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Eurex Clearing
Effective May 14, 2010, Eurex Clearing introduced a contractual penalty for late deliveries on dividend record dates and record dates of other corporate actions (see Eurex Clearing circular 024/10). Also, on January 1, 2011, the product scope was extended to all equity instruments which are cleared by Eurex Clearing (see Eurex Clearing circular 099/10). Exchange Traded Funds (ETFs) are currently not covered by the contractual penalty regulation.
The present circular illustrates in detail the application of the existing penalty regulation, partly extends its area of application or harmonises procedures.
As of July 11, 2011 Eurex Clearing will disclose for Exchange Traded Funds (ETFs) the counterparties as soon as a claim for potential damage due to a late delivery is raised with Eurex Clearing.