C7 Releases


C7 Release 7.1

With this release, Eurex Clearing will migrate settlement prices from the legacy infrastructure into C7. Series generation included in this release is a necessary step in order to achieve this. Another major item in scope is the upgrade to FIXML Broker Java.

New features, changes and improvements: 

  • Series Generation
  • FIXML Broker migration
  • Corporate Action Processing

Simulation start: 10 May 2021
Production start:  5 July 2021

C7 7.1 timeline (1)

System Documentation

Overview and Functionality

Eurex Clearing GUIs

Interfaces


Messaging Interfaces Connectivity

Reports

Circulars

FAQ

1. Will my back-office system be able to connect to C7 using legacy AMQP version 0.10?

No, Java doesn’t support legacy AMQP version 0.10 and participants need to ensure they upgrade to latest AMQP version 1.0.

2. Will I be missing out information with the decommission of “end-of-stream” messages?

"End of stream" message is used to inform about internal broker maintenance. C7 is now decommissioning the "end of stream" message coming from the legacy Eurex Classic as it is outdated. Members should be using the "End of assignment of all products" message which contains the EOD information. There is no difference in processing time for these messages, which are normally sent (if no delays) between 22:35 and 22:45 CET.

3. Will I be missing out information with of TA111?

No, as all relevant information will be included in new report TA711.

4. When will the updated documentation regarding end of day file reports be available?

Documentation such as member report, reference manual and modification notes are already available under system documentation of the initiatives page C7 Release 7.1.

5. Will there be an updated fixml connection test tool available that provides the possibility to pass a client_id to the test tool?

Our connection test tool does not provide this feature and we are not planning to do so. Our preferred approach is not to use Client-ID at all.

Connection test tool sources are publicly available here: https://github.com/Eurex-Clearing-Messaging-Interfaces/FIXML-Connection-Test-Tool.

If customer feels confident enough, Client-ID can be added to connection string manually in file master/src/main/java/de/deutscheboerse/fixml/BrokerConnector.java in method public BrokerConnector (final CommonOptions options).

See: jms.clientID in https://qpid.apache.org/releases/qpid-jms-0.56.0/docs/index.html#jms-configuration-options.

6. With the FIXML Broker Migration, will Unique Client ID be validated in the CCP records?

Yes, it will definitely be validated and if a second FIXML string attempts to connect with the same Client ID, it will receive an error message and won't be able to establish connection.

7. Will reports CE770 and CE771 change with a new tag packageId o Unique Id for baskets?

Package ID is being incorporated in the reports. However please note that baskets are not currently being traded, therefore you won't see this field until basket functionality is switched on.

8. Can corporate action behavior be tested?

There are already contracts in simulation with a trading unit cash > 1 such as BMW and ENR (you can see this in the last column "TradingUnitCash" of TA111). For these contracts, TradingUnitShares and TradingUnitCash will change with C7 7.1. It would be a possible test scenario in Simulation, where a CM creates a position in one of these contracts and exercises parts of it before or on 10th of May and the remaining part on or after 11th of May. 

In case of exercises on/before 10 May, the cash settlement will be more than one share (depending on TradingUnitCash shown on TA111) and for exercises on/after 11 May, cash settlement will be only for fractions (depending on TradingUnitCash shown on TA711).

If this test scenario is not sufficient and Clearing Members actually need two subsequent corporate actions (e.g. due to the fact that they have their own logic to calculate TradingUnitShare and TradingUnitCash), we could potentially create this after 11 May with product ENR, please let your Clearing Key Account Manager or client.serivces@eurex.com know if that's the case.
 

9. When are we required to submit the readiness statement by?

C7 7.1 readiness statement is required by 25 June 2021.

Readiness Videos

Release Items/ Participants Requirements


Feature/Enhancement

Details

 Action Items

FIXML Broker migration

Eurex Clearing FIXML broker will be migrated from qpid C++ to qpid Java.


Primarily customers need to ensure to be on AMQP version 1.0. In addition, Clearing Members are advised to note the key differences in FIXML behavior with Java protocol compared to C++. 

Series generation

Clearing Business Date @BizDt(715): will be added to contract add/change/delete messages.

Maturity Date @MatDt(541): will be added to regular contracts in the contract add/change/delete messages and in broadcast messages for transaction and position management.

Sender Comp Id @SID(49): current value “CCP” will be replaced by “ECAG” or “ECC”.

Clearing Members and ISVS need to check if their AMQP back office library is compatible with the C7 changes and make the necessary adjustments if required.

Decommission of "end-of-stream" messages

Members are advised to use the "end-of-assignment for all products" message.

Clearing members and ISVs need to check if their AMQP back office library is compatible with the C7 changes and make the necessary adjustments if required.

Corporate Action Processing

New logic will be applied to the physical delivery of options or futures subject to a corporate action:

  • The integer part of the trading unit will always be share-settled
  • The decimal part of the trading unit will always be cash-settled

Clearing Members and ISVs need to check if their AMQP back office library is compatible with the C7 changes and make the necessary adjustments if required.

Report changes


  • RPTTA111 “All Active/Inactive Series” will be decommissioned and replaced by RPTTA711
  • RPTTA110 “Contract Maintenance” will be decommissioned
  • RPTCA051 “Capital Adjustment Series” will be decommissioned and replaced by RPTRC100


Legacy reports will be generated for the last time after EOD on Friday 2 July 2021. Also new reports will be generated in production after EOD on Friday 2 July 2021. On that date, clients are advised to store the legacy report but consume the new report. 


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For technical support, please contact your Technical Key Account Manager or CTS@deutsche-boerse.com. For functional support, please your Clearing Key Account Manager or client.services@eurex.com.

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C7-Releases