Eurex Clearing AG
ECAG Rule Certification 055/18
June 4, 2018

1, The text of the proposed amendments to the Clearing Conditions of Eurex Clearing (“Clearing
Conditions”) is appended as Attachment A. Any additions are underlined and any deletions are struck
through.

2. The date of intended implementation is July 2, 2018.

3. Attached please find a certification that: (1) these amendments comply with the Commodity Exchange
Act (the “Act”), and the Commission’s regulations thereunder; and (2) concurrent with the filing of this
submission, Eurex Clearing is posting a copy of this filing to its website at:
http://www.eurexclearing.com/clearing-en/resources/cftc-dco-filing.

4. A concise explanation and analysis of the operation, purpose, and effect of the amended rule appears
below.

5. There were no opposing views expressed regarding these amended rules.

6. Confidential treatment is not requested.

CONCISE EXPLANATION AND ANALYSIS OF THE OPERATION, PURPOSE, AND EFFECT OF
THE PROPOSED RULE AND ITS COMPLIANCE WITH APPLICABLE PROVISIONS OF THE ACT,
INCLUDING CORE PRINCIPLES AND THE COMMISSION’S REGULATIONS THEREUNDER

Eurex Clearing is proposing the following amendments to the Clearing Conditions:

1. Eurex Clearing is proposing to amend Chapter VIII (Clearing of OTC Interest Rate Derivative
Transactions, OTC FX Transactions and OTC XCCY Transactions) to require the Interest Rate
Derivatives Compression services provider to deliver information on termination fees related to an
Interest Rate Derivatives Compression Run to Eurex Clearing on a trade level per clearing member.
Currently, this information is provided on an aggregated basis per clearing member.

2. Eurex Clearing is proposing editorial amendments to Chapter VIII to change the name of the GBP
SONIA index from GBP-SONIA-WMBA-COMPOUND to GBP-SONIA-COMPOUND due to
this change in the index name.

3. Eurex Clearing is proposing amendments to Chapter VIII with respect to repayment of excess
Prefunding Amounts. Currently, in the event that clearing member OTC Currency Transaction
Payment Obligations decrease below a Prefunding Amount, Eurex Clearing returns the relevant
Prefunding Amount, which could not be applied against the relevant clearing member OTC
Currency Transaction Payment Obligations, to the Prefunding Amount Payer by paying the amount
outside the CLS CCP service via settlement banks. The proposed amendments will provide that
the return will be made, with respect to the relevant currency of the Currency Pairs, by payment


through the CLS CCP service directly to the relevant Currency Products Cash Account of the
Prefunding Amount Payer.

Eurex Clearing is proposing amendments to Chapter I (General Provisions) with respect to the
introduction of Gross Omnibus Segregation Accounts (“GOSA”) and Individual Clearing Model
(“ICM”) for Specified Clients. Eurex Clearing introduced GOSA effective December 4, 2017 and
ICM for Specified Clients effective May 18, 2018. The proposed amendments streamline and
provide editorial changes related to the suspension and porting provisions, the definition of Non-
Clearing Member/Registered Customer and Specified Client Transaction Account Groups, and the
allocation of collateral to transaction accounts.

Further information regarding the operation, purpose, and effect of the proposed amendments is discussed
in the attached Eurex Clearing Circular 055/18, which is appended as Attachment A.

Eurex Clearing has identified the following DCO Core Principle as potentially being relevant to the above
amendments:

DCO Core Principle D (Risk Management): The proposed amendments will comply with DCO
Core Principle D because the amendments amend the payment of termination fees during
compression runs and streamline the payment of prefunding amounts in OTC currency transactions

to the payer, and Eurex Clearing will continue to comply with this Core Principle.


CERTIFICATIONS PURSUANT TO SECTION Sc OF THE COMMODITY EXCHANGE ACT, 7 U.S.C.
§7a-2 AND COMMODITY FUTURES TRADING COMMISSION RULE 40.6, 17 C.F.R. §40.6

I hereby certify that:

(1) the amendments comply with the Commodity Exchange Act, and the Commission’s
regulations thereunder; and

(2) concurrent with the filing of this submission, Eurex Clearing is posting a copy of this
filing to its website at: http://www.eurexclearing.com/clearing-en/resources/cftc-dco-

filing.

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By: Eric Seinsheimer
Title: US Compliance Officer, Eurex Clearing AG

Dated: June 4, 2018