Clearer Test | Qualified Clearing Staff

Upon successful completion of the Clearer Test, the required qualification for registration as a "Qualified Clearing Staff" (QCS) in accordance with the Clearing Conditions of Eurex Clearing AG is obtained.

A list of further proofs accepted for the registration as a QCS is contained in the Information Memorandum QBO/QCS.

Examination conditions

The test covers 60 questions from the subject areas:

  • Clearing conditions
  • Segregation models
  • Delivery management
  • Risk management
  • Collateral management
  • Default management process

The questions are randomly selected from a pool of 180 questions. The exam lasts 60 minutes. To pass, 75% of the maximum score must be achieved.

The examination fee is 200 Euro (238 Euro incl. VAT).

Test preperation

The question catalogue containing all exam questions is publicly available. This material is sufficient for preparation.

Date and venue

Test dates are agreed individually. Please contact academy@deutsche-boerse.com.

Employees of a Clearing Member may take the test online in their own premises (under the supervision of a designated Compliance Officer).

Registration at Eurex Clearing

Registration as a QCS is independent of registration for the Clearer Test and not via the Capital Markets Academy. The registration process is described in the Information Memorandum QBO / QCS.