A member of
Eurex Clearing
1. Introduction
This circular contains information and clarification with respect to the “Position Transfer with Cash Transfer” functionality in the case of zero positions (“Cash Only Transfer”).
The necessary measures with respect to Cash Only Transfers will come into effect on 3 August 2020.
2. Required action
Action is required from Clearing Members as well as DC Market Participants entering Cash Only Transfers.
3. Details
The Clearing Conditions of Eurex Clearing AG (Clearing Conditions), Chapter II Part 1 Number 1.3.3 (1), set out that “The ‘position transfer with cash transfer’ functionality may only be selected by entering a reference to the relevant original Eurex Transaction(s) as determined by the system of Eurex Deutschland.”
In order to ensure compliance with the Clearing Conditions, the following mandatory information must be provided by the Clearing Member or DC Market Participant when entering a Cash Only Transfer in the C7 Clearing GUI – Position Transfer entry window:
Eurex Clearing will monitor the entry of the mandatory information for Cash Only Transfers and might request additional information from Clearing Members or DC Market Participants (e.g. reason for transfer or original trade price) unless already added in the text field in the C7 Clearing GUI Position Transfer entry window.
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.
Further information
Recipients: | All Clearing Members, Basic Clearing Members, Disclosed Direct Clients of Eurex Clearing AG and vendors |
Target groups: | Front Office/Trading, Middle + Backoffice |
Contact: | clearing@eurexclearing.com |
Web: | www.eurexclearing.com |
Authorised by: | Jens Janka |