Eurex Reserves and Own Capital

The Clearing House's accrued reserves and liability capital also form part of our Lines of Defense. Accrued reserves are used after the contributions of the Clearing Member in default are exhausted, but before we draw on the contributions of other Clearing Members. The accrued liability of Eurex Clearing represents Eurex's contribution to the Clearing Fund and consists of capital reserves that are comprised of the annual net profit of Clearing House.

Liability capital is the Clearing House's last Level of Defense and will only be touched if the renewal of the contributions to the Clearing Fund by Clearing Members has not been sufficient to balance the financial deficit.