UNITED STATES OF AMERICA 

Before The 

COMMODITY FUTURES TRADING COMMISSION 

Treatment of Funds Held in Connection with 

the Clearing by The Clearing Corporation of 

Euro-Denominated Contracts Executed on 

Eurex Deutschland, AG 

SUPPLEMENTAL ORDER 

The Clearing Corporation ("CCorp") has submitted a request for the Commission to 

supplement its Order dated October 21, 2004 ("2004 Order") regarding the treatment of funds 

held in connection with the clearing by CCorp of contracts executed on Eurex Deutschland, AG. 

("Eurex"). 

The 2004 Order allows CCorp, CCorp's clearing members, and futures commission 

merchants who clear through a CCorp clearing member ("Participants") participating in Phase I 

of the Global Clearing Link1 (the "Euro Link") to commingle money, securities, and other 

property ("customer funds") used to margin, secure, or guarantee certain foreign futures and 

options contracts ("Eurex Products") executed on Eurex with customer funds used to secure 

transactions in commodity futures or commodity option contracts executed on designated 

contract markets or derivative transaction execution facilities.2 Thus, customer funds supporting 

Euro Link transactions are allowed to be held in segregated customer fund accounts maintained 

in accordance with Section 4d of the Commodity Exchange Act ("Act") and Commission 

Regulation 1.20, rather than in secured amount accounts maintained pursuant to Commission 

Regulation 30.7. 

By letter dated March 14, 2007, supplemented by letter dated July 26, 2007, CCorp 

submitted a request ("Request") for the Commission to amend the 2004 Order to add Eurex's 

MDAX® stock-index futures contract ("MDAX futures"), Eurex's DJS 600 stock-index futures 

contract, and Eurex's DJSM 200 stock-index futures contract to the group ofEurex Products. 

Commission staff issued a no-action letter dated March 14, 2006 permitting MDAX futures to be 

offered and sold by electronic means in the U.S to U.S. persons

3 and issued a no-action letter 

1 As discussed in the 2004 Order, the Global Clearing Link is between CCorp and Eurex Clearing, AG. 2 The Eurex Products are the following: Dow Jones Global Titans 50 Future, Dow Jones STOXX 50 Future, Dow 

Jones EURO STOXX 50 Future, Dow Jones STOXX 600-Banks-Future, Dow Jones Euro STOXX-Banks-Future, 

DAX Future, One-Month EONIA Future, Three-Month EURIBOR Future, Options on Three-Month EURIBOR 

Future, Euro SCHATZ Future, Options on Euro SCHATZ Future, Euro BOBL Future, Options on Euro BOBL 

Future, Euro Bund Future, Options on Euro Bund Future, and Euro BUXL Future. All of these are permitted to be 

offered by Eurex by electronic means in the U.S. for trading by U.S. persons pursuant to Commission staff no action 

letters. 

3 Letter No. 06-06 (March 14, 2006). 
dated July 18, 2007 permitting the DJS 600 and DJSM 200 futures to be offered and sold by 

electronic means in the U.S. to U.S. persons.

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CCorp certifies that it is in compliance with all terms and conditions of the 2004 Order, 

and that with respect to Participants in the Euro Link, the MDAX®, DJS 600, and DJSM 200 

futures contracts will be cleared in accordance with the terms of the 2004 Order. 

The Commission has reviewed the request and the record in this matter and has 

determined to issue this Supplemental Order. Therefore, 

IT IS ORDERED, pursuant to Section 4d(a)(2) of the Act, that Eurex's MDAX®, DJS 

600, and DJSM 200 stock-index futures contracts be included in the group ofEurex Products 

covered by the 2004 Order. 

IT IS FURTHER ORDERED, that: 

1. CCorp shall at all times fulfill all representations made in its Request; 

2. CCorp shall at all times continue to fulfill all representations made in its original 

application requesting that the 2004 Order be granted, including all attachments and 

supporting materials, whenever submitted; and 

3. CCorp shall do all things necessary and appropriate to remain in compliance with the Core 

Principles set forth in Section 5b of the Act, including continuing fulfillment of all terms 

and conditions set forth in the 2004 Order. 

This Order is issued pursuant to Section 4d of the Act based upon the representations made to the 

Commission by CCorp in its Request. Any material changes or omissions in the facts and 

circumstances pursuant to which this Order is granted might require the Commission to 

reconsider its finding that the provisions set forth herein are appropriate. Further, in its 

discretion, the Commission may condition, modify, suspend, terminate, or otherwise restrict the 

provisions of this Order, as appropriate, on its own motion. 

Issued in Washington, D.C. on October 25 

bd({.c;:-~ David A. Stawick 

'2007 

Secretary of the Commission 

4 Letter No. 07-11 (July 18, 2007). 

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