A member of
Eurex Clearing
1. Introduction
This circular contains information with respect to the service offering of Eurex Clearing AG (Eurex Clearing) and introduces amendments to the Clearing Conditions of Eurex Clearing (Clearing Conditions) and the FCM Regulations of Eurex Clearing (FCM Regulations) regarding the following topic:
The planned effective date of these amendments will be 12 February 2022.
2. Required action
No specific actions are required by clients.
3. Details of the initiative
According to Regulation (EU) 2021/23, Central Counterparties (CCPs) are required to include a provision into their rules which allows for the deviation from recovery plan measures after notifying the national competent authority in order to achieve the goals of the recovery process.
Based on the proposed provision, Eurex Clearing will be entitled to (i) take recovery measures although the relevant indicators have not been met yet or (ii) refrain from taking recovery measures although the relevant indicators have been met.
To reflect the proposed changes, the following provision will be amended as outlined in Attachment 1 and Attachment 2:
Publication of amendments to the Clearing Conditions
As of the effective date, the full versions of the amended Clearing Conditions and the FCM Regulations will be available for download on the Eurex Clearing website www.eurex.com/ec-en/ under the following link:
Rules & Regs > Rules and Regulations
The changes and amendments to the Clearing Conditions 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 or a FCM 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.
Attachments:
Further information
Recipients: | All Clearing Members, Basic Clearing Members, Disclosed Direct Clients and FCM Clearing Members of Eurex Clearing AG and vendors | |
Target groups: | Front Office/Trading, Middle + Backoffice, IT/System Administration, Auditing/Security Coordination | |
Contact: | client.services@eurex.com | |
Web: | www.eurex.com/ec-en/ | |
Authorized by: | Dmitrij Senko |