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Jul 16, 2019

Eurex Clearing

Eurex Clearing Readiness Newsflash | Update Client Segregation Migration activities

Eurex Clearing Readiness Newsflash

Dear Clearing Member,

Due to amendments to client segregation models that became effective as of 28 January 2019, Clearing Members need to assess the impact for three changes that are part of the transition period until 31 December 2019:

  • The Elementary Clearing Model - Asset Based Allocation Method (ECM by Asset) is the standard structure for omnibus segregation and will be the only option after 31 December 2019. For all Clearing Members currently using the ECM – Value Based Allocation Method (ECM by Value), Eurex Clearing strongly recommends planning the switch to ECM by Asset prior to the beginning of October 2019 due to frozen zones around releases planned for November 2019.
  • The Individual Segregated Account (ISA) Provisions will be the standard individual segregation option after 31 December 2019. For all Disclosed Direct Clients set up in the Individual Clearing Model, Eurex Clearing strongly recommends planning the migration to ISA prior to the beginning of October 2019 due to frozen zones around releases planned for November 2019.
  • The automatic termination of triparty clearing agreements for clients in ECM will take place on 31 December 2019.

Further details for the steps to perform the switch to ECM by Asset and the migration of ICM Clients to ISA are available on the Eurex Clearing website: www.eurexclearing.com under the following path:

Resources > Initiatives > Simplification of Client Segregation Models

Migration slots to switch to ECM by Asset can be arranged by contacting your Key Account Manager Clearing. As the migration slots are offered on a first-come, first-served basis, please contact your Key Account Manager now to obtain your preferred date.

Your Client Services Team
 

Recipients:All Clearing Members, Basic Clearing Members, Disclosed Direct Clients of Eurex Clearing AG, and vendors 
Contact:client.services@eurexclearing.com
Web:www.eurexclearing.com > Initiatives

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Eurex Clearing is part of Eurex Group. Find out more here.