Jun 20, 2023
Eurex Clearing
Eurex Clearing Readiness Newsflash | C7: Corporate action event in simulation
Dear Client,
Based on client demand, we would like to offer the following corporate action event in simulation on 11 July 2023.
Clearing Participants are invited to test the corporate action harmonization scenario should they wish to do so. The aim of this test is to support preparations for the process changes which are planned to be introduced by Eurex Clearing in the long term. The new process aims to standardize the approach across the industry by eliminating the fractional element of the resulting trading unit following a corporate action event.
On this particular occasion, Clearing Participants will be able to test the trading unit rounding logic as a one off in simulation. After this event, the simulation environment will continue to behave as usual. Please note there are no plans to change the behavior in production this year.
On business day 11 July 2023, the following corporate action capital increase in simulation will take place with an R-factor adjustment and a change on the version number on single stock option of BASF AG. The corporate action itself will also impact the corresponding single stock future BASH. Please note that single stock futures are not impacted by the corporate action harmonization.
As a result of the corporate action harmonization, the resulting trading unit will no longer have fractions and will be rounded to the increment of one share. A premium adjustment (equalization payment) will take place on Ex Date +1 to neutralize the rounding.
Type of product | Name | Product ID | Product ISIN | R-factor | Trading Unit (before harmonization) | Version number (before harmoni-zation) | Trading Unit (after harmoni-zation) | Version number |
Single stock option | Option on BASF AG | BAS | DE000BASF111 | 0.95 | 105,2632 | 0 | 105,0000 | 1 |
Type of product | Name | Product ID | Product ISIN | R-factor | Trading Unit (before harmonization) | Version number (before/after harmonization) | Trading Unit (after harmonization) |
Single stock future | Future on BASF AG | BASH | DE000A0TEST2 | 0.95 | 105,2632 | 0 | 105,2632 |
Trading and Clearing simulation batch days and events are available on the simulation calendar. The simulation calendar can be found on the Eurex Clearing website www.eurex.com/ec-en/ on the following location:
Support > Initiatives & Releases > Simulation calendar
If you have any further questions or comments, please send an e-mail to: client.services@eurex.com.
Kind regards,
Your Client Services Team
Meet the new clearing admission service C7 CAS (Client Administration Service)!
Recipients: | All Clearing Members, ISA Direct Clearing Members, Disclosed Direct Clients of Eurex Clearing AG and vendors | |
Target groups: | Front Office/Trading, Middle + Backoffice, IT/System Administration | |
Contact: | ||
Web: | Support > Initiatives & Releases > Simulation calendar |
