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27 Oct 2020

Eurex Clearing

Amendments to the Clearing Conditions of Eurex Clearing AG - End of Consultation

Eurex Clearing Circular 090/20 Amendments to the Clearing Conditions of Eurex Clearing AG - End of Consultation

1. Introduction

As announced and further explained in Eurex Clearing circular 076/20, Eurex Clearing AG (Eurex Clearing) proposed changes and amendments to the Clearing Conditions of Eurex Clearing AG (Clearing Conditions) regarding the following topic and conducted a Consultation under the Clearing Conditions:

  • Introduction of USD as a new clearing currency for the LSOC OTC IRD clearing model (with regard to Chapter I Part 1 Number 6 of the Clearing Conditions)

Eurex Clearing has received no comments that led to further changes or amendments of the Special Provisions of the Clearing Conditions and no requests for the application of a Prolonged Notification Period.

Therefore, all changes and amendments regarding the above-mentioned topic, as notified in Eurex Clearing circular 076/20, will come into effect on 19 November 2020.

2. Required action

Clearing Members, Basic Clearing Members and Disclosed Direct Clients of Eurex Clearing AG should take the amendments to the Clearing Conditions into account.

3. Details

Please refer to Eurex Clearing circular 076/20, item D. for details.

As of the effective date, the full versions of the Clearing Conditions will be available for download on the Eurex Clearing AG website www.eurex.com/ec-en/ under the following link:

Rules and Regs > 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 or FCM Clearing Conditions of Eurex Clearing AG, as applicable.

Attachment:
(numbering according to Eurex Clearing circular 076/20)

  • Attachment 5: Amended sections of Chapter I of the Clearing Conditions


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, IT/System Administration, Auditing/Security Coordination

Related circular:

Eurex Clearing circular 076/20

Contact:

client.services@eurexclearing.com

Web:

www.eurex.com/ec-en/

Authorised by:

Jens Janka