Eurex Clearing
1. Introduction
This circular introduces amendments to the Price List of Eurex Clearing AG (Price List) regarding the following topics:
A. Migration of physical delivery transactions settling at Euroclear UK & International to the C7 Securities Clearing Service
B. Decommissioning of the Securities CCP service
The amendments will become effective as of 27 November 2023.
2. Required action
There is no action required.
3. Details
A. Migration of physical delivery transactions settling at Euroclear UK & International
As announced in Eurex Clearing Circular 025/23, Eurex Clearing AG will migrate the processing of Eurex physical deliveries in UK and Irish securities settling at Euroclear UK & International (EUI) from the Securities CCP service to the C7 Securities Clearing Service (C7 SCS) as part of C7 SCS Release 3.0. For more details, please refer to the Release Notes for C7 SCS Release 3.0 published under the following link:
Support > Initiatives & Releases > C7 SCS Releases > C7 SCS Release 3.0
In the context of this migration, the fee regime for Eurex physical deliveries which settle at EUI will be harmonized with the fees applied for other Eurex physical deliveries:
The following provisions of the Price List will be amended as outlined in the Attachment:
B. Decommissioning of the Securities CCP service
As announced in Eurex Clearing Circular 025/23, Eurex Clearing will decommission the Securities CCP service after migration of the processing of transactions settling at EUI to C7 SCS. For details, please refer to the Release Notes for C7 SCS Release 3.0. Consequently, all provisions on fees related to the Securities CCP service will be removed from the Price List.
The following provisions of the Price List will be amended as outlined in the Attachment:
Publication of amendments to the Price List
As of the effective date, the full version of the amended Price List will be available for download on the Eurex Clearing website www.eurex.com/ec-en/ under the following link:
Rules & Regs > Rules and Regulations > 3. Price List
The amendments to the legal framework of Eurex Clearing AG published by this circular 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 prior to the relevant effective date(s) as stipulated in this circular. In case of an objection by the respective contractual party pursuant the preceding sentence, Eurex Clearing AG is entitled to terminate the respective contract (including a Clearing Agreement, if applicable). Instead of submitting an objection, the respective contractual party may submit in writing to Eurex Clearing AG comments to any amendments of the legal framework of Eurex Clearing AG within the first 10 Business Days after the publication of the amendments. Eurex Clearing AG shall assess whether these comments prevent the published amendments from becoming effective taking into account the interests of Eurex Clearing AG and all contractual parties.
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.
Attachment:
Further information
Recipients: | All Clearing Members, ISA Direct Clearing Members, Disclosed Direct Clients of Eurex Clearing AG, vendors and other affected contractual parties | |
Target groups: | Front Office/Trading, Middle + Back Office, IT/System Administration, Auditing/Security Coordination | |
Related circular: | Eurex Clearing Circular 025/23 | |
Contact: | client.services@eurex.com | |
Web: | Support > Initiatives & Releases > C7 SCS Releases > C7 SCS Release 3.0 | |
Authorized by: | Jens Janka |
