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Oct 29, 2009

Eurex Clearing

UN Fenosa S.A.: Succession Event

According to the decision of the ISDA EMEA Determinations Committee on October 27, 2009 (Issue Number 2009100501), a succession event occurred in relation to Union Fenosa S.A on the September 1, 2009.

According to the decision, Gas Natural SDG S.A is the sole successor of Union Fenosa S.A. (for further information please refer to ISDA’s website (www.isda.org/dc/successionrequests.asp).

The following consequences arise out of this succession event:

  1. Single name CDS Union Fenosa S.A. (old RED code: ENC488) is no longer eligible for clearing at EurexCredit Clear with immediate effect, i.e. starting with novation cycle of October 29, 2009.
  2. For risk valuation purposes, index constituent Gas Natural SDG S.A has received the index weight of index constituent Union Fenosa S.A., effective batch run of October 27, 2009.

Should you have any questions, please feel free to contact the Eurex Credit Clear hotline at tel. +49-69-211-1 92 00 or email to eurexcreditclear@eurexclearing.com.

Market Status ⓘ

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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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