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Eurex Clearing
Effective November 21, 2011, the Executive Board of Eurex Clearing AG decided to enhance the collateral processing of Eurex Clearing via Clearstream Banking AG’s collateral management system Xemac®. The changes affect the Eurex Clearing Standard Collateral Pools as well as the Reuse of GC Pooling® for margining.
The Xemac® collateralisation process for the Standard Collateral Pools will be changed from a manual single securities allocation to a claim amount driven process (“Forderungsbeträge”), while Xemac® will consider the Eurex Clearing securities concentration limits when allocating securities.
As of the same date, the GC Pooling® Reuse Service will be modified. Only the securities received by a cash provider of the Eurex Repo GC Pooling® ECB Basket transaction will be acceptable for reuse. With this amendment, the specific Basket ISIN Haircut will be removed.
The scope of the GC Pooling® Reuse Service will be extended to all GC Pooling® Baskets.
Members using Clearstream Banking Frankfurt (CASCADE/Creation) or SIX SIS for their collateral provisioning to Eurex Clearing AG are not affected by these changes.
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