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Decommissioning of Risk-based Margining: Mandatory migration timeline to Eurex Clearing Prisma

Release date: 23 Sep 2014 | Eurex Clearing

No. 136/2014 Decommissioning of Risk-based Margining: Mandatory migration timeline to Eurex Clearing Prisma

With this circular, Eurex Clearing would like to inform all Members and customers about the timeline of decommissioning Risk-based Margining (RBM) and the mandatory migration to Eurex Clearing Prisma, the new portfolio-based risk methodology.

Eurex Clearing Prisma is being introduced in a stepwise approach. During 2015, RBM and Prisma will continue to run in parallel, allowing Members to migrate to the new risk method at their own pace. The main product groups equity derivatives, equity index derivatives and fixed income derivatives are already available in Prisma. Further products will be added in the course of 2015. Eurex Clearing will decommission RBM in two major steps as follows:

First step
end of 2015:

Decommissioning of RBM for all exchange-traded derivatives (ETDs) assigned to Liquidation Groups in Eurex Clearing Prisma by the end of 2015.

Second step end of 2016:

Full decommissioning of RBM for all remaining products cleared by Eurex Clearing (equities, bonds, repos etc.).

Eurex Clearing recommends that all Members and customers who are still using RBM plan for an early migration to allow for a smooth transition to the new methodology. By the end of 2015, using Eurex Clearing Prisma will become mandatory for all ETDs assigned to Liquidation Groups in Eurex Clearing Prisma. At the same time, RBM will no longer be supported for these products.

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