EUREX Clear EurexOTC Release 18.0


On Jul. 12, EUREX Clear announced EurexOTC Clear 18.0 launch date.


  • EUREX Clear issued circular announcing introduction of EurexOTC Clear release 18.0.
  • Follows EUREX Clear Feb. 2024 announced EurexOTC release 17.0, see #200237.
  • Details of Changes
  • Changes include Enhancement of Inflation Linked Asset Swaps, Clearing of all Linked Trades submitted via MarkitWire, as well as the new Introduction of MtM Adjustment.
  • Also, Enhancement of Variation Margin Calculation for trades referencing GBP-SONIA-OIS Compound and EUR-EuroSTR-OIS Compound indices and having intraday coupon settlement, various Report Changes, as well as GUI Changes and various API Changes.
  • EUREX Clear has described these changes in the Functional Release Notes of EurexOTC Clear Release 18.0 that is accessed via Member Section Resources > Eurex Clearing > Documentation & Files > EurexOTC Clear > System documentation > Overview.
  • Required Action
  • The new release will have an impact on the internal processes of all clearing members, on FCM clearing members, and all of their clients who clear EurexOTC Clear products.
  • May be necessary for them to update their internal processes and technical interfaces.
  • Users should contact third-party providers as soon as possible to ensure adjustments made, to check if release contacts for EurexOTC Clear are registered and/or updated.
  • All members should be subscribed to EurexOTC Clear for circulars and newsflashes.
  • Important Note
  • To increase the transparency of all software usage on the system, EUREX Clear will implement a new process for registering all the Independent Software Vendors (ISVs).
  • Additionally, EUREX Clear will introduce a new process for registering all the relevant third-party software offered by ISVs and the in-house software developed by clearing members, all of which is specifically used to connect to FIXML and FpML interfaces.
  • Finally, the current FIXML and FpML account creation process via the Member Section will be enhanced with the addition of software usage details, to add to transparency.
  • Clearing members must provide software data on creating account in Member Section.
  • Effectiveness
  • Circular announced production launch of EurexOTC Clear Release 18.0, Nov. 18, 2024, with the linked simulation preparation for release 18.0 beginning from Oct. 16, 2024.
  • Structured clean-up of trades in simulation environment will take place Aug. 30, 2024.
  • All trades of the captured before Jun. 17, 2024 will no longer be available in simulation environment, participants wishing to keep these trades must confirm by Aug. 9, 2024.
  • Oct. 2024 Additional Documentation
  • On Oct. 7, 2024, EUREX Clear announced publication of additional documentation in reference to EurexOTC Clear Release 18.0, which include FpML interface documents.
  • FpML interface sample messages & XSDs; EurexOTC Clear report manual; EurexOTC clear reports-samples & XSDs; EurexOTC Clear GUI user guide; Prisma margin calculator user guide; Prisma margin calculator trade templates & field description.
  • EurexOTC Clear risk methodology description; EurexOTC Clear Product List; Eurex
  • OTC Error Code List; EurexOTC Clear Simulation Guide; informed that an updated version of EurexOTC Clear Procedures Manual will be published on Nov. 1, 2024.
  • EurexOTC Clear Release 18.0 will be launched in production on Nov. 18, 2024.
  • Simulation will start on Oct. 16, 2024, as announced in EUREX Clear circular 047/24.
  • Oct. 22, 2024 Readiness Statement
  • On Oct. 22, 2024, EUREX Clear announced that the submission of the readiness statement is required prior to the launch of EurexOTC Clear Release 18.0.
  • Clearing members are requested to submit the readiness statement by Nov. 8, 2024.
  • Also reminded that the EurexOTC Clear Release 18.0 production date is Nov. 18, 2024.
  • The simulation environment has been available for testing since Oct. 16, 2024.
  • Oct. 23, 2024 Circular 076/24
  • On Oct. 23, 2024, EUREX Clear issued circular 076/2024 EurexOTC Clear Release 18.0: Amendments to the Clearing Conditions and FCM Regulations of Eurex Clearing AG.
  • Changes to the Clearing Conditions and the FCM Regs will apply as of Nov. 18, 2024.
  • Extension of product offering for Standard Coupon Inflation Swaps by supporting the French Inflation Consumer Price Index excluding Tobacco and UK Retail Price Index.
  • EUREX Clear will also offer the clearing of linked trades submitted via MarkitWire.
  • Clearing Members and clients can link multiple trades together using MarkitWire's Package Trade function and submit linked trades for clearing on a trade-by-trade basis.
  • Transfer functions, i.e. trade, account, portfolio will be enhanced by an optional MTM Adjustment; upon request, a MTM Adjustment amount will be attached to the transfer.
  • It compensates previous day’s trade value, allows the transfer without NPV prefunding.
  • Minor amendments by removing references to the decommissioned USD LIBOR index.
  • And updates to the rate used for PAI determination of DKK Interest Rate Derivatives.
  • Amended Chapter VIII of the Clearing Conditions of Eurex Clearing AG is in Annex 1.
  • Amended sections of Chapter II of FCM Regs of Eurex Clearing AG are in Annex 2.

Regulators EUREX Clear
Entity Types B/D; Depo; Exch; OTC
Reference Cir 076/2024, PR, 10/23/2024; PR, 10/22/2024; PR, 10/7/2024; Cir 047/2024, 7/12/2024
Functions Compliance; Legal; Operations; Registration/Licensing; Reporting; Risk; Settlement; Technology; Trading; Treasury
Countries EU Exchange
Category
State
Products Clearing; Derivatives; Equity; Fixed Income; Forex; Futures; Securities
Regions EMEA
Rule Type Final
Rule Date 7/12/2024
Effective Date 11/8/2024
Rule Id 219356
Linked to Rule :200237
Reg. Last Update 10/23/2024
Report Section EU

Last substantive update on 10/28/2024