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17 Apr 2015

Eurex Clearing

Update: Amendments to Eurex Clearing AG’s legal framework, new jurisdiction regarding the Elementary Clearing Model (ECM) and the Individual Clearing Model (ICM)

Update: Please note the disclaimer added at the very end of this circular.

This circular contains information with respect to amendments to the Clearing Conditions for Eurex Clearing AG (Clearing Conditions) and the General Terms and Conditions to the Agreement on the Technical Connection to the Clearing-EDP of Eurex Clearing AG (Terms and Conditions) regarding the following topics:

  1. Simplification of Clearing Agreements of Eurex Clearing AG
  2. Third-party Clearing Service for transactions concluded at the Frankfurter Wertpapierbörse (FWB®, the Frankfurt Stock Exchange)
  3. Consolidation of rules for Non-Clearing Members at Eurex Exchange regarding Qualified Back Office Staff (QBO)
  4. Amendments to the U.S. Person representations
  5. Changes to the Clearing Conditions regarding Enhanced Netting Service introduced with EurexOTC Clear Release 5.1
  6. Amendment of the scope of application of the General Terms and Conditions to the Agreement on the Technical Connection to the Clearing-EDP of Eurex Clearing AG (Terms and Conditions)

In addition, this circular provides information on the extension of jurisdiction with respect to the Elementary Clearing Model (ECM) and Individual Clearing Model (ICM) offered to Clearing Members in Norway under number 7.

The amended sections of the Clearing Conditions and the Terms and Conditions, as decided by the Executive Board of Eurex Clearing AG, are attached to this circular.

All amendments will come into effect on 12 May 2015 with exception of Numbers 5 and 6, which will come into effect on 1 June 2015. Number 7 will come into effect immediately upon publication.