A member of
Eurex Clearing
This circular outlines further developments on the general clearing framework of potential Section 871 (m) Internal Revenue Code (IRC) transactions (hereinafter: potential Section 871 (m)-transactions) and reminds all Clearing Members of Eurex Clearing AG (Eurex Clearing) to fulfill all requirements of the relevant regulations of the IRC with particular reference to all withholding and reporting obligations as laid out in Eurex Clearing circulars 028/17 and 074/17.
This circular contains the updated sections of the Clearing Conditions of Eurex Clearing AG (Clearing Conditions), which will come into effect on 3 April 2018. The changes include:
· Acting either as a primary withholding Qualified Intermediary (QI-A)
or as Qualified Derivatives Dealer (QDD) will become a formal prerequisite for the clearing of potential Section 871 (m)-transactions.
· As outlined in the previous circulars 028/17 and 074/17, all Clearing Members are requested to provide Eurex Clearing with all information required for the purposes of Form 1042/1042-S reporting and reporting reconciliation.
Kindly forward this circular to all involved departments within your company.
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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