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Aug 24, 2018

Eurex Clearing

Renewal of FCM Regulations; Amendments to the Clearing Conditions and the Price List of Eurex Clearing AG; Consultation on amendments to Special Provisions

In February 2016, the Commodity Futures Trading Commission (“CFTC”) granted Eurex Clearing the Status of a Derivatives Clearing Organization („DCO“) for the clearing of Swaps.

In this context, Eurex Clearing plans to launch a refined LSOC (= Legally Segregated Operationally Commingled) framework as soon as final approval by the CFTC is received. A more detailed description will be provided via a separate Eurex Clearing circular subsequently.

As a basis for the go-live, Eurex Clearing introduces renewed Futures Commission Merchant (FCM) Regulations exclusively for the LSOC frame­work.

The new FCM Regulations as well as additional amendments to the Clearing Conditions and related documentation will come into effect on 17 September 2018.

Related amendments to the GTC and Price List to the Connection Agreement will come into effect on 8 October 2018.

Further related amendments fall within the scope of Special Provisions of the Clearing Conditions and are subject to a consultation process (Consultation). Such Consultation will commence on 24 August 2018 and shall end on 24 September 2018 at midnight (Consultation Period).

Market Status

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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. 

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