CCP services: Deactivation of non-relevant services

1. Introduction

This circular contains information about the deactivation of provision of CCP services for those customers for whom the respective CCP services are not relevant anymore after the migration of Eurex Derivatives and Cash Equity clearing to C7 SCS. The deactivation considers the following services:

A.    CCP reports
B.    CCP service “deferred cash accounting”

The amendments for the deactivation will become effective as of 31 May 2022.

2. Required action

Although only non-relevant CCP services will be deactivated, customers are asked to pay attention to the possible impact of the decommissioning of non-relevant CCP reports on their internal processes. Moreover, customers are asked to unsubscribe from other non-relevant CCP Reports which cannot be generally deactivated by Eurex Clearing AG according to the scope and approach described below.

3. Details of the initiative

A.    Deactivation of CCP reports that are not relevant for the respective customers

After migration of the Cash Equity clearing to C7 SCS in September 2021, the remaining activity on the old CCP system only comprises clearing of Eurex Repo transactions and clearing of transactions settled with Euroclear UK & Ireland (EUI). As CCP services related to the migrated business have not been fully decommissioned by customers, Eurex Clearing AG will centrally deactivate certain CCP services as of 31 May 2022 for those customers for whom the respective CCP services are not relevant anymore with the following scope and approach:

1.    CCP reports that are neither relevant for clearing of Eurex Repo transactions nor for settlement of Eurex deliveries within EUI will be deactivated for all Clearing Members, Non-Clearing Members and settlement institutions.

Reports concerned: CA130, CA180, CB220, CE295 and CE395 including versions for settlement institutions and Non-Clearing Members, where applicable. 

2.    CCP reports that are relevant both for clearing of Eurex Repo transactions and for settlement of Eurex deliveries within EUI will be deactivated for Clearing Members and Non-Clearing Members that have neither a Repo Trading or Clearing license nor an EUI account setup with Eurex Clearing AG.

Reports concerned: CB230, CD250, CE260, CE265 and CE270 including versions for Non-Clearing Members, where applicable.

3.    CCP reports that are relevant for clearing of Eurex Repo transactions but not relevant for settlement of Eurex deliveries within EUI will be deactivated for Clearing Members and Non-Clearing Members without a Repo Trading or Clearing license.

Reports concerned: CA160, CB235, CD150, CE250, CE280, TC750 and TC755 including versions for Non-Clearing Members, where applicable.

4.    CCP reports that are not relevant for clearing of Eurex Repo transactions but relevant for settlement of Eurex deliveries within EUI will be deactivated for Clearing Members and Non-Clearing Members without an EUI account setup with Eurex Clearing AG.

Reports concerned: CE290 including version for Non-Clearing Members.

B.    Deactivation of CCP service “deferred cash accounting” for customers without access to the clearing of Eurex Repo transactions

The CCP service “deferred cash accounting” will be deactivated for accounts that are not set up for the clearing of Eurex Repo transactions.

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