OTC Interest Rate Derivatives: Integration of OTC Standard Coupon Inflation Swap (SCIS) transactions into existing OTC IRD Pricing Models

1. Introduction

Along with the introduction of OTC Standard Coupon Inflation Swap (SCIS) transaction clearing with EurexOTC Clear Release 17.0, the following changes apply with effect from 17 June 2024: 

A.  Amendments to Number 10 of the Price List of Eurex Clearing AG (hereafter: “Price List”) to integrate OTC Standard Coupon Inflation Swap (SCIS) transactions into existing OTC IRD pricing models

B.  Integration of OTC SCIS into existing OTC IRD Pricing Pack subscriptions

2. Required action

There is no required action for the participants.

3. Details

A. Amendments to Number 10 of the Price List

Along with the introduction of OTC Standard Coupon Inflation Swap (SCIS) transactions as new clearing products with EurexOTC Clear Release 17.0, Eurex Clearing amends Number 10 of the Price List to integrate OTC SCIS into the existing OTC IRD pricing models. The amendments to the Price List will become effective on 17 June 2024.

B. Integration of OTC SCIS into OTC IRD Pricing Pack subscriptions

In addition, Eurex Clearing will add OTC SCIS to the Discounted OTC IRD “All-Clear” GOLD Pack 2022, the Discounted OTC IRD “All-Clear” GOLD Pack 2024 as well as to the OTC IRD Basic Pack Special Offer 2024 at no additional costs. Package subscribers to either one of the aforementioned OTC IRD pricing packs may clear OTC SCIS transactions without any additional booking and/or maintenance fees until the official end of the respective subscription as defined in the respective registration form. This change will become effective on 17 June 2024.

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 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:

• Amended sections of the Price List of Eurex Clearing AG

Further information