Eurex Clearing
1. Introduction
Effective 10 September 2025, Eurex Clearing AG will offer clearing services for Euro-EU Bond-Futures introduced at Eurex Deutschland.
In this context, the following measures will apply effective 10 September 2025:
Please refer to Eurex Circular 033/25 for detailed trading-related information, including fee classification and the related amendments to the Rules and Regulations of Eurex Deutschland.
Production start: 10 September 2025
2. Required action
EU bonds are issued by the NBB (National Bank of Belgium) which has been appointed by the EU as the Issuer CSD. In this context, a new One-Time Certificate for EIS/EU Debt Securities integrated into the X/N system of the National Bank of Belgium (NBB) has been published. Clients who plan to hold EIS securities should ensure the new document prior to the first settlement is available for your Clearstream account.
3. Details of the initiative
A. Product overview
Please refer to the table below for the overview of the new product.
Product | Product ID | Currency | Product ISIN |
Euro-EU Bond-Futures | FBEU | EUR | DE000A3ETB78 |
B. Contract specifications
For the detailed contract specifications, please refer to Eurex Circular 033/25.
C. Product group
Please refer to the table below for the product group of the new products:
D. Transaction fees
The transaction and maintenance fees for the new products can be retrieved from the updated sections of the Price List, as outlined in the Attachment.
E. Risk parameters
Margins for the new products are calculated in Prisma. For the risk parameters of the new product, please refer to the Eurex Clearing website www.eurex.com/ec-en/ under the following link:
F. Amendments to the legal framework of Eurex Clearing AG
To reflect this decision in the legal framework of Eurex Clearing AG, the following provisions will be amended as outlined in the Attachment:
As of the effective date, the full versions of the amended Price List will be available for download on the Eurex Clearing website under the following link:
Rules & Regs > Eurex Clearing Rules & 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:
Further information
Recipients: | All Clearing Members, ISA Direct Clearing Members, Disclosed Direct Clients, ll FCM Clearing Members of Eurex Clearing AG, vendors and other affected contractual parties | |
Target groups: | Front Office/Trading, Middle + Backoffice, IT/System Administration, Auditing/Security Coordination | |
Related circular: | Eurex Circular 033/25 | |
| Contact: | client.services@eurex.com | |
| Web: | ||
| Authorized by: | Matthias Graulich |
