A member of
Eurex Clearing
1. Introduction
Corresponding to Eurex Circular 030/21, this circular contains an update to the Clearing Conditions of Eurex Clearing regarding the provisions for the FTSE 100 Index Total Return Futures Contracts that will be applied as of 29 March 2021.
2. Required action
There is no required action.
3. Details of the initiative
With Eurex Clearing Circular 015/21, Eurex Clearing announced that, effective 29 March 2021, it will offer clearing services for certain derivatives on the FTSE 100 Index and published the necessary amendments to its Clearing Conditions and the Price List.
On 29 March 2021 and with Eurex Circular 030/21, based on Trading Participant feedback, Eurex Deutschland announced an update to its Contract Specifications for FTSE 100 Index Total Return Futures Contracts to switch the applicable day count convention from ‘Act/360’ to ‘Act/365’. To keep the Clearing Conditions in line with the updated Contract Specifications, Eurex Clearing will apply corresponding amendments.
To reflect the change, the following provision will be amended as outlined in the Attachment:
The amendment will become formally effective as of 22 April 2021. As this amendment only contains a correction that has – due to the upcoming launch of the affected product – no impact on outstanding contracts, it will be applied already as of 29 March 2021.
The full version of the amended documents will be available for download on the Eurex Clearing AG website under the following link:
Rules & Regs > Rules and Regulations > Clearing Conditions
The 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 15 Business Days (or, in respect of amendments to the Price List, within the first 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:
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, IT/System Administration, Auditing/Security Coordination | |
Contact: | client.services@eurex.com | |
Related circular: | Eurex Clearing Circular 015/21 | |
Web: | www.eurex.com/ec-en/ | |
Authorised by: | Dmitrij Senko |