Common use of Provision of Incentives Clause in Contracts

Provision of Incentives. (1) Liquidity Provider shall receive Incentives pursuant to this Liquidity Provider Agreement and the requirements stipulated in the respective Product Specific Supplements. Incentives may consist of Monetary (e.g., rebates on transaction fees) and/or Non-Monetary Incentives (e.g., increased limits for ESU). (2) Incentives shall be granted in full only if the requirements of the respective Product Specific Supplement have been fulfilled in the month prior to the month in which they are relevant. For the avoidance of doubt, no Incentives shall be granted for contracts traded on A- or P-Accounts. (3) The transaction fees subject for a rebate under this Agreement are charged pursuant to the Price List of Eurex Clearing AG (which form part of the Clearing Conditions of Eurex Clearing AG). Therefore, any rebates granted are only applicable on transaction fees charged by Eurex Clearing towards the relevant contractual party (i.e., Clearing Members). In case the Liquidity Provider is not a Clearing Member and, thus, did not enter into a direct contractual relationship where the Price List of Eurex Clearing AG is applicable (e.g., where the Liquidity Provider is a DC Market Participant), Eurex Clearing shall apply the rebates towards the responsible Clearing Member which collects the transaction fees towards its customers. For the avoidance of doubt, in such a case it is then in the responsibility of the Liquidity Provider to agree with its Clearing Member on the provision of incentives in this relationship. (4) From the Effective Date and until further notice, Eurex Frankfurt and Eurex Clearing shall automatically monitor whether Liquidity Provider fulfils the respective requirements for granting Incentives. For this period, the Product Specific Supplements apply automatically when Liquidity Provider provides liquidity in the respective product. For the avoidance of doubt, Liquidity Provider is not required to select the products where Liquidity Provider intends to provide liquidity.

Provision of Incentives. (1) Liquidity Provider shall receive Incentives pursuant to this Liquidity Provider Agreement and the requirements stipulated in the respective Product Specific Supplements. Incentives may consist of Monetary (e.g., e.g. rebates on transaction fees) and/or Non-Monetary Incentives (e.g., e.g. increased limits for ESU). (2) Incentives shall be granted in full only if the requirements of the respective Product Specific Supplement have been fulfilled in the month prior to the month in which they are relevant. For the avoidance of doubt, no Incentives shall be granted for contracts traded on A- or P-Accounts. (3) The transaction fees subject for a rebate under this Agreement are charged pursuant to the Price List of Eurex Clearing AG (which form part of the Clearing Conditions of Eurex Clearing AG). Therefore, any rebates granted are only applicable on transaction fees charged by Eurex Clearing towards the relevant contractual party (i.e., i.e. Clearing Members). In case the Liquidity Provider is not a Clearing Member and, thus, did not enter into a direct contractual relationship where the Price List of Eurex Clearing AG is applicable (e.g., e.g. where the Liquidity Provider is a DC Market Participant), Eurex Clearing shall apply the rebates towards the responsible Clearing Member which collects the transaction fees towards its customers. For the avoidance of doubt, in such a case it is then in the responsibility of the Liquidity Provider to agree with its Clearing Member on the provision of incentives in this relationship. (4) From the Effective Date and until further notice, Eurex Frankfurt and Eurex Clearing shall automatically monitor whether Liquidity Provider fulfils the respective requirements for granting Incentives. For this period, the Product Specific Supplements apply automatically when Liquidity Provider provides pro- vides liquidity in the respective product. For the avoidance of doubt, Liquidity Provider is not required to select the products where Liquidity Provider intends to provide liquidity.