A member of
Eurex Clearing
In line with the continuous development and improvement of the Default Management Process and the Clearing Fund, Eurex Clearing AG (Eurex Clearing) proposes to:
1. Clarify the utilisation of (potential) Excess Contributions to the Clearing Fund;
2. Rename the Clearing Fund to “Default Fund”;
3. Amend the frequency in which Clearing Fund Contributions are calculated;
4. Further clarify the definition of “Confidential Information” in regards to Default Management Committees (DMCs);
5. Amend the timing provisions relating to assignments of new DMC Members;
6. Introduce a possibility for DMC Member Institutions’ compliance departments to be informed by Eurex Clearing in case of a DMC Convention.
The amended sections of the Clearing Conditions of Eurex Clearing AG (Clearing Conditions) and the Default Management Committee 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 to which Eurex Clearing hereby invites all Clearing Members, Non-Clearing Members, Registered Customers and Basic Clearing Members to submit comments.