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Eurex Clearing
Eurex Clearing receives cash collateral from Clearing Members and invests these funds by means of
reverse repo transactions against high grade collateral in order to pay interest on the provided funds. Eurex
Clearing is also allowed to use the provided cash collateral for its daily operational functions (see Clearing Conditions for Eurex Clearing AG, chapter I, no. 3.3 sec. 5).
To always ensure intraday and overnight liquidity, the Executive Board of Eurex Clearing decided to allow the use of received high grade collaterals with central banks or other failsafe financial institutions. The provision towards these institutions can be done in form of pledges or repurchase transactions. Such eligible failsafe counterparts are defined in the Clearing Conditions for Eurex Clearing AG, chap. 4 no. 1.1.1 sec. 2.
Commercial banks are not envisaged for such transactions to guarantee highest safety of Clearing Member funds.
The change will take effect on September 20, 2010.