Eurex Futures and Options trading

European derivatives exchange of the year at the Global Derivatives Awards 2022

The largest global derivatives exchange by open interest
a wide range of products, including some of the world's most traded contracts

Eurex goal is to simplify trading, hedging and risk management for anyone with exposure to financial markets

Eurex products in Directa's offering

Eurex micro-contracts are designed in parallel with EURO STOXX 50^® and DAX^® derivative contracts. They are five to 25 times smaller than regular products offering trading participants the opportunity to hedge and gain exposure to European benchmark indexes with low contract values.

Micro-EURO STOXX 50^® Futures

Underlying Index: EURO STOXX 50^®
Last trading day / Final settlement day: 3rd Friday of each maturity month (Tue, Jun, Sep and Dec) at 12:00 noon. If it is not an open market day, maturity will occur on the previous open market day.

Final settlement price: established by Eurex on the final settlement day of the contract and is based on the average of the respective STOXX Index values calculated between 11:50 and 12:00.

Cash settlement, payable on the first exchange day following the final settlement day.

0.5 index points

2€ per contract

Micro-DAX^® Futures

Underlying Index: DAX40
Last trading day / Final settlement day: 3rd Friday of each maturity month (Tue, Jun, Sep and Dec) at 13:00. If it is not an open market day, maturity will occur on the previous open market day.

Final settlement price: Close of trading in the maturing futures on the last trading day is at the beginning of the Xetra intraday auction starting at 13:00. Final settlement price is set by Eurex on the final settlement day of the contract and is determined by the value of the respective index, based on the Xetra auction prices of the respective index component stocks.

Cash settlement, payable on the first exchange day following the final settlement day.

2€ per contract

DAX^® Futures

Underlying Index: DAX40
Last trading day / Final settlement day: 3rd Friday of each maturity month (Tue, Jun, Sep and Dec) at 13:00. If it is not an open market day, maturity will occur on the previous open market day.

Final settlement price: Close of trading in the maturing futures on the last trading day is at the beginning of the Xetra intraday auction starting at 13:00.
Final settlement price is set by Eurex on the final settlement day of the contract and is determined by the value of the respective index, based on the Xetra auction prices of the respective index component stocks.

Cash settlement, payable on the first exchange day following the final settlement day.

6€ per contract

Mini-DAX^® Futures

Underlying Index: DAX40
Last trading day / Final settlement day: 3rd Friday of each maturity month (Tue, Jun, Sep and Dec) at 13:00. If it is not an open market day, maturity will occur on the previous open market day.

Final settlement price: Close of trading in the maturing futures on the last trading day is at the beginning of the Xetra intraday auction starting at 13:00. Final settlement price is set by Eurex on the final settlement day of the contract and is determined by the value of the respective index, based on the Xetra auction prices of the respective index component stocks.

Cash settlement, payable on the first exchange day following the final settlement day.

4€ per contract

EURO STOXX 50^® Futures

Underlying Index: EURO STOXX 50^®
Last trading day / Final settlement day: 3rd Friday of each maturity month (Tue, Jun, Sep and Dec) at 12:00 noon. If it is not an open market day, maturity will occur on the previous open market day.

Final settlement price: established by Eurex on the final settlement day of the contract and is based on the average of the respective STOXX Index values calculated between 11:50 and 12:00.

Cash settlement, payable on the first exchange day following the final settlement day.

4€ per contract

EURO STOXX^® Banks Futures

Underlying Index: EURO STOXX BANKS
Last trading day / Final settlement day: 3rd Friday of each maturity month (Tue, Jun, Sep and Dec) at 12:00 noon. If it is not an open market day, maturity will occur on the previous open market day.

Final settlement price: established by Eurex on the final settlement day of the contract and is based on the average of the respective STOXX Index values calculated between 11:50 and 12:00.

Cash settlement, payable on the first exchange day following the final settlement day.

0.05 index points

4€ per contract

Settlement: Physical delivery
Directa does not allow physical delivery of the underlying. Therefore, all open positions must be closed the last trading day at 10:00

Last trading day: Two exchange days prior to the delivery day of the relevant maturity month. Close of trading in the maturing futures on the last trading day is at 12:30

Euro-Bund Futures

Underlying Index: Euro-Bund
Contract months: The two nearest quarterly months of the March, June, September and December cycle.

0.01 index points

4€ per contract

Euro-Bobl Futures

Underlying Index: Euro-Bobl
Contract months: The two nearest quarterly months of the March, June, September and December cycle.

0.01 index points

4€ per contract

Euro-Buxl^® Futures

Underlying Index: Euro-Buxl^®
Contract months: The two nearest quarterly months of the March, June, September and December cycle.

0.02 index points

4€ per contract

Euro-OAT Futures

Underlying Index: Euro-OAT
Contract months: The two nearest quarterly months of the March, June, September and December cycle.

0.01 index points

4€ per contract

Euro-Schatz Futures

Underlying Index: Euro-Schatz
Contract months: The two nearest quarterly months of the March, June, September and December cycle.

0.005 index points

4€ per contract

Long-Term Euro-BTP Futures

Underlying Index: Long-Term Euro-BTP
Contract months: The two nearest quarterly months of the March, June, September and December cycle.

0.01 index points

4€ per contract

Short-Term Euro-BTP Futures

Underlying Index: Short-Term Euro-BTP
Contract months: The two nearest quarterly months of the March, June, September and December cycle.

0.01 index points

4€ per contract

VSTOXX

Underlying Index: VSTOXX

Contract months: The seventh nearest successive calendar months.
Last trading day / Final settlement day: Final settlement day is 30 calendar days prior to the expiration day of the underlying options.
This is usually the Wednesday prior to the second last Friday of the respective maturity month, if this is an exchange day; otherwise the open market day immediately preceding that day.
Close of trading in the maturing futures on the last trading day is at 12:00

Final settlement price: The final settlement price is established by Eurex on the final settlement day, based on the average of the index values of the underlying on the last trading day between 11:30 and 12:00.

Cash settlement, payable on the first exchange day following the final settlement day.

0.05 index points

4€ per contract

EURO STOXX 50^® Options (OESX)

Underlying index: Euro STOXX 50^®

Contract months: 7 due dates (the 3 nearest monthly and the 4 quarterly March, June, September and December cycle)

Last trading day and final settlement day: Last trading day is the final settlement day.
Final settlement day is the third Friday of each expiration month if this is an open market day; otherwise the exchange day immediately preceding that day.
Close of trading in the expiring option series on the last trading day is at 12:00

Final settlement price: established by Eurex on the final settlement day of the contract and is based on the average of the EURO STOXX 50 Index values calculated between 11:50 and 12:00

Cash settlement, payable on the first exchange day following the final settlement day.

Strike price x multiplier

Option price x multiplier

0.1 index points

2.5€ per contract

Weekly EURO STOXX 50^® Options

Underlying index: Euro STOXX 50^®

1st, 2nd and 4th Friday Weekly Options: one month for all contracts expiring on the 1st, 2nd and 4th Friday of a calendar month.
At the start of trading on each Friday, the Weekly Options for the same week of the following month will be listed.

Last trading day and final settlement day: Last trading day is the final settlement day.

Final settlement day of the Weekly Options is the respective expiry determined Friday, if this is an open market day; otherwise the exchange day immediately preceding that Friday within the same calendar month.
Close of trading in the expiring option series on the last trading day is at 12:00.

Final settlement price: established by Eurex on the final settlement day of the contract and is based on the average of the EURO STOXX 50 Index values calculated between 11:50 and 12:00

Cash settlement, payable on the first exchange day following the final settlement day.

Strike price x multiplier

Option price x multiplier

0.1 index points

2.5€ per contract

DAX^® Options (ODAX)

Underlying index: DAX40

Contract months: 7 due dates (the 3 nearest monthly and the 4 quarterly March, June, September and December cycle)

Last trading day and final settlement day: Last trading day is the final settlement day.
Final settlement day is the third Friday of each expiration month if this is an open market day; otherwise the exchange day immediately preceding that day.

Close of trading in the expiring option series on the Last Trading Day is at the beginning of Xetra intraday auction starting at 13:00

Final settlement price: established by Eurex on the final settlement day of the contract and is determined by the value of the respective index, based on Xetra auction prices of the respective index component shares.
The intraday auction starts at 13:00 CET

Cash settlement, payable on the first exchange day following the final settlement day.

Strike price x multiplier

Option price x multiplier

0.1 / 0.5 / 1 index points depending on premium threshold

2.5€ per contract

DAX^® Weekly Options (ODX1, ODX2, ODX4, ODX5)

Underlying index: DAX40

1st, 2nd and 4th Friday Weekly Options: one month for all contracts expiring on the 1st, 2nd and 4th Friday of a calendar month.
At the start of trading on each Friday, the Weekly Options for the same week of the following month will be listed.
5th Friday Weekly Options: more than one month for contracts expiring on the 5th Friday of a calendar month.
For months without a 5th Friday, the option expiration will fall on the next 5th Friday.

Last trading day and final settlement day: Last trading day is the final settlement day. Final settlement day of the Weekly Options is the respective expiry determined Friday, if this is an open market day; otherwise the exchange day immediately preceding that Friday within the same calendar month.

Close of trading in the expiring option series on the last trading day is at beginning of the Xetra intraday auction starting at 13:00.

Final settlement price: Value of DAX^®, based on Xetra auction prices of the index component shares.
The intraday auction starts at 13:00

Cash settlement, payable on the first exchange day following the final settlement day.

Strike price x multiplier

Option price x multiplier

0.1 / 0.5 / 1 index points depending on premium threshold

2.5€ per contract

Learn more about Eurex Micro Futures

Educational video series by Eurex

What are Eurex Micro Futures Contracts?

How to hedge with Eurex Micro Futures?

Launch of Eurex Micro Futures