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Mar 19, 2009

Eurex Clearing

Change in Intraday Margin Call Documentation

Risk Exposure is monitored by Eurex Clearing seamlessly on an event-driven basis during daily business hours (07:00 - 22:30 CET). An intraday margin call will be issued by telephone and confirmed by facsimile transmission as soon as the member‘s threshold (intraday margin call limit) is exceeded.

At present Eurex Clearing communicates via fax:

· the amount of the intraday margin call
· the breakdown of the margin requirement to NCMs (equivalent to report CC050)
· the timeframe

With Eurex Release 11.0, Eurex Clearing has introduced intraday risk reports, the Clearing-GUI-Screen “Margin Requirement Information” and the private risk management broadcast stream “K” (Margin Requirement Information), which enables all members to monitor their risks electronically in all markets cleared by Eurex Clearing.
Due to the availability of more sophisticated electronic data on NCM-level, (provided in report CC050) during the Intraday Margin Call Process, the detailed breakdown of margin requirements will no longer be distributed by fax after April 20, 2009.

Market Status

XEUR

The market status window is an indication regarding the current technical availability of the trading system. It indicates whether news board messages regarding current technical issues of the trading system have been published or will be published shortly.

Please find further information about incident handling in the Emergency Playbook published on the Eurex webpage under Support --> Emergencies and safeguards. Detailed information about incident communication, market re-opening procedures and best practices for order and trade reconciliation can be found in the chapters 4.2, 4.3 and 4.5, respectively. Concrete information for the respective incident will be published during the incident via newsboard message. 

We strongly recommend not to take any decisions based on the indications in the market status window but to always check the production news board for comprehensive information on an incident.

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