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Eurex Clearing
This circular contains information about amendments to the Clearing Conditions for Eurex Clearing AG (Clearing Conditions) with respect to the following topics:
1. Simplification of Eurex Clearing’s legal framework
2. Termination events and porting timelines within the Individual Clearing Model
The proposed amendments relate to Special Provisions, therefore Eurex Clearing is required to initiate a consultation process (Consultation).
The Consultation on the proposed changes or amendments to Special Provisions of Eurex Clearing AG begins on 10 July 2015 and shall end on 10 August 2015 at midnight. This will be followed by a shortened publication period of 15 business days, after which the proposed changes come into effect on 7 September 2015, provided that in total no more than two affected Clearing Members, Non-Clearing Members or Registered Customers object to the application of such shortened publication period within the respective Consultation.
If Eurex Clearing AG receives such objections from more than two affected Clearing Members, Non-Clearing Members or Registered Customers during the respective Consultation, Eurex Clearing AG will notify all Clearing Members, Non-Clearing Members or Registered Customers promptly on receipt of such objections in a further electronic circular.
Further details on the consultation process are included in this circular.