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Customer Due Diligence

Customer Due Diligence

Eurex Clearing is legally required to conduct a due diligence process on its customers. As Clearing House and Credit Institution we therefore have been conducting a KYC assessment as a part of our customer acceptance process as well as periodically during the ongoing business relationship on a risk-based approach. The high standards we have set herewith are helping us to maintain the high level of integrity and to mitigate Customer Compliance Risk effectively. A benefit for us and our clients. On this website we want to provide you with current information about the required documentation that we request from our customers.

Process

In order to minimize the administrative impact on our customers, the KYC Service Team has implemented the following steps:

  1. Retrieve required documents from official reliable sources that are publicly available (e.g. download of publicly available registers, excerpts from the website of the regulatory authority in charge, or clients websites).
     
  2. We are a member of the SWIFT KYC Registry. We are happy to perform a technical handshake with our customers and utilize the relevant KYC files in the SWIFT network as soon as our customers have made the most recent documentation available there.
     
  3. Only documents that are not available at this stage, will be requested from our customers directly by the KYC Service Team.

All KYC related documents are reviewed by the KYC Service Team as soon as available. After an additional business assessment has been performed, our Compliance Function will conduct the final assessment. Please consider that questions may occur at any time during this process and colleagues of the KYC Service Team may reach out to you.

Letter of Consent

In order to simplify the KYC review for multiple business relations with Group Deutsche Börse (GDB) entities, we recommend to submit the “Letter of Consent”. The letter of Consent enables entities of GDB to share KYC documents between group entities. This decreases the administrative burdens for our customers – e.g. a DC Market Participant of Eurex Clearing AG and a Eurex Trading Member will only have to provide the KYC documents once to ECAG rather than sending the documentation twice. The Letter of Consent is here availble: Letter of Consent.

Compliance Contacts

We send the automated document requests to the compliance contact that is maintained in our Member Section. If you have not yet registered a Compliance Contact in the Member Section, we kindly ask you to do so under the following path: www.eurexclearing.com > Member Section > Contacts > Compliance Contacts. If feasible in your organization, please indicate a group email address for the Compliance function in your company, so you do not have to update the entry when responsibilities in your company change.

Corresponding Newsflashes

If you have any questions or require further information, please do not hesistate to contact us at: ecag.client-due-diligence@eurexclearing.com