MSCI Emerging Markets Index Total Return Futures: Amendment of the Clearing Conditions

1.   Introduction   

Effective 11 March 2024, Eurex Clearing AG (Eurex Clearing) will offer clearing services for Index Total Return Futures on MSCI World, EAFE and EM indices denominated in US dollar (USD).

In this context, the following measures will apply effective 11 March 2024:

• Amendments to the Clearing Conditions of Eurex Clearing AG (Clearing Conditions) regarding the introduction of Total Return Futures on MSCI Emerging Markets index denominated in USD.

Please refer to the table below for the overview of the amendments regarding the determination of the Daily Settlement Price for the Index Total Return Futures Contracts on MSCI Indices.

Production start: 11 March 2024

2.   Required action

There is no action required for participation.

3.   Details

A. Overview of amendments

Please refer to the table below for the overview of the amendments regarding the determination of the Daily Settlement Price for the Index Total Return Futures Contracts on MSCI Indices:

B. Amendments to the legal framework of Eurex Clearing

To reflect this decision in the legal framework of Eurex Clearing, the following provisions will be amended as outlined in the Attachment:

• Chapter II Part 2 Number 2.22.2 of the Clearing Conditions

As of the effective date, the full version of the amended Clearing Conditions will be available for download on the Eurex Clearing website www.eurex.com/ec-en/ under the following link:

Rules & Regs > Eurex Clearing Rules and Regulations > 1. Clearing Conditions

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 Clearing Conditions of Eurex Clearing AG

Further information