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14 Feb 2019

Eurex Clearing

Enhancement of the volume rebate methodology

In order to mitigate the negative impacts resulting from new structures that many market participants are currently implementing in preparation for Brexit, Eurex Clearing has decided to enhance the volume rebate methodology by considering take-up volumes for the rebate calculation in specific cases, where

  1. the Clearing Member, Basic Clearing Member and Disclosed Direct Client (hereafter: Member) that initiates the give-up of a transaction is incorporated in the EU and is an affiliated company to the respective take-up Member, and
  2. the take-up Member is not eligible to directly execute transactions via its own P-Accounts or M-accounts. (Members signing up for the enhanced volume rebate calculation are not expected to comply with clause ii in the month of March 2019.)

For processing reasons, the take-up needs to be accepted on the same day the transaction has been executed, in order to be considered for the volume rebate calculation.

The enhancement will come into effect on 1 March 2019 and is timely limited until 31 December 2020.