Amendments to the Clearing Conditions of Eurex Clearing AG

1. Introduction 

This circular introduces amendments to the Price List of Eurex Clearing AG regarding the following topic:

Change in the price basis for the fixed Position Management Fee to “Settlements” for instruments other than Exchange Traded Funds and Exchange Traded Products

The amendments will become effective as of 1 July 2026. Billing will commence on 3 July 2026.

2. Required action 

No immediate action is required.

3. Details of the initiative 

Change in the price basis for the fixed Position Management Fee to “Settlements” for instruments other than Exchange Traded Funds and Exchange Traded Products

For instruments other than Exchange Traded Funds and Exchange Traded Products, the price basis for the fixed Position Management Fee for Physical Deliveries resulting from Derivatives Positions (Number 3.11.5.1 of the Price List of Eurex Clearing AG) and for FWB Transactions (Number 6.3.1 of the Price List of Eurex Clearing AG) will be changed from “Net Position Trades” to “Settlements”.

For such transactions, a uniform price level of EUR 0.40 per settlement for the fixed Position Management service, irrespectively of the hold/release status of the Net Position Trade (on hold / not on hold) and irrespectively of the custody type (Collective Safe Custody / Non-Collective Safe Custody), will apply.

Fee Reporting

For fees charged on the new price basis "Settlements“, the respective quantities invoiced are provided in field “settlQntSettled” of the CB320 XML report, as documented in the Eurex Clearing XML Reports - Reference Manual.

Planned changes of price structure, e.g. the resulting fee differentiation between Exchange Traded Funds / Products and other instruments, will be reflected by respectively changed fee types provided in the field “feeTypNam” of the CB320 XML report.

Start of invoicing of fixed Position Management Fees based on “Settlements”

To avoid double-invoicing of transactions, billing based on settlements will commence on 3 July 2026.

Amendments to the legal framework of Eurex Clearing AG

To reflect the changes in the legal framework of Eurex Clearing AG, the following provisions will be amended as outlined in the Attachment:

• Numbers 3.11.5.1 and 6.3.1 of the Price List of Eurex Clearing AG

As of the effective date, the full version of the amended Price List will be available for download on the Eurex Clearing website www.eurex.com/ec-en/ under the following link: 3. Price List 

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. 

Attachment:  

• Amended sections of the Clearing Conditions of Eurex Clearing AG

Further information