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Eurex Clearing
Eurex Clearing is planning to harmonise the existing admission requirement to have qualified clearing staff members available for all General Clearing Members and Direct Clearing Members (“Clearing Members”) and across all clearing licenses.
Currently this admission requirement applies only to Clearing Members holding a Eurex Exchanges (Eurex Deutschland and Eurex Zürich) clearing license.
Each Clearing Member must have available, for all clearing licences and during the business hours defined by Eurex Clearing, at least one Qualified Clearing Staff (QCS). A QCS must have passed a Clearer Test consisting of two modules. The introduction of this new admission requirement is planned for the second half of 2013. Eurex Clearing will grant a transitional period of twelve months to comply with the new requirement.
This circular provides information about the impact on existing clearing memberships, the conditions and the new framework for the QCS and the Clearer Test.