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Give-up/take-up

Give-up/take-up

Members can transfer transactions to other Members via a give-up. The following conditions must be met for a transaction to be available for give-up:

  • The transaction is "to open"
  • The source account is held gross (i.e. give-up from an M account is not possible)
  • The transaction duration has not expired (i.e. on T=trade date, T+1 and T+2)
  • The contract has not expired

All give-up/take-up requests by Exchange Members require the approval of their respective Clearing Member. Clearing Members may specify auto-approval per Exchange Member Participant. The give-up Clearing Member can approve at any time (i.e. it can be the first, second, or third action in the process). The take-up Clearing Member can only approve after the take-up Exchange Member has claimed or taken-up the transaction.



The initiating Member can cancel the give-up process as long as the status is “pending”. Deleted or rejected give-up transactions remain in the account of the Exchange Participant. The same applies for give-up transactions that are not fully accepted by the end of the post full-trading period.

Take-ups can be processed for accounts that are held gross. Pending give-up processes are not cancelled during a booking cut (EOD processing), but will automatically be reallocated on the next business day if the conditions for give-up (see above) are still met.

Transactions that are part of a pending give-up process cannot be adjusted.

 
What is a give-up/take-up?

The give-up functionality allows members to transfer transactions to other members. The receiving member and the respective Clearing Member must accept the give-up for it to become valid. Only transactions originating on the trading day (current give-up) or the previous T-2 trading day (historical give-up) may be designated for give-up. The acceptance of transferred transactions is called take-up. In our clearing brochure you’ll find more in-depth information.

 
 
 

Benefit from eGAINS


Since Eurex Clearing supports the eGAINS service from the FIA Technology Services, Inc., we will submit give-up and take-up information for all participating members to the eGAINS system.

 

What is eGAINS?

The eGAINS service is aimed to address inefficiencies in the brokerage, billing and payment process related to the processing of give-ups to allow for an electronic handling, reconciliation and break-management between executing and clearing brokers.

The eGAINS service is offered by FIA Technology Services, Inc., a wholly-owned subsidiary of FIA (Futures Industry Association).

How does Eurex support eGAINS?

Eurex Clearing incorporates a daily transfer of give-up and take-up related transaction data to the eGAINS system. To comply with data protection and privacy only give-up and take-up data where all involved parties have subscribed to the eGAINS service will be prepared for transmission to the eGAINS system.

How can a member participate in the eGAINS service?

In order to participate in this automated billing service, interested firms need to initiate an eGAINS agreement with the FIA Technology Service, Inc. This agreement covers the authorization to access participants' data and the authorization to pull the necessary funds from the participants' accounts.
Following this agreement between the participant and the FIA Technology Services, Inc., the members will be set up accordingly by Eurex Clearing.

The following members are participating in the eGAINS service so far :

Company name Member ID
Dresdner KleinwortKLBLO
Tradition Securities and FuturesSTAPA
Barclays CapitalBZWFR
Bache Commodities Ltd.PRULO
Goldman Sachs InternationalGSIEB
Marex Financial Ltd.MFLLO

ADM Investor Services International Ltd.          

ADMLO                 
Deutsche BankDBKFR
LinkTLALO
CitigroupSAILO
Merrill Lynch InternationalMLILO
The Royal Bank of ScotlandBOSLO
JPMorganJPMFR
Morgan Stanley & Co. International PLCMGILO
Voltrex LimitedVTXLO
Credit Suisse Europe (Securities)CSBLO
HSBC BankMIDLO
Newedge Group (UK Branch)FIMFR
R.J. O'Brien & Associates LLCROBCH
Nomura International PLCNOICX
UBSSBVZH
Royal Bank of Canada Europe LimitedRBOLO
 
 
 

Further information