A member of
Eurex Clearing
C7, Eurex Clearing’s new clearing architecture, will replace the existing Eurex Clearing classic system in a stepwise approach. As announced in Eurex Clearing circular 065/13, Eurex Clearing has revised the scope and timeline for the introduction of Eurex Clearing’s C7. This circular provides relevant information on the adjusted scope and implementation timeline for the initial release of Eurex Clearing’s C7.
The initial release of C7 will feature the following optional functionality for Clearing Members (CMs) and Non-Clearing Members (NCMs) for derivatives listed at Eurex Exchange:
· Technical optimization of the segregation of transactions, positions, margin requirements, collateral and cash flows for premium/variation margin. For instance, it will be simplified for a CM or NCM to segregate customers or individual funds in an own customizable structure.
· Within C7, average pricing will allow merging of multiple transactions into one transaction with an average price calculated by Eurex Clearing, thereby increasing operational efficiency.
The initial release of C7 will be launched in simulation in April 2014 and in production inJune 2014. To pave the way for C7, Eurex Clearing will decommission VALUES API and the MISS infrastructure on 10 December 2013, as announced in Eurex Clearing circular 065/13.