A member of
Eurex Clearing
As announced with Eurex Clearing circular 076/12 on 14 September 2012, Eurex Clearing has applied a transitional period of three months from 1 October until 31 December 2012 for Clearing Members and Non-Clearing Members to re-apply for their existing outsourcing arrangements by submitting the updated version of the application form for notification of existing clearing and/or back-office outsourcing arrangements (see attachments).
This is required for compliance with the new outsourcing principles implemented since 1 October 2012 and set out in Chapter I, Section 1, Number 15.2 of the Clearing Conditions for Eurex Clearing AG.
Eurex Clearing hereby extends the transitional period until 28 February 2013. Consequently, Clearing Members and Non-Clearing Members must submit re-applications for existing outsourcing arrangements until 28 February 2013, the latest.
In case of non-compliance until 28 February 2013, Eurex Clearing may use its veto right according to Chapter I, Section 1, Numbers 15.2.8, 15.2.9 and 15.2.10 of the Clearing Conditions for Eurex Clearing AG. Upon exercise of the veto right by Eurex Clearing AG, the Outsourcer is obliged to terminate the Outsourcing and to re-assume the Outsourced Functions with immediate effect or at a time specified by Eurex Clearing AG.