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Mandatory prerequisites

Mandatory prerequisites

Mandatory porting requirements, infrastructure setting and required forms

The porting of transactions and collateral to a Replacement Clearing Member is operationally close to the process of a regular Clearer Change. In addition to the fulfilment of the Porting Requirements, the Replacement Clearing Member must provide certain forms/documents to ensure the set-up and migration of the clients into its Eurex Clearing environment. 

The Replacement Clearing Member as well as the Disclosed Direct Clients should check the compatibility of each other's infrastructure and set-up in the Eurex Clearing system.

The following list provides an overview of further requirements to migrate transactions and collateral that need to be taken into consideration by the members:

  • Clearing License(s) incl. cleared products and/or currencies
  • Cash infrastructure
  • Pledged securities account
  • Settlement netting parameters (cash markets)
  • Provision of technical infrastructure to Disclosed Direct Clients
 

Omnibus Segregated (OSA)

To be provided by the Disclosed Direct Clients (DC) prior to the expiry of the Porting Period:

 Required activitiesRelated document template:
(1)

Provide Election Notice

In addition, provide a list of authorised signatories that are entitled to represent the DC


ECM Porting Election NoticeECM Porting Election Notice (Authorised Manager)

To be provided by the Replacement Clearing Member (RCM) prior to the expiry of the Porting Period:

 Required activitiesRelated document template
(1)Confirmation to Eurex Clearing that the relevant DC to which the transactions under the relevant Standard Agreement relate, has designated, and has taken all necessary steps to allow, the RCM to act as its future CM in respect of the Clearing of all its transactions that correspond to transactions under the relevant Standard Agreement either as ISA Transactions or as Omnibus Transactions of the RCM.ECM (GOSA) Porting Requirements DeclarationECM (NOSA) Porting Requirements Declaration
(2)Confirmation that all Undisclosed Direct Clients (UDCs) combined in the relevant Porting Unit unanimously elect the RCM as their new CM.
(3)Entering into a transfer agreement with Eurex Clearing.Porting Transfer AgreementPorting Data File
(4)Submission of an excel-list with all transactions of the UDCs of the respective Porting Unit of the Defaulted CM.Derivatives Positions Porting TemplateFlex Positions Porting TemplateOTC IRS Trades Porting TemplatePending Trades Porting Template
(5)Pay or commit to pay the outstanding Margin and/or Variation Margin for the transactions of the transferred Porting Units.none
 Additional requirements 
(6)Account set-up informationCSD Selection Sheet
(7)Provision of set-up information on target account of the migration
Segregation Set-Up Sheet

Individually Segregated (ISA)

To be provided by the Disclosed Direct Clients (DC) prior to the expiry of the Porting Period:

 Required activitiesRelated document template:
(1)

Provide Election Notice

In addition, provide a list of authorised signatories that are entitled to represent the DC


ISA Porting Election NoticeISA Porting Election Notice (Authorised Manager)

To be provided by the Replacement Clearing Member (RCM) prior to the expiry of the Porting Period:

 Required activitiesRelated document template
(1)Confirmation to Eurex Clearing that the relevant DC to which the transactions under the relevant Standard Agreement relate, has designated, and has taken all necessary steps to allow, the RCM to act as its future Clearing Member (CM) in respect of the Clearing of all its transactions that correspond to transactions under the relevant Standard Agreement either as ISA Transactions or as Omnibus Transactions of the RCM.ISA Porting Requirements Declaration
(2)Entering into a transfer agreement with Eurex Clearing.Porting Transfer AgreementPorting Data File
(3)Pay or commit to pay the outstanding Margin and/or Variation Margin for the transactions of the transferred Porting Units.none
 Additional requirements 
(4)Account set-up informationCSD Selection Sheet
(5)Provision of set-up information on target account of the migration
Segregation Set-Up Sheet