Trading Conditions

1 Part: General Provisions

1.4 Subpart: Position Accounts of Exchange Participants
1.4.5 Account Management
(1) ...

(6) Position transfers between different Exchange Participants from or onto M-position accounts are not permitted.

Position transfers without cash transfer or position transfers with cash transfer between different Exchange Participants (member position transfer) may only be made by an Exchange Participant upon confirmation of the entry of the transfer as binding by all Exchange Participants and Clearing Members involved. Position transfers from or onto an Agent Position Account may only be made at the request of the customer concerned.

The functionality "position transfer with cash transfer" may only be selected if - by way of a reference which must be entered into the Eurex-System - the amount to be transferred is clearly attributable to one or more trades entered on a position account of the Exchange Participant.

The EDP system of the Eurex Exchanges will transfer the relevant positions after the Post-Trading Full Period. Generally, any payments or credit entries to be made in relation to the functionality "position transfer with cash transfer" shall be effected on the Exchange day following the Exchange day on which the functionality was used. However, with regard to this particular functionality, the respective amount is transferred to the Exchange Participant entitled to receive payment no sooner than the Exchange Participant liable to pay such amount has actually made payment. In respect of such cash transfer, the Eurex Exchanges have no performance obligation vis-à-vis the Exchange Participant entitled to receive payment.

(7) ...