Client Due Diligence

Why performing Customer Due Diligence?

Eurex is legally required by the German Money Laundering Act and the EU Money Laundering Directive to conduct a due diligence exercise on its customers.  

When do we request information from you?

We conduct a KYC (Know Your Customer) assessment at the time of onboarding a customer and periodically during the ongoing business relationship. A risk-based approach is used in order to mitigate the customer compliance risk effectively. As per the KYC requirements, we collect and maintain up-to-date KYC documents and information for the customer’s business relationships with us.  

What KYC documentation we request from you?

1. Articles of Association

  • Purpose: This document is  required for an Onboarding and during KYC periodic review if a change has occurred 
  • Validity: The most recent version 

Please provide the Memorandum or Articles of Association (or statutes or by-laws or articles of incorporation or charter) that governs your company and contains information on the following: 

  • Business purpose and list of activities the entity is authorized to exercise 
  • Name of the regulator 
  • Responsibilities of directors and management
  • Means by which the shareholders exercise control over the board of directors 
  • Details on whether the entity is allowed to issue bearer shares (shares owned by whosoever holds the physical paper/stock certificate) 

2. Business / Banking / Financial License

  • Purpose: This document is required for an Onboarding and KYC periodic review 
  • Validity: The most recent version, not be older than 3 months for Onboarding and 6 months for KYC periodic review 
      

Business License reflects proof of regulation. It acts as evidence that the member firm is licensed as a financial services provider and/or regulated or listed by the relevant authority or self-regulatory industry association according to the legal requirements of its jurisdiction. 

If your entity is established by a law or decree, please provide proof of set up / establishment stating the respective legislative law, act or decree or an official document issued by the relevant governmental authority proving the set-up and supervision or a charter of public authorities (such as governmental decrees). 
 

3. Commercial Register Excerpt

  • Purpose: This document is required for an Onboarding and KYC periodic review 
  • Validity: The most recent version, not be older than 3 months for Onboarding and 6 months for KYC periodic review 
      

Commercial register reflects proof of existence. It acts as evidence that the member firm is currently registered as an active legal person. Please provide an excerpt from the public register of companies or trade registry or the office of Secretary of State etc. of the relevant jurisdiction. It should be issued by the local authority which oversees company registrations or is downloadable from this authority’s website. 

If an entry in the Register of Companies does not exist, corresponding evidence could be provided via

  • Certificate of Incorporation or 
  • Provisions by law or in the articles of association applicable to the specific entity (e.g. for a central bank, the Central Bank Law of the respective jurisdiction)

4. Wolfsberg Questionnaire (CBDDQ or FCCQ)

  • Purpose: This document is required for an Onboarding and KYC periodic review  
  • Validity: Should not be older than 1 year 
     

Wolfsberg Questionnaire is an AML Questionnaire that covers the major aspects of the financial crime programs, these being the AML (Anti Money Laundering), ABC (Anti bribery and corruption) and Sanctions related topics. Please provide the filled in Wolfsberg Questionnaire (CBDDQ or FCCQ). 

What is the difference between CBDDQ and FCCQ?

The Wolfsberg CBDDQ (Correspondent Banking Due Diligence Questionnaire) is requested from customers who perform client (agency) business. 

The Wolfsberg FCCQ (Financial Crime Compliance Questionnaire) is requested from customers who perform proprietary business with us.

For more guidance how to fill in the questionnaire please visit: the Wolfsberg Group.

5. Customer Identification Template (CIT)

  • Purpose: This document is required for an Onboarding and KYC periodic review  
  • Validity: Should not be older than 1 year 


The CIT contains all relevant information to identify a customer e.g. customer basic data, ownership data, executive management data and sanctions certificate. Members are requested  to fill out our Customer Identification Template (CIT).
 

6. Ownership and Shareholder Structure Chart

  • Purpose: This document is required for an Onboarding and KYC periodic review  
  • Validity: Should not be older than 1 year 
       

The Ownership and Structure chart is required along with the the Customer Identification Template (CIT). Please provide a visual representation of all significant shareholders owning or controlling directly or indirectly more than 10% of the company’s shares. It is necessary to indicate the ownership or shareholding percentages with each connector in the chart. 

7. Passport / ID Card of Ultimate Beneficial Owner (UBO)

  • Purpose: This document is required for an Onboarding and KYC periodic review  
  • Validity: Should not be passed the expiry date
      

The passport or ID card is required  to verify the identity of an Ultimate Beneficial Owner (UBO).  A “Beneficial Owner” is the natural person who ultimately owns or controls the customer or entity and/or on whose behalf a transaction or activity is being conducted. It comprises natural persons that directly or indirectly, through holding companies or pooling of interest, own or control 25% or more of the share capital, business interest or voting rights. For the identification of Ultimate Beneficial Owners, a copy of a valid Passport or ID card is required which displays the following information:  

  • Full name 
  • Place of birth 
  • Date of birth 
  • Citizenship 
  • Address of residence 
  • Nationality 

8. Annual Report

  • Purpose: This document is required for an Onboarding and KYC periodic review 
  • Validity: Should be the most recent 
     

Please provide  the most recent audited Annual Report with financial statements on your company. If an Annual Report is not published for your company, then please provide the most recent annual financial statements. 

9. Authorized Signature List

  • Purpose: This document is required for an Onboarding and KYC periodic review  
  • Validity: Should not be older than 6 months 
     

The signatories on the account opening forms and the Customer Identification template (CIT) need to be checked. The list of authorized signatures must: 

  • Clearly state that the listed persons are authorized to represent the company 
  • The correct name of the signatory and a sample of the corresponding signature must be shown next to it  
  • The list must have been issued and signed by persons who are authorized to give the representation authorization to individuals 

10. FATCA

  • Purpose: This document is required for an Onboarding of a Eurex Clearing member  
  • Validity: Should be the most recent 
     

This is required for the tax code and FATCA (Foreign Account Tax Compliance Act) purposes. 

11. US Patriot Act Certification

  • Purpose: This document is required for an Onboarding and KYC periodic review  
  • Validity: Should not be older than 3 years
     

This is required only for Non-US Banks (entities organized under non-US law and located outside of the United States) maintaining a correspondent account with any US Bank or US broker-dealer in securities.

12. Trust Deed

  • Purpose: This document is required for an Onboarding and KYC periodic review  
  • Validity: The most recent version 
      

This is required when a trust has been identified in the ownership structure of the customer which owns (directly or indirectly) 25% or more. 

13. Fund Prospectus 

  • Purpose: This document is  required for an Onboarding and during KYC periodic review if a change has occurred 
  • Validity: The most recent version 

  
For a fund, please provide a Fund Prospectus or a similar official document that includes detailed information on the fund, the type (special or mutual fund) and its management.

Who is the KYC Contact?

In order to fulfil the KYC requirements in both of our interests and with the aim of streamlining subsequent administrative processes and making it a simpler and easier experience for you, we request you to provide a KYC contact.  

The KYC contact will be responsible for providing KYC information for all the business relationships. KYC information includes all information to comply with KYC requirements, especially those related to funding of terrorist activities and money laundering.

The following information of your KYC contact is required:

  • Full Name
  • Email Address
  • Phone Number

You can provide the KYC contact via the following:

Have you signed the Letter of Consent?

The Letter of Consent  is a declaration of consent for data sharing within the various Deutsche Börse Group (“DBG”) entities with which you maintain a business relationship. Customers which have signed the Letter of Consent benefit from a streamlined process in respecting to future onboardings and periodic KYC (Know Your Customer) reviews, as you are only required to provide the requested set of KYC documents once, regardless of the multiple business relationships you may have across the several DBG entities.

Do you know the SWIFT KYC Register?

We are a member of the SWIFT KYC Registry. We are happy to utilize the relevant KYC files in the SWIFT network as soon as our customers have made the most recent documentation available there. Eurex Clearing AG is participating in the SWIFT KYC Registry where all required documents/information are stored. Eurex Clearing AG updates the registry on an annual basis or ad-hoc (if required).  The SWIFT KYC Registry can also be accessed via the following link: SWIFT KYC Register

If you require further information, please contact us at client.services@eurex.com

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