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Eurex-cellent?

Eurex Clearing has announced an extension of its client clearing documentation to facilitate on-boarding under EMIR. Market standard Annexes have been added to both the FOA Client Clearing Module[1] (the “Module”) and the ISDA/FOA Client Clearing Addendum (the “Addendum”), enabling a standardisation of client clearing documentation of OTC derivatives.

The publication of the Eurex Clearing Annex terms means that the CCP is the first to offer customers EMIR compliant segregation models with the flexibility to choose between the Module and the Addendum. The Addendum allows for OTC clearing with an underlying ISDA Master Agreement or Professional Client Agreement, while the Module only allows for the latter.

[1] FOA (Futures and Options Association) now known as FIA Europe.

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