Mar 22, 2018
Eurex Clearing
Introducing a new client type: Eurex “Specified Client”
Within its capital asset protection options, Eurex Clearing offers customers a variety of client types to accommodate risk appetite and individual capital requirements. Clients, here a client of a Clearing Member, can be either undisclosed or disclosed (i.e. known) to Eurex Clearing. Depending on the client type, varying levels of position segregation and asset protection can be achieved. In response to client demand, Eurex Clearing has introduced a new, simpler client type. This new set-up will significantly shorten onboarding timelines and ease the operational burden of onboarding clients to Eurex Clearing.
Specified Client (SC)
A Specified Client is a direct client of a Clearing Member and is disclosed to Eurex Clearing. Eurex Transactions and OTC Derivatives Transactions relating to SCs are maintained in a client-related position account of the Clearing Member qualified as GOSA. An SC is not required to enter into a contractual relationship with Eurex Clearing AG and therefore does not need to sign a tripartite clearing agreement with its CM and Eurex Clearing.
As a result, onboarding has never been this easy. With the new “Specified Client” type, your client can be up-and-running with Eurex Clearing in just five simple steps:
- Clearing Member sets up a Direct Client in the online tool
- Clearing Member enters static data points into the online tool
- Eurex Clearing reviews the static data provided
- Eurex Clearing conducts KYC/AML checks as required
- Clearing Member validates the accuracy of the client data
For more information on our client types, please click here.
