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Eurex Clearing
With this circular, Eurex Clearing announces the reduction of the settlement cycle for:
- Finnish, British and Irish equity options and the corresponding Low Exercise Price Options (LEPOs),
- Futures contracts on Exchange Traded Commodities Securities (ETCs),
- Options contracts and the corresponding Low Exercise Price Options (LEPOs) on Exchange Traded Commodities Securities (ETCs)
from four business days after the exercise day (T+4) to three business days after the exercise day (T+3) effective as of 15 May 2014. Therewith, the reduced settlement cycle of T+3 will be harmonised with the settlement period in the home market.
By means of this circular, Eurex Clearing publishes the relevant amendments to the Clearing Conditions for Eurex Clearing AG, with regard to the reduction of the settlement cycle for the above-mentioned products from T+4 to T+3, decided by the Executive Board of Eurex Clearing AG, which will become effective on 15 May 2014.
Please refer to Eurex circular 073/14 for the updated sections of the Contract Specifications for Futures Contracts and Options Contracts at Eurex Deutschland and Eurex Zürich.
Furthermore, Eurex Clearing is planning to migrate to T+2 settlement for derivatives contracts that include a physical delivery of the shares in view of the forthcoming Central Securities Depository Regulation (CSDR) on 6 October 2014, since the majority of trading venues in the European Union will migrate to T+2 settlement on this day.