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Consultation on amendments of Special Provisions regarding the appointment of a Bidding Agent for default management auctions

Release date: 05 Dec 2017 | Eurex Clearing

No. 124/17 Consultation on amendments of Special Provisions regarding the appointment of a Bidding Agent for default management auctions

In line with the feedback received from the Clearing Members and the continuous improvement of the Default Management Process (DMP), Eurex Clearing AG (Eurex Clearing) proposes to clarify the Default Management Auction Rules regarding the possibility of appointment of a Bidding Agent to perform the bidding obligation. In particular, Eurex Clearing intends to specify in detail the arrangements around appointment of a Bidding Agent in order to retain a proper incentives structure within the CCP and increase transparency.

The planned amendments fall within the scope of Special Provisions of the Clearing Conditions of Eurex Clearing AG (Clearing Conditions) and are subject to a consultation process (Consultation).

Such Consultation will commence on 6 December 2017 and shall end on 8 January 2018 at midnight (Consultation Period).

The amended sections of the Default Management Auction Rules, as decided by the Executive Board of Eurex Clearing, are attached to this circular.