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11 Jan 2021

Eurex

Annual verification of Due Diligence of Eurex Deutschland Exchange Participants

Eurex Circular 003/21 Annual verification of Due Diligence of Eurex Deutschland Exchange Participants

1.  Introduction

Eurex Deutschland needs to verify that all exchange participants are compliant with the admission criteria of Eurex Deutschland on an annual basis. 

The applicable regulatory requirements are stipulated in Commission Delegated Regulation 2017/584 of 14 July 2016 supplementing Directive 2014/65/EU of the European Parliament and of the Council regarding regulatory technical standards specifying organisational requirements of trading venues. 

Article 7 of Commission Delegated Regulation 2017/584 obliges trading venues to set out conditions for using its electronic order submission system by its members and to conduct a due diligence assessment of their members against those conditions on an annual basis. These requirements are transposed into the applicable Exchange Rules of Eurex Deutschland.

2.  Action required

Exchange participants of Eurex Deutschland are required to submit the Due Diligence Statement by latest 5 February 2021.

The Due Diligence Statement is available here

Central Coordinators are requested to enter their company details, the personal PIN (please note that the PIN only belongs to the central coordinator and is the same PIN that was used to submit the latest Readiness Statement), tick the respective boxes and submit the Due Diligence statement.

Should you have lost your PIN or not received a PIN please contact your Key Account Manager.

Should you have any questions regarding the Due Diligence Statement please contact your Key Account Manager or client.services@eurex.com.

3.  Details of the regulation

The Eurex Deutschland annual Member Due Diligence Statement refers to the audit period January 2020 until December 2020 and covers the following categories:

  • Admission criteria as stipulated in the Exchange Rules of Eurex Deutschland, Section IV (Exchange Participants) and Section V (Access to the Trading System)
  • Admission criteria as stipulated Article 7 of Commission Delegated Regulation 2017/584 (Due diligence for members of trading venues) 
  • Requirements related to appropriate testing of the member's trading system, trading algorithm or trading strategy in accordance with Article 9 - Conformance testing of Commission Delegated Regulation 2017/584 
  • If applicable for your company, requirements as outlined in Commission Delegated Regulation 2017/589 of 19 July 2016 supplementing Directive 2014/65/EU of the European Parliament and of the Council with regard to regulatory technical standards specifying the organisational requirements of investment firms engaged in algorithmic trading
  • If applicable for your company, requirements related to appropriate testing of the member's algorithms to avoid disorderly trading conditions in accordance with Article 10 of Commission Delegated Regulation 2017/584.

Further information

Recipients:

All Trading Participants of Eurex Deutschland 

Target groups:

Front Office/Trading, Middle + Backoffice, IT/System Administration, Auditing/Security Coordination

Contact:

Your Key Account Manager Trading or client.services@eurex.com

Web:

www.eurex.com

Authorised by:

Randolf Roth


Market Status

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