This C7 Release 8.0 contains report enhancements as well as a change in processing of cash settled stock options resulting from exercises and assignments. In addition, this release contains the FIXML Broker migration to Java (previously planned for C7 Release 7.1).
Simulation start: 20 September 2021
Production start: 22 November 2021
Cash settlement of exercised/assigned OSTK contracts
The new processing of pure cash transactions resulting from exercise/assignment of stock option contracts (OSTK) comes in hand with the migration from CCP system to the new C7 SCS infrastructure.
Please note that the harmonization of Corporate Action processing has been moved out of this release and will be implemented at a later date.
Messaging Interfaces Connectivity
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Release Items/Participants Requirements
Feature/Enhancement | Details | Action Item |
Cash settlement of exercised/assigned OSTK contracts | Corporate action processing of cash transactions resulting from exercise/assignment of stock option contracts (e.g. cash settled flexible contracts or settlement of fractions) will be brought in line with the migration to C7 SCS. Cash transaction types 294 CASH SETTLEMENT PAID and 296 CASH SETTLEMENT RCV will be generated and processed with a value date T+1. | Clearing Members need to make the necessary adjustments on the reporting tools to support the new values. No new fields are being introduced. Reports impacted:
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Deliverable Bonds | The text version of the “RPTCE038” Deliverable Bonds Report will be decommissioned. Only the xml version and csv format of the report will be generated and provided. | Clearing Members are requested to make the necessary adjustments on the reporting tools. |
Collateral security enhancements | Collateral reports will be affected by the removal of obsolete fields and smaller enhancements providing additional security information such as Country Code and additional parameters (pool/inflation factor) for a transparent representation of the collateral value calculation. | Clearing Members need to make the necessary adjustments on the reporting tools. The following reports are affected:
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4 Eyes Processing | Attributes such as Maintenance of Automatic Close Out and Zero Cost Quantity (ZCQ) will support an optional four-eyes principle processing. | This is an optional enhancement and no action required form Clearing Members. Configuration can be changed in “Modify Account” window in the “Account Overview” in C7 GUI. Existing close-out parameters are displayed on CA770 “Account Maintenance” report. |
FIXML Broker migration | Eurex Clearing FIXML broker will be migrated from qpid C++ to qpid Java. At the same time, TLS 1.0 and TLS 1.1 versions will be decommissioned and only security protocol TLS 1.2 and above will be supported. | In order to be compatible with qpid Java,customers need to ensure to be on AMQP version 1.0 or above. Clearing Members are advised to note the differences in FIXML behavior with Java protocol compared to C++. Re-send test and failover test dedicated focus days are being offered to facilitate clearing participants to test system behavior. |
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Eurex Frankfurt AG
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