A member of
Eurex Clearing
As already announced, Eurex Clearing AG (Eurex Clearing) will offer new, optional services for segregation of customer collateral (Client Asset Protection Service) in the markets cleared by Eurex Clearing. As a first step of the Client Asset Protection solution, Eurex Clearing will introduce the “Individual Clearing Model” (ICM).
With this circular you will receive the amendments to the Clearing Conditions for Eurex Clearing AG (Clearing Conditions) decided by the Executive Board of Eurex Clearing AG on July 25, 2011. These are the Clearing Agreements concluded with Clearing Members, Non- Clearing Members and Registered Customers, pursuant to attachment 1 to 3 of the Clearing Conditions, as well as further documents which will become effective on August 10, 2011.
Upon usage of the Individual Clearing Model, Non-Clearing Members (NCMs) may obtain maximum protection of their assets (positions and margin collateral) on the level of the Central Counterparty (CCP). Also, in case of a Clearing Member default, pledged collateral and positions can beneficially be transferred immediately and without consent of an insolvency administrator.
Through the Individual Clearing Model, Eurex Clearing offers already today a service which fulfils the planned regulatory requirements, as specified in the published draft versions of the European Markets Infrastructure Regulation (EMIR).
For any questions you may have or any further information you may require, please contact the Member Services & Admission team at
tel. +49-69-211-1 17 00.