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On-boarding

On-boarding

This overview is addressed to companies that aim to clear interest rate swaps, as a Registered Customer (RC) indirectly through a Clearing Member (CM) at Eurex Clearing.

New Registered Customer Admission Tool - an introduction

With the launch of our new Admission Tool, Eurex Clearing Members can process the admission of new Registered Customers in a transparent and efficient way. Learn more directly from our On-boarding Team.

 
 

How to on-board with us

Become a Clearing Member

In order to clear your own transactions and those of your Registered Customers and clients that do not hold a clearing license, you must become a General Clearing Members (GCM) with EurexOTC Clear. If you are interested in joining us please contact us at eurex-clearingrelations@eurexclearing.com

Access for Registered Customers

At Eurex Clearing, we also provide a variety of options for clients to connect indirectly to our service. As a buy side client, you can participate at EurexOTC Clear by passing your transactions to a Eurex Clearing Member who clears on your behalf. You can have one or many Clearing Members and one or many executing brokers.

As shown above, EurexOTC Clear provides the buy side with two options to connect to the service: as a Registered Customer which can be established by way of a signed tripartite agreement with Eurex Clearing and the Clearing Member, or as an agent of the Clearing Member. For more information contact your Clearing Member.

The following Clearing Members are ready to start the onboarding process 

Please contact the partner of your choice from the download list of EurexOTC Clear IRS Clearing Members.

Simulation

Transaction reporting

Find out more about transaction reporting under EMIR and using Deutsche Börse’s REGIS-TR as trade repository.

 
To test connection to the service, workflow, margin processes and reports, a simulation environment has been set up for both Clearing Members and their clients.
To get connected, the following interfaces should be in place:

  • UAT of MarkitWire (CM, RC)
  • OTC Clearing GUI (CM; post-trade functionality)
  • Derivatives Clearing GUI (DM; collateral management)
  • Common Report Engine (CM, optional RC; trade and risk reports)

To access the simulation environment, please contact us directly for further details on how to register for the service.

Our team

Our EurexOTC Sales Team is happy to assist you with any questions you may have regarding our IRS clearing service. We look forward to hearing from you.

Qualified Clearing Staff

As we strive to maintain high qualification levels of clearing firms for reasons of clearing house integrity, it is required to register at least one "Qualified Clearing Staff" (QCS) in the back-office with Eurex Clearing.
The Clearing Member has the following possibilities to provide proof of the qualification of the staff member that shall be in QCS:

  • The Compliance Officer of the Clearing Member confirms the respective knowledge of the staff member, or
  • The staff member has passed the Clearer Test (Basic Module), or
  • The staff member has passed the exam for the Certified Clearing Specialist, or
  • The staff member has attended the Core Clearing Knowledge seminar.

All tests, exams and seminars are offered by Deutsche Börse Capital Markets Academy.

If the Clearing Member is outsourcing its clearing, back office or risk management functions to an Insourcer, either the Clearing Member or the Insourcer has to have a QCS.

 
 
 

Contact

Eurex Clearing AG | London Office
Clearing Business Relations

T +44 207 8 62-76 56