29 Apr 2022

Eurex Clearing

Amendments to the Clearing Conditions and Auction Terms of Eurex Clearing AG

Eurex Clearing Circular 031/22 Amendments to the Clearing Conditions and Auction Terms of Eurex Clearing AG

1.  Introduction   

This circular contains information with respect to amendments to the Clearing Conditions and Auction Terms of Eurex Clearing AG.

In preparation to upcoming wind-down of Eurex Securities Transactions Services GmbH (Eurex STS) services, the amendments enable Eurex Clearing AG to conduct a replacement purchase using the B7 application (Buy-in Agent platform, formerly operated by Eurex STS), in order to process a buy-in for failing securities deliveries towards the CCP, in accordance with the Clearing Conditions of Eurex Clearing AG.

All amendments will become effective as of 30 May 2022.

2.  Required action

There is no required action for the participants.

3.  Details

Eurex Clearing AG amends the Clearing Conditions and Auction Terms as outlined in the Attachments to this circular in preparation of the upcoming discontinuation of Eurex STS’s service offering as Third Party Buy-In Agent.

The amendments of the Auction Terms of Eurex Clearing AG enable Eurex Clearing AG to conduct a replacement purchase via the B7 application. This happens in order to process a buy-in for failing securities deliveries towards the CCP, in accordance with the Clearing Conditions of Eurex Clearing AG.

The amendments will become effective on 30 May 2022. As of the effective date, the full versions of the amended legal framework of Eurex Clearing will be available for download on the Eurex Clearing website www.eurex.com/ec-en under the following link: 

Rules & Regulations > Eurex Clearing Rules & Regulations > 1. 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 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.
 

Attachments:

  • 1 – Amended sections of Chapter I of the Clearing Conditions of Eurex Clearing AG
  • 2 – Amended version of the Auction Terms 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, IT/System Administration

Contact:

client.services@eurex.com

Web:

www.eurex.com/ec-en/

Authorized by:

Jens Janka