Eurex Clearing
On 18 May 2018, Eurex Clearing AG (Eurex Clearing) will extend the alternative treatment of Variation Margin payments with respect to OTC IRS transactions, which was introduced with Eurex Clearing circulars 102/17 and 120/17, to include OTC currency transactions.
For this purpose, Eurex Clearing will introduce a new contract model for OTC currency transactions (Settled-to-Market, STM), under which, from a legal point of view, Variation Margin payments will be treated as settlement.
The amendments will come into effect on 18 May 2018.
This circular contains the updated sections of the Clearing Conditions of Eurex Clearing AG (Clearing Conditions), as decided by the Executive Board of Eurex Clearing AG.
