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?
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 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).
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
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.
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).
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.
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:
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.
The signatories on the account opening forms and the Customer Identification template (CIT) need to be checked. The list of authorized signatures must:
This is required for the tax code and FATCA (Foreign Account Tax Compliance Act) purposes.
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.
This is required when a trust has been identified in the ownership structure of the customer which owns (directly or indirectly) 25% or more.
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:
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 email@example.com.
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