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Eurex Clearing
Dear Clearing Member,
According to the TARGET2-Securities (T2S) calendar for 2020, Labour Day is a settlement day in T2S, but remains as holiday in the TARGET2 (T2) calendar. For the trading venues, 1 May 2020 remains as a bank holiday and is thus no settlement day for stock exchange trades. Eurex Clearing will not send instructions for settlement on Labour Day.
On the last T2 business day before a T2 holiday, netting will be done for value date on the next T2 business day. All pending instructions resulting from trades out of the surplus and trades marked as gross will be cancelled after cut-off on the day before the T2 holiday, and instructed for the next T2 business day.
In case of corporate actions on a T2 holiday, Eurex Clearing will process such corporate actions on the next T2 business day. In the event of a non-income corporate action on 1 May 2020, the settlement instructions for affected ISINs will be sent for settlement to the settlement location after processing of the corporate action. Affected transactions will not be subject to contractual penalties of Eurex Clearing.
Please refer to the CBF announcement no D19047 issued on 10 October 2019 for more information on T2S/CBF processing.
Kind regards,
Your Client Services Team
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Eurex Clearing is part of Eurex Group. Find out more here.
| Recipients: | All Clearing Members, Basic Clearing Members, Disclosed Direct Clients of Eurex Clearing AG and vendors |
| Target groups: | Front Office/Trading, Middle + Backoffice, IT/System Administration, Auditing/Security Coordination |
| Web: | www.eurexclearing.com |
| Contact: | client.services@eurexclearing.com |