23 Sep 2022

Eurex Clearing

ETF settlement: Change of settlement structure for ETFs of Xtrackers

Eurex Clearing Circular 070/22 ETF settlement: Change of settlement structure for ETFs of Xtrackers

1.  Introduction   

Xtrackers will convert their Exchange Traded Funds (ETFs) traded on Xetra (MIC: XETR) and Börse Frankfurt (MIC: XFRA) to the International Central Securities Depository (ICSD) model. The conversion will be carried out in two tranches.

Effective date of the first tranche:            3 October 2022 
Effective date of the second tranche:     10 October 2022

2.  Required action

There is no required action for the participants.

3.  Details of the initiative

The first migration tranche consists of 96 ETFs, the second migration tranche consists of 60 ETFs, as listed in the attachment to this circular. Following successful conversion, shares of these ETFs will be held in non-collective safe custody (NCSC). ISINs and short codes of the converting ETFs will remain unchanged.

The converting ETFs will remain CCP-eligible. Settlement of converted ETFs will take place on a Clearstream Banking Frankfurt International (“CBF-I”) 6-series account with settlement location “CBL”. The settlement account of Eurex Clearing will be “67525”.

Please refer to Xetra Circulars 049/22 (first tranche) and 051/22 (second tranche) for further information related to the adjusted settlement structure for the ETFs listed in the attachment.

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.

Attachment:

  • Table “Converting ETFs”


Further information

Recipients:

All Clearing Members, ISA Direct Clearing Members, Disclosed Direct Clients of Eurex Clearing AG, vendors and other affected contractual parties

Target groups:

Front Office/Trading, Middle + Backoffice

Related Circulars:

Xetra Circulars 049/22, 051/22

Contact:

client.services@eurex.com

Web:

www.eurex.com/ec-en/

Authorized by:

Jens Janka