FCM Clearing Member Replacement Requirements, infrastructure setting and required forms
The porting of FCM Client Transactions and Eligible Margin Assets to a Replacement FCM Clearing Member does - from an operational perspective - not only require the fulfilment of the FCM Clearing Member Replacement Requirements, in addition a potential Replacement FCM Clearing Member must also provide certain forms and documents prior to the end of the Replacement Cut-Off Time to ensure the set-up and migration of the FCM Clients into its Eurex Clearing AG environment:
| Required activities | Related document template | |
(1) | Replacement FCM Clearing Member has entered into a Replacement FCM Clearing Member Transfer Agreement | |
(2) | Replacement FCM Clearing Member has represented to Eurex Clearing AG that it meets the minimum funding requirements of CFTC Regulation 1.17 (a) (4) | |
(3) | Pay or commit to pay the outstanding Margin and/ or Variation Margin for the transactions of the transferred porting units | |
(4) | If the Affected FCM Clearing Member is the subject of an Insolvency Termination Event: the CFTC or Bankruptcy Trustee (or comparable party administering the proceeding) has consented (or not disapproved) the Transfer | |
| Additional requirements | ||
(5) | Account set-up information | Please log-in to the Company Admission Tool in our Member Section |
