 Three-Month Euribor Futures and Three-Month Euro STR Futures as shown in the Attachment.
Circular will be effective as of Feb. 1, 2026 with updated parameters; effective from Mar. 1, 2026, amendments in section 4.1 with regards to calculation of performance volume will be adjusted as shown in the Attachment.
Amendments deemed approved unless objected to Eurex Frankfurt AG and Clearing AG within 2 weeks post circular notification pursuant to N4.2 Liquidity Provider Agreement.
Mar. 2026 Further Circular
On Mar. 31, 2026, Eurex issued Circular 019/26 on Amendment of Liquidity Provider Programs for Three-Month EURIBOR Futures and Three-Month Euro STR Futures.
Follows Board decision to amended Product Specific Supplement (PSS) Fixed Income 17 Three-Month Euribor Futures and Three-Month Euro STR Futures, per Attachment.
The additional incentive, based on open interest in Three-Month Euro STR Futures, introduced Jul. 1, 2024 will be extended for Apr. 2026, described in section 4.1 of PSS Fixed Income 17 – Three-Month Euribor Futures and Three-Month Euro STR Futures.
Amendments deemed approved unless objected to Eurex Frankfurt AG and Clearing AG within 2 weeks post circular notification pursuant to N4.2 Liquidity Provider Agreement.
The Circular changes will be effective at Apr. 1, 2026, in line with updated parameters.
Jun. 2026 Incentive Component on Open Interest Extended
On Jun. 29, 2026, Eurex issued Circular 040/26 on Amendment of Liquidity Provider Programs for Three-Month EURIBOR Futures and Three-Month Euro STR Futures.
Follows decision of Executive Boards of Eurex Frankfurt AG,Eurex Clearing AG to amend the Product Specific Supplement (PSS) for Fixed Income 17 – Three-Month Euribor Futures and Three-Month Euro STR Futures as per attachment to circular.
Additional incentive component based on open interest in Three-Month Euro STR Futures, introduced on Jul. 1, 2024, extended as of Jul. 1, 2026 with updated parameters, as per s 4.1 of PSS.
Amendments deemed approved unless objected to Eurex Frankfurt AG and Clearing AG within 2 weeks post circular notification pursuant to N4.2 Liquidity Provider Agreement.
Oct. 2026 Incentive Component End
On Oct. 2, 2026, Eurex issued Circular 064/26 on Amendment of Liquidity Provider Programs for Three-Month EURIBOR Futures and Three-Month Euro STR Futures.
Follows decision of Executive Boards of Eurex Frankfurt AG, Eurex Clearing AG to amend the Product Specific Supplement (PSS) for Fixed Income 17 – Three-Month Euribor Futures and Three-Month Euro STR Futures, as shown in Member Section.
Also, the temporary ETI Session Fee Waiver as in Circular 119/25, will be discontinued with effect from Nov. 2, 2026, so Oct. 2026 will be final qualification and billing month.
The new process of providing the PSS and other contractual documents related to Liquidity Provisioning had been introduced with Eurex Circular 063/26 (See #314741).
Amendments deemed approved unless objected to Eurex Frankfurt AG and Clearing AG within 2 weeks post circular notification pursuant to N4.2 Liquidity Provider Agreement.
The Circular changes will be effective at Nov. 2, 2026, in line with updated parameters.
