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 Price List of Eurex Clearing (Price List) regarding the following topic:
Effective 1 October 2026: Introduction of a Single ISIN Repo Transaction threshold for the application of a reduced minimum transaction fee
Eurex Clearing will introduce a threshold for the first 1,000 transactions per calendar month for cleared Single ISIN Repo Transactions beyond which the minimum clearing fee per trade reduces from EUR 15 to EUR 3 per transaction.
2. Required action
No action required.
3. Details of the initiative
Introduction of a Single ISIN Repo Threshold for a Reduced Minimum Transaction Fee
Effective 1 October 2026, Eurex Clearing will introduce a threshold for the first 1,000 transactions per calendar month for the cleared Single ISIN Repo Transactions beyond which the minimum clearing fee per transaction reduces from EUR 15 to EUR 3 for each additional transaction cleared. This change aims to provide a significant fee incentive, if the number of cleared transactions with Eurex Clearing increases, especially for smaller-sized, short-term transactions. This change is expected to meaningfully reduce clearing fees for clients with higher monthly transaction volumes.
After 1,000 cleared transactions per Clearing Member or Market Participant per month, the minimum fee per for Single ISIN Repo Transactions will be reduced from EUR 15 to EUR 3:
0 – 1,000 trades per month: Final transaction fee is the higher of the variable fee or EUR 15
> 1,000 trades per month: Final transaction fee is the higher of the variable fee or EUR 3
The following provision of the Price List will be amended as outlined in attachment 1 with effect from 1 October 2026:
As of the effective date, the full versions of the amended Price List will be available for download on the Eurex Clearing website under the following link:
Rules & Regs > Eurex Clearing Rules & Regulations > 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:
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, Auditing/Security Coordination |
Contact: | |
| Authorized by: | Manfred Matusza |