Follows EUREX Clear Feb. 2024 began C7 securities clearing service 3.7, see #201942.
Overview
Release 4.0 will allow clearing members who clear Eurex Repo Transactions to provide a Clearstream Banking Frankfurt AG (CBF) account for settlement of Special Repo and GC Repo Transactions in bonds with prefixes BE, EU, NL, XS that are T2S eligible.
And new values with be available in C7 SCS Reports showing pair-off request results.
Eurex Repo-related reports Repo Intraday Settled Trade Report (CI87X), Repo Trade Confirmation Report (TC80X) and Repo Contracts Report (TC85X) will be enhanced.
By adding a new optional field, and a new daily report GC Pooling Collateral Allocation Report (CE88X) containing allocated collateral information for open exposure at Clearing Member, Currency, GCP Basket ISIN and Account level will be introduced.
A dedicated page on the release has been added to the EUREX Clear website, all system documentation, circulars, timeline, other details will be made available there.
Required Action
Clients wishing to use the enhancement for Special Repo and GC Repo Transactions executed in T2S eligible bonds with prefixes BE, EU, NL, XS to be settled in T2S/CBF will need to request amendment of their settlement account setup for Eurex Repo.
Re report information enhancement new values in reports CD85X, CE87X in context of pair-off service, customers will have to analyze changes, process the new values.
For Eurex Repo business new optional field with information about fund will result in change of report structure, so Eurex Repo customers must adapt their internal processing to be able to technically digest the updated report structure.
New daily report GC Pooling Collateral Allocation Report (CE88X) will be by default available to all GC Pooling members as clearing member, settlement institution version.
Trading member version optional, needs active subscription request via Clearing Data.
Effectiveness
C7 SCS release 4.0 simulation will start Sep. 30, 2024, production start Nov. 18, 2024.
A communication calendar for the release is included as an attachment to the circular.
