OTC IRD Client Activation Program 2023

As the end date for CCP equivalence nears, Eurex Clearing introduces a new 2023 OTC IRD Client activation program that rewards parties that start clearing their OTC IRDs in 2023 with an attractive incentive award of up to EUR 50,000. 

The new program is available for Disclosed Direct Clients, FCM Clients and ISA Direct Clearing Members – even if you are already processing OTC IRD volumes at Eurex Clearing. All you need to do is fulfill the milestones below by clearing your OTC IRDs (OTC Interest Rate Swap (IRS), Overnight Index Swap (OIS), Basis Swap and/or Zero Coupon Inflation Swap (ZCIS)) transactions with Eurex Clearing in 2023. 

Registration for this program is free and possible until 30 June 2023.

The incentive reward of up to EUR 50,000 is paid directly to the individual participant in January 2024. The requirements for receiving the full reward are listed in the milestones below. 

Milestones 

Participants qualify for the respective incentive once all milestones are met: 

Milestone 1: 
Participate in Eurex Clearing's product and services buy-side survey (a single participation is sufficient to receive the swap incentive and inflation incentive reward) until 31 December 2023. 

Milestone 2: 
Execute, during the qualification period that runs from 1 January 2023 to 31 December 2023: 

• For the Swap Incentive Reward: Clear your IRS, OIS and/or Basis Swap transactions with a cumulated cleared notional volume of EUR 2.5bn. 
• For the Inflation Incentive Reward: Clear your ZCIS transactions with a cumulated cleared notional volume of EUR 150mn. 

Milestone 3:
Applicable only for the Swap Incentive Reward: an Initial Margin requirement relating to your own OTC IRD transactions of at least EUR 50mn on any of the following dates: 31 October 2023, 30 November 2023, or 30 December 2023.