Central Securities Depositories Regulation FAQ

Eurex Clearing will provide daily and monthly penalty reports derived out of the CSD's MT537 penalty message, containing enriched data on CM level which will allow CMs to do own breakdowns. In addition, Eurex Clearing will provide a monthly Billing report showing monthly net payment information and an own invoice information for the actual payment.
Please refer to the Eurex Clearing Release Notes and Report Reference Manual for details of reports.

Clearstream (CSDs) will send the MT537 PENA message to all account owners, these information is on settlement account level, not Clearing Member level. Eurex Clearing has also settlement accounts (used also for Eurex physical deliveries) and will receive own MT537 PENA with all counterparty penalty information.
Eurex Clearing will provide daily and monthly penalty reports via CRE, derived out of the CSD's MT537 penalty message, containing enriched data on CM level which will allow CMs to do own breakdowns. Please refer to the Eurex Clearing Release Notes and Report Reference Manual for details of reports.

The daily and monthly reports will be created in the Eurex Clearing EoD processing (after both Securities CCP and C7 SCS has provided the data) and distributed to CRE members directories (CCP).

This is not a CCP topic, but CSD and their Settlement account owner relationship. CMs will only receive the MT537 PENA directly from the CSDs  in the role of a settlement account owner.

Eurex Clearing will report penalties daily in a new XML report CE840 via CRE, mapped from delivery instruction to CM. Single trades below a failed delivery instructions are reported without breakdown of penalty value.

Eurex Clearing will provide daily (and monthly) XML penalty reports via CRE, derived out of the CSD's MT537 penalty message, containing enriched data which will allow CMs to do own breakdowns. Please refer to the Eurex Clearing Release Notes and Report Reference Manual for details of reports.

Please refer to the Eurex Clearing CSDR Release Notes and Report Reference Manual for details of reports and CRE storage (all reporst will be in CRE CCP folder).

Please refer to the Eurex Clearing CSDR Release Notes and Report Reference Manual for the report details.

In case no penalty are to be reported for a member ID, an empty report will be created (no data report).

Only one report per day per CM with final end-of-delta sequence information (based on daily CSD new and amended penalty messages) received from CSDs on this day. Each penalty is reported with related penalty status as received by CSDs.

Sample files are stored here: Central Securities Depositories Regulation.

Eurex Clearing will provide a new monthly XML penalty report CE845 via CRE, derived out of the CSD's monthly MT537 penalty message, containing enriched data on CM level. In addition, Eurex Clearing will provide a monthly Billing report CB226 showing monthly net payment information and a separate own invoice information for the actual payment. Please refer to the Eurex Clearing CSDR Release Notes and Report Reference Manual for details of reports.

The timeline is aligned to the CSD penalty collection on the 17th BD of following month.

In case no penalty are to be reported for a member ID, an empty report will be created (no data report).

Samples are stored here: Central Securities Depositories Regulation.

All Eurex Clearing report will be provided in the EoD process. Daily in EoD process of the day of CSD MT537 reporting, monthly on the 14th BD EoD.

As a regulatory penalty, CSDR will substitute current Eu Short Selling Regulation fines. But contractual fines as fines over dividend record day and fines for late deliveries out of notifications and allocations for bonds will stay as today.

Overnight holdings will be rare cases (e.g. prevented by T2S processing change), but lead to unbalaced penalty calculation in Eurex Clearing account view. As Eurex Clearing as CCP should not have own penalty obligations for their cleared business, Eurex Clearing will apply a pro-rata distribution as described in the Release Note in case of CSD unbalanced calculations.

Eurex Clearing will not pass own CSD account related CSDR costs to the members and will not raise own fees/charges for the administration of CSDR penalty process.