The Buy-in Agent Service offered by Eurex Securities Transactions Services GmbH (Eurex STS) is a solution for the regulatory obligation to trigger Buy-ins according to the Central Securities Depository Regulation (CSDR).
Eurex STS collects Buy-in requests from its Clients and purchases the securities from registered Network Partners in an auction, thereby protecting the interest of the Failing Counterparty as well as the buyer. Following a successful auction, the purchased securities will be delivered by Eurex STS to the Client.
All messages, cash- and securities flows related to Buy-in requests are triggered and exchanged automatically, supported by state-of-the-art technology. Depending on the different member roles, the Buy-in Agent system allows for different functional setups.
Eurex STS provides market participants with an innovative solution to enable them to fulfill their regulatory obligations from the Settlement Discipline Regime under CSDR. The service will be offered to eligible counterparties (as defined by MiFID II) only.
We plan to offer the following Optional Services for the service launch in February 2022.
The availability of some of the planned Optional Services will depend on technical feasibility and market standards.
Institutions wishing to connect with Eurex STS may elect to participate directly as a Client. It will also be possible to access the Buy-in Agent as Principal Party through an intermediary. Additionally, all Clients may apply for the Network Partner role to participate in auctions and sell securities.
Eurex Securities Transactions Services GmbH allows membership in the Buy-in Agent service under the following conditions:
✔️ The entity is domiciled in the EEA, United Kingdom or Switzerland (further selected jurisdictions on request)
✔️ The entity is an eligible counterparty as defined by WpHG (§ 67)
✔️ Signed Eurex STS legal documentation