Nov 15, 2021
Eurex Clearing
Eurex Clearing Readiness Newsflash | CCP: Processing during the T2S Release 5.2 deployment weekend 19-21 November 2021
Dear Clearing Member,
We would like to draw your attention to the T2S Release 5.2 on 22 November 2021 affecting both CCP and C7 SCS.
Eurex Clearing acts as a T2S Indirectly Connected Participant (ICP) and uses Clearstream Banking Frankfurt (CBF) as a Settlement Agent towards T2S. In the context of T2S Release 5.2, Eurex Clearing will keep its processing towards the customers stable over the T2S deployment weekend from 19 November to 21 November 2021.
The T2S software deployment starts in the evening of Friday, 19 November 2021. Therefore, T2S Night Time Settlement (NTS) will not take place on that Friday and no settlement results will be provided until 20:00 CET.
In particular, the CBF deployment of T2S Release 5.2 affects the reporting of two Eurex Clearing systems, Securities CCP and C7 SCS.
Securities CCP:
The Settled Delivery Reports CE270/1/2 generated on Friday, 19 November 2021 will not contain the CBF settlement feedback after 16:00 CET, i.e. 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, 22 November 2021 at 05:30 CET.
C7 SCS:
In the Pending Delivery Reports CE860/1/2 from Friday, 19 November 2021, the additional information from CBF on newly generated settlement instructions will not be included. In particular, the CSD reference (CASCADE reference, “KP”-number) from CBF will not be available for settlement instructions that were newly generated on 19 November 2021 after 20:00 CET. The missing CSD reference will be delivered on Monday, 22 November 2021 in the regular reporting run.
Please note that in general, the Pending Delivery Reports CE860/1/2 and the Settled Delivery Reports CE870/1/2 reflect only settlements with actual settlement date equal to the business day of the C7 SCS report, but no settlement from the NTS for the upcoming settlement date.
Kindly refer to CBF announcements D21026 from 29 October 2021 and D21047 from 22 October 2021 for more information on T2S/CBF processing during the T2S Release 5.2 deployment weekend. CBF’s assessment shows that the fixes will not require any software changes in CBF.
Kind regards,
Your Client Services Team
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Recipients: | All Clearing Members, Basic Clearing Members, Disclosed Direct Clients of Eurex Clearing AG and vendors | |
Target groups: | Middle + Backoffice, IT/System Administration | |
Contact: | client.services@eurex.com | |
Web: | www.eurex.com/ec-en/ |
