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The main requirements for an exchange participant status are the following:
Each exchange participant may execute their own and their customers' orders and is responsible for exercises and position management functions online. Each exchange participant is able to maintain a system-side overview of the payment and delivery obligations that result from their trading activities.
Exchange participants may enter into agreements with different Clearing Members on a per market basis (e.g. Eurex Exchange, Eurex Repo etc.). Additionally, for Eurex Exchange, an exchange participant can set up relationships with a maximum of five different Clearing Members. This offering is referred to as multiple clearing relationships (MCR) and enables exchange participants to clear different MCR-product groups with different Clearing Members. Exchange participants continue to have the flexibility to use the "give-up/take-up" functionality to transfer trades within one specific platform to another participant.
Since DC Market Participants have no direct contractual relationship with Eurex Clearing AG, transactions are essentially concluded between Eurex Clearing AG and a given Clearing Member, and in turn between that Clearing Member and the specific exchange participant. Also, margin deposits and fee payments, for example, are made to the clearing house via the contractually stipulated Clearing Member.
To obtain information on acceptable countries, please contact client.services@deutsche-boerse.com.