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Feb 01, 2016

Eurex Clearing

Postponement of implementation date: Change of settlement cycle for the delivery of Spanish shares from T+3 to T+2

With reference to Eurex Clearing circular 005/16 published on 27 January 2016, Iberclear SA announced that the implementation of the change of settlement cycle for Spanish equities from Trade Date + 3 (T+3) to Trade Date + 2 (T+2) will be postponed and will not take place in February 2016.

As a consequence, the amendments to the Clearing Conditions for Eurex Clearing AG (Clearing Conditions) concerning the delivery and payment procedure for Single Stock Futures and option contracts and Low Exercise Price Options (LEPOs) on shares as well as the contractual penalty regime for non-delivery of shares will not  come into effect on 25 February 2016 as initially planned.

Iberclear SA has still not confirmed the new implementation date.

A new circular will be published to advise the new date as soon as available.