On Jun. 20, 2025, CFTC confirmed self-certification receipt, and 10 Day Review start regarding the proposed rule amendments as set out in EUREX Clear Circular 054-25.
On Jun. 18, EUREX Clear announced clearing condition amendments.
EUREX Clear issued circular notifying of amendments to clearing conditions related to ISA direct light license holder and amendments to GC pooling pledge back agreement.
Concerns introduction of third-party account holder for ISA direct light license holder.
To reflect amendments in the Clearing Conditions and other related documents, provisions and related documents are amended as outlined in Attachments 1 and 2.
Summary
EUREX Clear will support the provision of a third-party account holder for ISA direct light license holder meaning ISA direct light license holder can comply with obligation to provide settlement and cash accounts by using a Settlement Institute.
Aims to simplify on-boarding process for ISA direct light license holder, offer flexibility.
Note that the amendment of the GC Pooling Pledge Back Agreement template does not have any impact on existing GC Pooling Pledge Back Agreements.
The amendments to legal framework of EUREX Clear published by circular are deemed accepted by each affected contractual party unless contractual party objects by written notice to EUREX Clear prior to the effective date (ie Jul. 14, 2025).
In case of an objection by the respective contractual party EUREX Clear 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 Clear comments to any amendments of the legal framework of EUREX Clear within the first 10 Business Days after publication of the amendments.
Effectiveness
The amendments will become effective as of Jul. 14, 2025.
Jun. 20, 2025 CFTC Receipt
On Jun. 20, 2025, CFTC confirmed self-certification receipt, and 10 Day Review start regarding the proposed rule amendments as set out in EUREX Clear Circular 054-25.
