Default of a (FCM) Clearing Member/Clearing Agent

Porting under EMIR

Mandatory prerequisites

Mandatory porting requirements, infrastructure setting and required forms

The porting of transactions and collateral to a Replacement Clearing Member is operationally close to the process of a regular Clearer Change. In addition to the fulfilment of the Porting Requirements, the Replacement Clearing Member must provide certain forms/documents to ensure the set-up and migration of the clients into its Eurex Clearing environment. 

The Replacement Clearing Member as well as the Disclosed Direct Clients should check the compatibility of each other's infrastructure and set-up in the Eurex Clearing system.

The following list provides an overview of further requirements to migrate transactions and collateral that need to be taken into consideration by the Replacement Clearing Members (and Disclosed Direct Clients):

  • Clearing License(s) incl. cleared products and/or currencies
  • Cash infrastructure
  • Pledged securities account
  • Settlement netting parameters (cash markets)
  • Provision of technical infrastructure to Disclosed Direct Clients