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Aug 19, 2016

Eurex Clearing

Amendments to the Clearing Conditions and other related documents of Eurex Clearing AG

This circular contains information with respect to Eurex Clearing’s service offering and corresponding amendments to the Clearing Conditions of Eurex Clearing AG (Clearing Conditions) and other related documents regarding the following topics:

  1. Amendments to Chapter II Part 2 and Part 3 and Chapter V Part 2 of the Clearing Conditions regarding the settlement cycle for the delivery of Spanish shares
  2. Amendments to the German version of Chapter I Part 5 of the Clearing Conditions regarding the FCM Client Margin
  3. Amendments to the English version of Chapter II Part 2 of the Clearing Conditions regarding the final settlement price
  4. Amendments to the cash account infrastructure for Clearing Members and Specific Lenders of the securities lending market (Chapter 9 of the Clearing Conditions)
  5. New collateralisation type for Specific Lenders: Title transfer/pledge back model (Chapter 9 of the Clearing Conditions)
  6. Clarification with respect to Changes and Amendments to the Clearing Conditions and the Consultation

The amended sections of the Clearing Conditions and other related documents, as decided by the Executive Board of Eurex Clearing, are attached to this circular.

The amendments regarding topics 1, 2, 3 and 4 will come into effect on 12 September 2016.

The amendments regarding topics 5 and 6 will come into effect on 19 October 2016, subject to the requirement below.

The planned amendments related to topic 5 and 6 fall within the scope of Special Provisions and are subject to a consultation process to which Eurex Clearing hereby invites all Clearing Members, Non-Clearing Members and Registered Customers to submit comments. Further details on the Consultation process are included in this circular.