Eurex Clearing charges a fee on securities collateral delivered as cover for margin requirements and on securities collateral delivered as default fund contributions (including any excess contributions).
The security collateral fee does not apply to securities collateral provided as cover for initial margin requirements for Basic DCs and DCs with System Access in gross omnibus and individual segregation as well as FCM Clients active in OTC Interest Rate Swap Derivatives Transactions (OTC IRD) only. However, precondition for Disclosed Direct Clients in gross omnibus segregation is that their Clearing Member has set up a separate collateral pool (OTC Collateral Incentive Pool) for such purpose.
The fee level depends on the cash proportion delivered to cover the calculated requirement (initial margin requirement or default fund requirements), following the sliding scale logic. The security collateral fee is calculated on a daily basis per collateral pool and reported via the CB235 - Daily Security Collateral Fee Statement. The security collateral fee is part of the Eurex Clearing invoice for clearing and services and settled monthly.
Sliding Scale Logic
* Basic DCs and DCs with System Access active in Eurex Exchange Traded Derivatives (Eurex ETD) only or in both Eurex ETD and OTC IRD (same member ID/ same account) as well as ISA Direct Clients (BCMs) will be charged half of the security collateral handling fee and the concentration add-on. For such purpose, Clearing Members will be required to set up for their Basic DCs and DCs with System Access in gross omnibus segregation a separate collateral pool (ETD Collateral Incentive Pool). The security collateral fee for ISA Direct Clients is waived until further notice.
** Waived until further notice.
*** Waived until further notice.
For the setup of the separate collateral incentive pool it is required to submit a special form which is available here.
In case of questions please contact your Group Client Key Account Manager Clearing.