A member of
Eurex Clearing
Dear Clearing Member,
TARGET2-Securities (T2S) has announced that its new software to be introduced with Release 4.0 will be implemented on 13 June 2020.
As Eurex Clearing acts as T2S Indirectly Connected Participant (ICP) and uses Clearstream Banking Frankfurt (CBF) as Settlement Agent towards T2S, Eurex Clearing will not be directly affected by the T2S software deployment. In the context of T2S Release 4.0, Eurex Clearing will keep its processing towards the customers stable over the T2S deployment weekend from 12 June-15 June 2020.
The T2S software deployment starts on the evening of Friday, 12 June 2020, therefore T2S Night Time Settlement (NTS) will not take place on that Friday and no settlement results will be provided at this time.
Therefore, CCP reports generated on Friday evening and Saturday morning, 13 June 2020, (CORPT runs) will not contain settlement information on the delivery instructions provided for T2S settlement.
The T2S settlement results will be provided in the next regular CCP settlement reports, i.e. CE270/1/2 from Reporting Run 1 (First Run of Day) which will be generated on Monday, 15 June 2020 at 05:30 CEST.
Please refer to CBF announcement no. D20007 “T2S Release 4.0 – Information on production launch” and D20017 "T2S Release 4.0 – Deployment activities" published on 24 April 2020 for more information on T2S/CBF processing during the T2S Release 4.0 deployment weekend.
After T2S provided the final migration playbook at the end of May 2020, CBF will update the indicative timeline for the deployment weekend of T2S Release 4.0, attached to the announcement D20007, on 8 June 2020.
Kind regards,
Your Client Services Team
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