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Jul 05, 2017

Eurex Clearing

Consultation on amendments of Special Provisions regarding the Default Management Process

In line with the feedback received from the Clearing Members and the continuous improvement of the Default Management Process (DMP), Eurex Clearing AG (Eurex Clearing) proposes to:

  1. Clarify the DMP regarding the FWB Transactions in case a defaulted Clearing Member has been acting as a seller;
  2. Clarify the definition of the “Liquidation Group Ratio” for the Dedicated Amount consumption;
  3. Clarify the provisions relating to the OTC Interest Rate Derivatives Transactions auction format;
  4. Clarify the Default Management Auction Rules; and
  5. Further clarify the Default Management Committee Rules.

The amended sections of the Clearing Conditions of Eurex Clearing AG (Clearing Conditions), the Default Management Committee Rules and the Default Management Auction Rules, as decided by the Executive Board of Eurex Clearing, are attached to this circular.

The planned amendments fall within the scope of Special Provisions of the Clearing Conditions and are subject to a consultation process. Such Consultation will commence on 6 July 2017 and shall end on
7 August 2017 at midnight (Consultation Period).