Eurex Clearing AG 

ECAG Rule Certification 044-23 

June 30, 2023 

1. The text of the proposed amendments to the Clearing Conditions (“Clearing Conditions”) of Eurex 

Clearing AG (“Eurex Clearing”), the Price List to the Agreement on Technical Connection to the Clearing 

EDP of Eurex Clearing AG (“Price List to the Connection Agreement”), and the General Terms and 

Conditions to the Agreement on Technical Connection to the Clearing EDP of Eurex Clearing AG (“GTC 

to the Connection Agreement”) is appended as Attachment A. Any additions are underlined and any 

deletions are struck through. 

2. The date of intended implementation is July 24, 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 proposing the following amendments to the above-mentioned documents: 

1. The proposed amendments provide that Authorized Managers can be set up as “Authorized 

Manager with System Access” if the Clearing Member has transferred Post-Trade Management to 

such Authorized Manager, or as “Basic Authorized Manager” if the Clearing Member has not 

transferred Post-Trade Management to such Authorized Manager. With the introduction of these 

roles, Disclosed Clients and Authorized Managers representing such clients can be more accurately 

distinguished in the systems of Eurex Clearing. 

2. The proposed amendments move the provisions regarding Relevant Fund or Relevant Fund 

Segments as ISA Direct Clearing Member from the General Provisions to the General ISA Direct 

Provisions. 

For avoidance of doubt, these proposed amendments do not apply to Eurex Clearing’s derivatives clearing 

organization (“DCO”) license. 
2

Further information regarding the operation, purpose, and effect of the proposed amendments is discussed 

in Eurex Clearing Circular 044-23, which is appended as Attachment A. 

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

amendments: 

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

comply with DCO Core Principle C because the amendments provide for a new set-up possibility 

outside the scope of Eurex Clearing’s DCO license, and all offerings by Eurex Clearing under its 

DCO license will continue to be subject to appropriate standards in compliance with this Core 

Principle. 
3

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: June 30, 2023