Eurex Passive Liquidity Protection


On Mar. 26, Eurex advised of passive liquidity protection deferral time.


  • Eurex published a circular on passive liquidity protection (PLT): deferral time for options on fixed income futures and options on money market index futures.
  • Follows Eurex May 2021 issued circular on equity index derivatives, see #106619.
  • Deferral Times
  • PLP deferral time set to 1 millisecond for production and simulation for the options on fixed income futures and options on money market index futures product suites.
  • Includes Options contracts on euro-Schatz futures contracts, euro Bobl futures contracts , euro Bund futures contracts and euro Buxl futures contracts.
  • Plus, options contracts on euro-OAT futures contracts, euro-BTP futures contracts, 3-month EURIBOR futures contracts, 1- to 4-year EURIBOR mid-curve options contracts.
  • Action Required
  • No particular action required; participants interested in testing the PLP functionality for the new supported products should use Eurex simulation environment for testing.
  • PLP had been made available for these products in simulation on Dec. 29, 2023.
  • Effectiveness
  • Decisions on the PLT referral time re product groups is effective from Apr. 15, 2024.

Regulators Eurex
Entity Types B/D; Corp; Exch
Reference Cir 035/24, 3/26/2024
Functions Compliance; Legal; Operations; Trade Reporting; Trading; Treasury
Countries EU Exchange
Category
State
Products Derivatives; Equity; Fixed Income; Futures; Securities
Regions EMEA
Rule Type Final
Rule Date 3/26/2024
Effective Date 4/15/2024
Rule Id 206258
Linked to Rule :106619
Reg. Last Update 3/26/2024
Report Section EU

Last substantive update on 03/29/2024