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Centrally Cleared Derivatives
Figure 5: Eurex Clearing OTC Volume (millions)
Source: Eurex Clearing

Partial close-out. maturity for the most distant futures listed on Eurex.

Partial exercise.

Settlement – In most cases, the ability to negotiate the

Trade separation (possibility to split a transaction into terms of settlement for Single Stock Futures via either cash
several sub-accounts). settlement or physical delivery.

Configurable parameters for automatic exercise.
The OTC Flexible Futures functionality enables the
An institutional investor, concerned about the counterparty customisation of more than 600 Eurex equity and index
risk about his existing open OTC ‘look-a-like’ derivative futures contracts.
positions can transfer the positions (‘legacy trades’) from their
counterparty to Eurex Clearing. The institutional investor Driving Risk Management to the Next Level
would need to agree with their counterparty to transfer the On November 10
th
2008 Eurex Clearing launched its new
existing open OTC positions and re-open the positions through software release, Eurex Release 11.0, raising new standards in
the Eurex OTC Flexible Options platform. exchange risk management. Eurex Clearing continues to set
Likewise, the Eurex Flexible Futures facility allows asset benchmarks for risk management in the derivatives industry.
managers to customise Eurex futures contracts in terms of: A major focus of the lastest release was to further enhance

Maturity – Participants of an OTC Flexible Future can risk monitoring and thus improve the safety and integrity of
create their own maturity date for the transaction: Dates the financial markets overall.
can be as early as the next business day or as far out as the
42 worldPower 2009
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