Exchange membership

Admission requirements

The main requirements for an exchange participant status are the following:

  • Conduct of derivatives trading in a commercial manner
  • Evidence that the respective applicant is subject to proper banking or exchange regulation in its country of origin
  • Minimum equity capital of EUR 50,000, unless the applicant is a bank or is MiFID II regulated
  • Admission and registration of at least one exchange trader
  • Registration of at least one qualified back office staff member (see QBO/QCS Information Memorandum)
  • Participation in the clearing process - either indirectly via a General Clearing Member (GCM) or a Direct Clearing Member (DCM) or directly as GCM or DCM. A DCM may act as clearer for an exchange participant provided the companies are 100 percent affiliated.
  • Compliance with mandatory technical requirements for connection to the Eurex® system (connection alternatives)

Each exchange participant may execute their own and their customers' orders and is responsible for exercises and position management functions online. Each exchange participant is able to maintain a system-side overview of the payment and delivery obligations that result from their trading activities.

Exchange participants may enter into agreements with different Clearing Members on a per market basis (e.g. Eurex Exchange, Eurex Repo etc.). Additionally, for Eurex Exchange, an exchange participant can set up relationships with a maximum of five different Clearing Members. This offering is referred to as multiple clearing relationships (MCR) and enables exchange participants to clear different MCR-product groups with different Clearing Members. Exchange participants continue to have the flexibility to use the "give-up/take-up" functionality to transfer trades within one specific platform to another participant.

Since DC Market Participants have no direct contractual relationship with Eurex Clearing AG, transactions are essentially concluded between Eurex Clearing AG and a given Clearing Member, and in turn between that Clearing Member and the specific exchange participant. Also, margin deposits and fee payments, for example, are made to the clearing house via the contractually stipulated Clearing Member.

Market Status

XEUR

The market status window is an indication regarding the current technical availability of the trading system. It indicates whether news board messages regarding current technical issues of the trading system have been published or will be published shortly.

Please find further information about incident handling in the Emergency Playbook published on the Eurex webpage under Support --> Emergencies and safeguards. Detailed information about incident communication, market re-opening procedures and best practices for order and trade reconciliation can be found in the chapters 4.2, 4.3 and 4.5, respectively. Concrete information for the respective incident will be published during the incident via newsboard message. 

We strongly recommend not to take any decisions based on the indications in the market status window but to always check the production news board for comprehensive information on an incident.

An instant update of the Market Status requires an enabled up-to date Java™ version within the browser.