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Amendments to the Price List of Eurex Clearing AG

Release date: 02 Dec 2019 | Eurex Clearing

No. 112/2019 Amendments to the Price List of Eurex Clearing AG

Eurex Clearing Circular 112/19

1.    Introduction

This circular contains information with respect to the service offering of Eurex Clearing AG (Eurex Clearing) and introduces amendments to the Price List of Eurex Clearing AG (Price List) regarding the following topics:

A.    Fees for physical settlement of flex futures
B.    Pricing harmonisation for OTC IRD Disclosed Clients
C.    Amendments due to the implementation of Client Clearing for OTC FX and OTC XCCY

The amendments will come into effect as of 2 January 2020

2.    Required action

There is no required action for the Participants.

3.    Details of the initiative

A.  Fees for physical settlement of flex futures

Flexible contracts allow changing the delivery type from cash to physical and vice versa for certain Single Stock Futures. With effect from 2 January 2020, originally cash-settled Single Stock Futures assigned to product group AT01, where delivery was changed to physical, will be charged with the same fees for delivery as applied to physically settled Single Stock Futures.

To reflect the changes, the following provisions of the Price List will be amended, as outlined in Attachment 1:

  • Section 3 Number 3.9 

B.  Pricing harmonisation for OTC IRD Disclosed Clients

As of today, for OTC IRD client transactions, the choice of fee models depends on the respective set-up (Disclosed Client with Member-ID or without Member-ID) chosen by the Clearing Member. Through the pricing harmonisation for OTC IRD Disclosed Clients, the selection of all existing client fee models (Standard Model A, Standard Model B, High Turnover Model) will be enabled, regardless of the set-up chosen. The fee model for all Disclosed Clients including FCM clients can be selected via the Company Admission Tool.

To reflect the changes, the following provisions of the Price List will be amended, as outlined in Attachment 2:

  • Section 8 Number 8.4 
  • Section 9 Numbers 9.1, 9.2, 9.3, 9.4 
  • Section 10 Numbers 10.1, 10.2.1.5, 10.2.1.7, 10.2.2, 10.2.2.4, 10.3, 10.3.1, 10.3.5, 10.3.6, 10.4, 10.5.1 

C.  Amendments due to the implementation of Client Clearing for OTC FX and OTC XCCY

Due to the implementation of Client Clearing for OTC FX and OTC XCCY, the Price List will be slightly amended to merely clarify that fees for the clearing of OTC FX and OTC XCCY transactions will be charged to the Clearing Member regardless of whether the cleared transactions are proprietary transactions or client-related transactions.

To reflect the changes, the following provisions of the Price List will be amended, as outlined in Attachment 2:

  • Section 11 Number 11.1

All amendments above will come into effect on 2 January 2020.

As of the effective date, the full version of the amended Price List will be available for download on the Eurex Clearing website www.eurexclearing.com under the following link: 

The changes and amendments to the legal framework of Eurex Clearing AG published by this circular under items A. – C. above are deemed accepted by each affected contractual party of Eurex Clearing AG, unless the respective contractual party objects by written notice to Eurex Clearing AG within the first ten (10) Business Days after publication. Any ordinary right of Eurex Clearing AG to terminate the respective contract (including a Clearing Agreement, if applicable) shall remain unaffected.

Unless the context requires otherwise, terms used and not otherwise defined in this circular shall have the meaning ascribed to them in the Clearing Conditions or FCM Clearing Conditions of Eurex Clearing AG, as applicable.

Attachments: 

  • 1 – Amended sections of the Price List with respect to item A.
  • 2 – Amended sections of the Price List with respect to items B. and C.
Recipients:All Clearing Members, Basic Clearing Members, Disclosed Direct Clients of Eurex Clearing AG, vendors, and all FCM Clearing Members and other affected contractual parties
Target groups:Front Office/Trading, Middle + Backoffice, IT/System Administration, Auditing/Security Coordination
Contact:

client.services@eurexclearing.com

Web: www.eurexclearing.com
Authorized by:Heike Eckert