Eurex Clearing conducts an annual Default Management Process (DMP) simulation, known as a Fire Drill, to ensure the effectiveness of its and its Clearing Members' (CM) default procedures. Eurex Clearing will participate in a multi-CCP Fire Drill, coordinated by CCP Global, which includes porting and follows a common narrative and timing. It takes place from 03 till 07 November 2025.
Next DMP simulation: 03 - 07 November 2025
Circulars
Release Items/Participants Requirements
Feature/Enhancement | Details | Action Item |
Maintenance of contacts | Eurex Clearing AG requires all Clearing Members to maintain and update contact information for their "DMP Coordinator" and "DMP Deputy" to ensure effective communication during the Default Management Process (DMP). |
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Hedging Auction Participants | The Fire Drill will likely cover Hedging Auctions for the Listed Equity (Index) Derivatives Liquidation Group (PEQ01) and the Listed Fixed Income Liquidation Group (PFI01), in which case clients will be also contacted bilaterally at a later stage. | Prepare for potential participation in hedging auctions for the Listed Equity (Index) Derivatives Liquidation Group (PEQ01) and the Listed Fixed Income Liquidation Group (PFI01). |
Voluntary Participation | In addition to mandatory participation, Clearing Members are encouraged to join voluntarily. Participants will gain insights into Eurex Clearings Default Management Process, utilize the auction tool, assess portfolios, and provide valuable feedback. | To voluntary participation in the Fire Drill, please register for via DMP_Inbox@deutsche-boerse.com. |
Client Participation in Liquidation Process | Contact the Eurex Default Management Team and your Clearing Member to set up the necessary documentation and users. | |
Porting | Eurex Clearing will include a porting module to simulate the transfer of clients from a defaulted Clearing Member to another, as outlined in the "CIDS 2025 Exercise Guidance Letter" from CCP Global. | Participation in this simulation is voluntary but encouraged for both Clearing Members and Disclosed Direct Clients. To participate, register via client.services@eurex.com. |
Further mandatory participation requirements | Eurex Clearing will notify selected Clearing Members about mandatory participation at a later stage. Mandatory participants will receive an email notification sent to their DMP Coordinator and deputy. | No action required. |
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Contacts
Eurex Frankfurt AG
Key Account Management
Service times from 09:00 - 18:00 CET
