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Eurex Clearing
On 2 January 2014, amendments to the Clearing Conditions for Eurex Clearing AG (Clearing Conditions) with regard to Qualified Clearing Staff (QCS) came into effect stating that all GeneralClearing Members and Direct Clearing Members (Clearing Members) of Eurex Clearing as well as all insourcing firms that are not admitted as Clearing Members at Eurex Clearing are required to have at least one Qualified Clearing Staff member (QCS) for each clearing license who must be available in the firm during market-specific business hours defined by Eurex Clearing. This admission requirement will only be fulfilled if the Clearing Member or the insourcing firm has successfully registered at least one QCS per clearing license by 1 January 2015 latest.
This circular reminds all Clearing Members and all insourcing firms of this mandatory admission requirement.
Furthermore, the business hours during which availability of QCS is mandatory have been adjusted for Eurex Repo.
The amended sections of the Clearing Conditions are attached to this circular.
The amendments will come into effect on 4 August 2014.