01 Apr 2020
Eurex Clearing
Eurex Clearing Readiness Newsflash | CCP: Reporting of cleared Securities Financing Transactions (SFTs) by Eurex Clearing according to the Securities Financing Transactions Regulation (SFTR) Article 4: Update of UTI and Clearing Timestamp for pending Repo and Securities Lending transactions
Dear Clearing Member,
In April 2020, the obligation to report securities financing transactions according to Article 4 of the Securities Financing Transactions Regulation (SFTR) will come into effect.
Since both counterparties of a cleared SFT (CCP and Clearing Member) must report and since data fields have to be identical (such as Unique Transaction Identifier, Counterparty data, Loan and Collateral data, Margin and re-use data), it is important that the CCP and its Clearing Members use the same methods to create the data fields.
For all pending SFT transactions with trade date before 18 November 2019, for Repo and for Securities Lending transactions, Eurex Clearing has decided to update the UTI & Clearing Timestamp fields according to the rules foreseen for SFT transactions.
Therefore, in preparation for SFTR backloading, all open transactions with no UTI and Clearing Timestamp information will be updated in Eurex Clearings’ End of Day processing on 6 April 2020.
The transaction will be reported in the CCP report TC750 Repo Contracts and CL260 Loan Obligations for Securities Lending transactions.
If you have any questions or require further information, please contact the Eurex Clearing CCP Helpdesk under: sftr@eurexclearing.com.
Kind regards,
Your Client Services Team
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Recipients: | All Clearing Members, Basic Clearing Members, Disclosed Direct Clients of Eurex Clearing AG and vendors |
Web: | www.eurexclearing.com |
Contact: | Eurex Clearing CCP Helpdesk, sftr@eurexclearing.com |
