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Eurex Clearing
This circular provides information on the amendments to the Clearing Conditions for Eurex Clearing AG (Clearing Conditions) in relation to Eurex Clearing AG’s (Eurex Clearing) application to register as a Derivatives Clearing Organization (DCO) with the Commodity Futures Trading Commission (CFTC).
Eurex Clearing is currently in the application process with the CFTC to be registered as a DCO for OTC Interest Rate Derivative Transactions, which is expected to be finalised in January 2016. The key requirement for the registration as DCO is the implementation of an agency-style clearing model for U.S. client clearing which will be introduced in the Clearing Conditions.
Please note that the introduction start of the U.S. Clearing Model is subject to finalising regulatory approval from the CFTC. Information on the operational launch will be provided in a separate Eurex Clearing circular at a later stage.
All amendments will come into effect on 18 January 2016.
The amended sections of the Clearing Conditions, as decided by the Executive Board of Eurex Clearing AG, are attached to this circular.