A member of
Eurex Clearing
Eurex Clearing revised its existing framework for buy-in and cash settlement procedures. As a result, the buy-in and cash settlement procedure across all markets cleared will be harmonised. For the Eurex Bonds and Eurex Repo markets, three voluntary buy-in attempts will be introduced which can be optionally requested by the Clearing Member who has not received delivery in time. In addition, an optional cash settlement procedure for the Eurex Bonds and Eurex Repo markets will be introduced. Cash settlement can be requested by the Clearing Member who has not received delivery on time if at least one (partially) unsuccessful buy-in attempt has been performed.
Applicable to all markets cleared, a cash settlement fee payable by the Clearing Member having the delivery obligation.
The provisions on the buy-in and cash settlement procedures in Chapter V Number 2.2 of the Clearing Conditions for Eurex Clearing AG have been revised and simplified.
This circular contains a description of the procedure and includes the relevant amendments to the Clearing Conditions and Auction Terms of Eurex Clearing AG that were decided by the Executive Board of
Eurex Clearing on 9 October 2013 and will become effective on 18 November 2013.
Kindly note that these adjustments will become effective as of 18 November 2013 with the production start of CCP Release 9.0. Please find attached the amended parts of the Clearing Conditions and Auction Terms of Eurex Clearing AG.