A member of
Eurex Clearing
1. Introduction
This circular contains information with respect to Eurex Clearing’s service offering and corresponding amendments to the Clearing Conditions of Eurex Clearing AG (Clearing Conditions) regarding the following topic:
In this context, the respective provisions of the Clearing Conditions will be amended effective 4 May 2020.
2. Required action
There is no action required from the Clearing Members.
3. Details
For Futures Contracts, the Clearing Conditions contain fallback provisions allowing Eurex Clearing to determine daily settlement prices “at its reasonable discretion”, if the determination pursuant to the regular procedures is not possible or would not reflect the true market conditions.
The fallback provision will be corrected as follows:
In this context, the following provision will be amended as outlined in the attachment:
As of the effective date, the full version of the amended Clearing Conditions will be available for download on the Eurex Clearing website www.eurexclearing.com under the following link:
Resources > Rules and Regulations > Clearing Conditions
The changes and amendments to the legal framework of Eurex Clearing AG published by this circular are deemed accepted by each affected contractual party of Eurex Clearing AG, unless the respective contractual party objects by written notice to Eurex Clearing AG within the first ten (10) Business Days after publication. Any ordinary right of Eurex Clearing AG to terminate the respective contract (including a Clearing Agreement, if applicable) shall remain unaffected.
Unless the context requires otherwise, terms used and not otherwise defined in this circular shall have the meaning ascribed to them in the Clearing Conditions of Eurex Clearing AG, as applicable.
Attachment:
Further information
| Recipients: | All Clearing Members, Basic Clearing Members, Disclosed Direct Clients of Eurex Clearing AG and vendors |
| Target groups: | Front Office/Trading, Middle + Back Office |
| Contact: | client.services@eurexclearing.com |
| Web: | www.eurexclearing.com |
| Authorised by: | Heike Eckert |