Eurex Clearing has successfully wound down its clearing member MF Global UK Limited (MF Global). MF Global entered Special Administration Regime on Monday evening, 31 October 2011, as confirmed by the responsible UK regulatory body, the Financial Services Authority (FSA). According to its clearing conditions, Eurex Clearing terminated the clearing agreement with MF Global on 1 November 2011.

The termination triggered the liquidation of corresponding positions at Eurex Clearing by way of market transactions; the exposure was at all times fully covered by collateral placed by MF Global. At no time there was a need to draw on the Clearing Fund.

”The implemented safeguards of Eurex Clearing have again proven to be effective, and underline our high standards in risk management. In this critical situation, Eurex Clearing directly mitigated counterparty risks, thus contributing to the integrity and stability of markets”, says Thomas Book (pictured), member of the Eurex Executive Board, responsible for clearing.

MF Global was licensed as a Clearing Member for the markets Eurex Exchange, Eurex Repo, European Energy Exchange, Xetra and Irish Stock Exchange.