Amendments to the Clearing Conditions, the FCM Default Rules and the Default Management Committee Rules of Eurex Clearing AG – End of Consultation

1. Introduction

As announced and further explained in Eurex Clearing Circular 051/24, Eurex Clearing AG (Eurex Clearing) proposed amendments to the Clearing Conditions of Eurex Clearing AG (Clearing Conditions), the FCM Default Rules of Eurex Clearing AG (FCM Default Rules) and the Default Management Committee Rules of Eurex Clearing AG (Default Management Committee Rules) regarding the following topics:

A. Entitlement to appoint employees of third-party entities as DMP-Coordinators and DMP-Deputies

B. Addition of Paris as an optional location to hold Default Management Committee (DMC) meetings

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 topics, as notified in Eurex Clearing Circular 051/24, will come into effect on 1 October 2024.

2. Required action

Clearing Members, ISA Direct Clearing Members, Disclosed Direct Clients, FCM Clearing Members, vendors and other affected contractual parties should take the changes to the Clearing Conditions and FCM Default Rules into account.

3. Details

Please refer to Eurex Clearing Circular 051/24 for more details.

As of the effective date 1 October 2024, the full version of the amended Clearing Conditions and FCM Default Rules will be available for download on the Eurex Clearing website www.eurex.com/ec-en/ under the following link:

Rules & Regs > Eurex Clearing Rules and Regulations

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 prior to the relevant effective date(s) as stipulated in this circular. In case of an objection by the respective contractual party pursuant the preceding sentence, Eurex Clearing AG is entitled to terminate the respective contract (including a Clearing Agreement, if applicable). Instead of submitting an objection, the respective contractual party may submit in writing to Eurex Clearing AG comments to any amendments of the legal framework of Eurex Clearing AG within the first 10 Business Days after the publication of the amendments. Eurex Clearing AG shall assess whether these comments prevent the published amendments from becoming effective taking into account the interests of Eurex Clearing AG and all contractual parties. 

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 the Clearing Conditions of Eurex Clearing AG, effective 1 October 2024 (subject to the Consultation)
• 2 – Amended sections of the FCM Default Rules of Eurex Clearing AG, effective 1 October 2024
• 3 – Amended sections of the Default Management Committee Rules of Eurex Clearing AG, effective 1 October 2024 (subject to the Consultation)

Further information