Eurex Clearing
On December 8, 2009, the first contract of the Euro-BTP Future with physical delivery on December 10, 2009, which had been listed for trading on Eurex on September 14, 2009, will mature.
By means of this circular, Eurex Clearing informs you that a particular setting for CCP settlement netting is required for these Italian government bonds.
Please be reminded that, as an extraordinary rule, the revenues of the final economic beneficiary will be subject to withholding tax in the country of origin. Therefore, the settlement account in CCP is set up for the Settlement Netting Unit on Non-Clearing Member level. Other settings for different settlement netting levels are not admissible for Euro-BTP deliveries.
All Clearing Members, who use physical delivery of the Euro-BTP Future, are obliged to ensure their delivery and payment capability through sufficient holdings and credit for Euro-BTP Futures contracts pursuant to the Clearing Condtions for Eurex Clearing AG.
Please forward this circular to all involved departments in your company.
