Eurex Clearing AG 

ECAG Rule Certification 080-22 

November 1, 2022 

1. The text of the proposed stated policy is appended as Attachment A. This certification does not propose 

any express amendments to the Clearing Conditions of Eurex Clearing AG (“Eurex Clearing”) or FCM 

Regulations of Eurex Clearing. 

2. The date of intended implementation is March 31, 2023. 

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: https://www.eurex.com/ecen/rules-regs/regulations/cftc-dco-filings. 

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 introducing the following Client Activation Program (the “Program”) to support the 

announcement of the European Commission to promote clearing of EUR-denominated OTC Interest Rate 

Derivatives (“IRD”) transactions in the EU 27. The OTC IRD Client Activation Program 2023 for 

Disclosed Direct Clients, FCM Clients, and ISA Direct Clearing Members enables participating clients to 

qualify for an incentive reward of up to EUR 50,000. Registration for the incentive program is free of 

charge and possible until March 31, 2023. The cornerstones of the Program are: 

· The Program is available to Disclosed Direct Clients, FCM Clients, and ISA Direct Clearing 

Members (collectively, “Disclosed Clients”). For any limitations, please see point 3. b) of Eurex 

Clearing Circular 080-22, which is appended as Attachment A. 

· Registration for the Program is possible until March 31, 2023 using the link provided in 

Attachment A. Each Disclosed Client may only register once for the OTC IRD Client Activation 

Program 2023.

· Participating Disclosed Clients may qualify for a total incentive reward of up to EUR 50,000, 

which will be paid out directly to the client if each of the milestones defined by Eurex Clearing 

are satisfied by December 31, 2023 by the respective Disclosed Client (see details in Attachment 

A). 

· Registration is free of charge. 
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Further information regarding the operation, purpose, and effect of the proposed stated policy is discussed 

in Attachment A. 

Eurex Clearing has identified the following derivatives clearing organization (“DCO”) Core Principle as 

potentially being relevant to the above amendments: 

1. DCO Core Principle C (Participant and Product Eligibility): The proposed stated policy will comply 

with DCO Core Principle C because the policy proposes an incentive program, which will be 

available to Disclosed Direct Clients in compliance with this Core Principle. 
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CERTIFICATIONS PURSUANT TO SECTION 5c 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 thisfiling 

to its website at: https://www.eurex.com/ec-en/rules-regs/regulations/cftc-dco-filings. 

/s/ Eric Seinsheimer 

By: Eric Seinsheimer

Title: US CCO, Eurex Clearing AG 

Dated: November 1, 2022