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Eurex Clearing
As announced in Eurex Clearing circular 129/16, Eurex Clearing AG (Eurex Clearing) enhances the default management process (DMP) for Eurex Bonds, Eurex Repo and GC Pooling Repo Transactions to further increase transparency and to adjust processes to changed market conditions, while considering product particularities:
The amendments relate to Special Provisions of the Clearing Conditions of Eurex Clearing (Clearing Conditions) with the consequence that a consultation process (Consultation) was initiated, which started on 25 October 2016 and ended on 24 November 2016. During the Consultation, Eurex Clearing received comments from its customers regarding the contemplated amendments. Eurex Clearing reviewed all comments and slightly amended the contemplated amendments which were consulted. Eurex Clearing did not receive any requests for a Prolonged Notification Period.
The attached amendments will come into effect on 9 January 2017.
The amended sections of the Clearing Conditions, the Default Management Auction Rules and the Default Management Committee Rules, as decided by the Executive Board of Eurex Clearing, following a respective recommendation by the EMIR Risk Committee, are attached to this circular.