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Eurex Clearing
Eurex Clearing AG (Eurex Clearing) amends its capital structure to further stregthen the default waterfall. In particular, Eurex Clearing will:
The changes contribute to Eurex Clearing's continuous efforts to optimise and provide maximum transparency around the CCP's default management process and default waterfall. The Risk Commitee of Eurex Clearing advised the Supervisory Board of Eurex Clearing to implement these changes during its meeting on 12 November 2015.
The amendments relate to Special Provisions of the Clearing Conditions of Eurex Clearing AG (Clearing Conditions) with the consequences that a consultation process (Consultation) was initiated, which started on 19 November 2015 and ended on 19 December 2015. During the Consultation, Eurex Clearing received comments from its customers regarding the contemplated amendments. Eurex Clearing reviewed all comments and slightly amended the version of the Clearing Conditions which was consulted.
The attached amendments will come into effect on 15 June 2016. The amended sections of the Clearing Conditions, as concluded by the Executive Board of Eurex Clearing, are attached to this circular.