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Eurex Clearing
Eurex Clearing AG (Eurex Clearing) intends to amend its capital structure to further strengthen the default waterfall. In particular, Eurex Clearing plans to:
The changes contribute to Eurex Clearing’s continuous efforts to optimise and provide maximum transparency around the CCP’s default management process and default waterfall. The Risk Committee of Eurex Clearing advised the Supervisory Board of Eurex Clearing to implement these changes during its meeting on 12 November 2015.
The planned amendments relate to Special Provisions of the Clearing Conditions of Eurex Clearing (Clearing Conditions) and are subject to a consultation process (Consultation), to which Eurex Clearing hereby invites all Clearing Members, Non-Clearing Members and Registered Customers to submit comments. The Consultation on the proposed amendments will start on 19 November 2015 and shall end on 19 December 2015 at midnight.
The effective date of the planned amendments will be announced by Eurex Clearing in a separate circular, which will be published no less than 15 business days before such effective date. The planned amendments to the Clearing Conditions, as decided by the Executive Board of Eurex Clearing, are attached to this circular.