A member of
Eurex Clearing
1. Introduction
On 2 September 2024, Eurex Clearing AG (Eurex Clearing) announced a change to the calculation of the Contribution Requirements by introducing a Default Fund Operational Buffer component to the calculation formula with an initial size of 15 percent (Eurex Clearing Circular 045/24).
With this circular Eurex Clearing announces that the Default Fund Operational Buffer will be reduced from its initial size of 15 percent to 5 percent with effective date 1 August 2026.
2. Required action
Clearing Members are requested to be prepared to meet the new Contribution Requirements beginning of August 2026.
3. Details of the initiative
As originally announced in Eurex Clearing Circular 045/24, Eurex Clearing introduced on 2 September 2024 a Default Fund Operational Buffer which was initially set to a size of 15 percent.
With this circular, Eurex Clearing announces that the Default Fund Operational Buffer will be reduced from its initial size of 15 percent to 5 percent as part of an annual review process. The new size of the Default Fund Operational Buffer will be effective on 1 August 2026, with the end-of-day values from 31 July 2026 via the monthly Default Fund recalibration process.
The change of the size of the Default Fund Operational Buffer will not have any technical impact on Member reports.
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, ISA Direct Clearing Members, Disclosed Direct Clients of Eurex Clearing AG and vendors | |
Target groups: | Front Office/Trading, Middle + Backoffice, IT/System Administration | |
Related circulars: | ||
Contact: | Your Clearing Key Account Manager or risk@eurex.com | |
Web: | www.eurex.com/ec-en/ | |
Authorized by: | Dmitrij Senko |