Changes to the Price List of Eurex Clearing AG: Adjustments to Repo Transaction Fees for GC Pooling Select Invest Repo Transactions

1. Introduction

This circular contains information with respect to the service offering of Eurex Clearing AG (Eurex Clearing) and introduces amendments to the Price List of Eurex Clearing AG (Price List) regarding the following topic:

• Adjustments to the Repo Transaction Fees for GC Pooling Select Invest Repo Transactions

The planned effective date of the amendments to the Price List is 1 October 2024.

2. Required action

There is no action required.

3. Details

The pricing for the Repo Transaction Fees for GC Pooling Select Invest Repo Transactions will return to asymmetrical pricing as it was before 2023 to implement a “no-fee” market practice known for the Buy-Side to increase the attractivity of the ISA Direct Light Clearing Model.

This pricing shall be applied for all Select Invest Participants (both, current and future participants).

The amendments relate of the following two components: 

• ISA Direct Light License Holders will no longer be charged a Repo Transaction Fee for GC Pooling Select Invest Repo Transactions.

• With respect to the relevant Clearing Member entering into the related CCP Transaction, the Repo Transaction Fee will be increased to 1.5 Basis Points with a minimum fee per of 25 EUR/28 USD/28 CHF/23 GBP per Transaction.

The changes will enter into force on 1 October 2024.

In this context, the following provisions will be amended as outlined in the Attachment to this Circular:

• Number 5 of the Price List of Eurex Clearing AG

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