Eurex
1. Introduction
The German Federal Ministry of Finance (BMF) has issued a circular on 3 May 2021 on the VAT treatment of services provided by exchanges and other trading platforms for financial products.
According to the BMF, services for which the exchange operates as a Central Counterparty (CCP) and IT services (technical connectivity to exchange software/programs or provision of data center capacity), in general, form VAT-exempt services concerning securities. The same applies for services of the exchange for the settlement of exchange transactions (matching, clearing, settlement) and IT services.
The BMF expressly holds that it is possible to waive the exemption pursuant to sec. 9 German VAT Act (option to tax) and that IT services to recipients who do not participate in transaction are VATable.
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2. Required action
There is no action required for the Participants.
3. Details
Subject to further discussions with the tax authorities, Eurex Frankfurt AG intends to treat essential services in connection with the utilization of the Exchange EDP of Eurex Deutschland in general as VAT-exempt as of 1 July 2021. This includes fees for connection components required to provide this service.
In the next weeks, we will publish an additional Eurex circular with a detailed list of fee components and their VAT treatment, in time before the July billing run.
Further information
Recipients: | All Trading Participants of Eurex Deutschland and Vendors | |
Target groups: | Front Office/Trading, Middle + Backoffice, IT/System Administration, Auditing/Security Coordination | |
Contact: | client.services@eurex.com | |
Web: | www.eurex.com | |
Authorized by: | Randolf Roth |
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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