A member of
Eurex Clearing
1. Introduction
With this circular, Eurex Clearing announces the technical launch of CCP Release 18.0 on Monday, 23 November 2020. Eurex Clearing has to follow the technical preparations for Regulatory Project CSD-R by CSDs and activate the partial settlement possibility for Clearstream Banking Luxembourg and Euroclear Bank. ICSD settlement processing will be aligned with existing settlement T2S procedures.
2. Required action
The activation of partial settlement flag by Clearstream Banking Luxembourg and Euroclear Bank will result in possible partial settlements and this information will be delivered on the following CCP Settlement reports:
All CCP Participants are advised to check their internal processing for settlement feedback:
3. Details
In preparation for regulatory CSD-R project, the ICSDs Euroclear Bank has enabled the possibility of partial settlement in June 2020, and Clearstream Banking Luxembourg will introduce the offering of partial settlement possibility to its customers in October 2020.
Eurex Clearing as ICSD customer will activate the partial settlement on ICSD accounts together with the introduction of technical CCP Release 18.0. As the cash deviations, which may result to partial settlement, are shown on CCP Report "Partial Delivery Deviating Cash Amount", it is important for Members to select this report in the “Report selection” section of the Securities Clearing GUI. The resulting debit/credit cash transaction will be included in the overall cash transaction resulting from CCP business and settled via Participants’ T2 cash account.
Unless the context requires otherwise, terms used and not otherwise defined in this circular shall have the meaning ascribed to them in the Clearing Conditions or FCM Clearing Conditions of Eurex Clearing AG, as applicable.
Further information
Recipients: | All Clearing Members, FCM Clearing Members, Basic Clearing Members, Disclosed Direct Clients of Eurex Clearing AG, vendors, settlement institutes and other affected contractual parties |
Target groups: | Middle + Backoffice, IT/System Administration, Auditing/Security Coordination |
Contact: | client.services@eurexclearing.com |
Web: | www.eurexclearing.com |
Authorised by: | Dmitrij Senko |