Post-Trade - Clearing and Settlement

Our post-trade partners

We have partnered with leading post-trade providers to provide for the clearing and settlement of trades executed on our markets. Eurex Clearing AG is the CCP for the ISE which enhances market efficiency. Our clearing members benefit from Eurex's clearing technologies and innovative risk management tools.

CREST, operated by Euroclear UK & Ireland, is the settlement system for Irish equities. It is one of the world’s largest and most technically advanced settlement systems.

Become a clearing or settlement member

Trading members can opt to clear and/or settle their own trades. Alternatively, they can appoint an ISE clearing or settlement member to carry out one or both of these activities on their behalf.

Call us to discuss your requirements.

Current member list

Clearing members

ABN Amro Clearing Bank N.V.	Kas Bank N.V.
BNP Paribas Securities Services S.A.	Nomura International plc
Citibank Europe plc	Pershing Securities Limited
Credit Suisse Securities (Europe) Limited	Societe Generale S.A.
Deutsche Bank AG	UBS AG

Settlement members

Pershing Securities International Limited

Rules

Chapter 8 of the Rules outlines the requirements on clearing and settlement members, with certain other sections also applying (as described in section 2.2).

Additionally, clearing members are subject to the Clearing Conditions for Eurex Clearing AG.

Member Firm Rules - Release 20 effective 17th July 2017 (1,397 KB)

Clearing Conditions

Buy-in

To support timely settlement, we have a buy-in process operated by Eurex Clearing AG. If settlement is not completed by the Intended Settlement Date (ISD) the buy-in process will commence and operate as follows:

If settlement is still outstanding, a buy-in auction will take place on ISD+4
If this auction is unsuccessful and settlement is still outstanding on ISD+8, a cash settlement will be performed

Members interested in becoming buy-in participants should contact us to discuss their options.

Relevant Documentation

Buy-in Guide (62 KB)

This guide details the buy-in process.

Supplementary Information to the Buy-in Guide (83 KB)

Additional information on the calculation of the buy-in and cash settlement prices.

Optional clearing services for trading members

We offer the following optional clearing services. These allow trading members to enhance the resilience of their emergency arrangements.

Individual Clearing Model - ensures that positions and collateral are segregated for each NCM from the CM's proprietary positions
Dual General Clearing Member - enables an NCM to set-up a second and alternative GCM relationship for clearing ISE CCP trades

Please contact us if you are considering availing of one of these options.

OTHER MEMBERSHIP