Eurex Clearing
1. Introduction
As part of the annual review for OTC Interest Rate Derivatives Transactions (OTC IRD Transactions), Eurex Clearing AG (Eurex Clearing) will introduce the following:
2. Required action
There is no required action for the participants.
3. Details of the initiative
Eurex Clearing introduced the OTC IRD Standard Pricing Model B for Disclosed Clients with System Access and Basic Disclosed Clients with Reports (Disclosed Clients) in March 2019 to provide for an alternative fee schedule for participants who prefer clearing fee charges based on initial margin requirements.
The new model was initially introduced with a fixed discount of 15 percent on the applicable booking fee for OTC IRD Transactions cleared under this pricing model (Number 10.2.2 of the Price List) that was limited until 31 December 2021. Herewith, Eurex Clearing extends this discount until 31 December 2022.
Eurex Clearing further envisages to introduce a volume-depending rebate scheme for the fees of OTC IRD Transactions that will come into effect in 2023 and which replace the fixed discount of 15 percent on the booking fee. The conditions for the volume-depending rebate scheme will be determined and announced in 2022.
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.
Further information
Recipients: | All Clearing Members, FCM Clearing Members, Basic Clearing Members, Disclosed Direct Clients, FCM Clients of Eurex Clearing AG and vendors | |
Target groups: | Front Office/Trading, Middle + Backoffice, IT/System Administration, Auditing/Security Coordination | |
Related circulars: | ||
Contact: | client.services@eurex.com | |
Web: | www.eurex.com/ec-en/ | |
Authorized by: | Matthias Graulich |
