As an EMIR-compliant CCP, Eurex Clearing conducts at least one simulation of its Default Management Process ("Fire Drill") per year. For each Default Management Process simulation, Eurex Clearing nominates and informs Clearing Members for whom participation in an upcoming simulation is mandatory as stipulated in Chapter 1, Part 1 Number 7.5.5 of the Clearing Conditions of Eurex Clearing. Mandatory participation ensures that Clearing Members regularly demonstrate operational readiness to participate in a Default Management Process.
In addition, any Clearing Member can voluntarily participate in a simulation for the Liquidation Groups such Clearing Member is active in. Eurex Clearing strongly encourages all Clearing Members to participate in as many Default Management Process simulations as possible. In particular, participation in a simulated auction, offers a good opportunity for the Clearing Members to validate the access the auction tool, whether the formats in which auction files are provided are compatible with the Clearing Members' internal systems and whether the applicable auction format is understood.
Eurex Clearing also invites all disclosed clients to participate in the simulation on a voluntary basis.
Detailed information on the planned Fire Drills is provided via Eurex Clearing circulars. Please find here an overview of the most recent Fire Drill related circulars:
To receive Fire Drill related updates, please subscribe to the Eurex Clearing circulars and newsflashes here.
Please select the following categories:
Circulars & Readiness Newsflashes – (Affected Market) Clearing
