A member of
Eurex Clearing
On 15 May 2018, the German Federal Ministry of Finance (Bundesministerium für Finanzen, BMF) published a circular on the application of the German Investment Tax Act 2018 (“Investmentsteuergesetz; InvStG”). This BMF circular provided further clarification on withholding tax obligations in securities lending and repo transactions with German equity underlyings, in case one of the counterparties is an investment fund in meaning of the InvStG.
According to the BMF circular, Eurex Clearing in its role as central counterparty (CCP) will not be obliged to deduct German withholding tax on income derived from securities lending and repo transactions.
As of 1 January 2019, Eurex Clearing will disclose the original counterparties to the securities lending transaction in its clearing reports (“Abrechnungsunterlagen”), whenever the Clearing Member lender is an investment fund and/or a capital management company acting on behalf of an investment fund in the meaning of section 1 paragraph 2 InvStG.
In addition, Eurex Clearing will inform in its clearing reports that the obligation for German withholding tax deduction remains with the original borrower. Clearing Members acting as investment funds or acting as capital management companies on behalf of investment funds will not be eligible for clearing of German equities in repo transactions.
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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