EurexOTC Clear Releases

Report Changes

There are a few key updates to our reporting suite with the upcoming release. These changes are designed to provide greater flexibility and more detailed data:

• Easier access to netting data: You will be able to receive the Netting Report (CC244) in a CSV format, making it easier to use the data in your own systems. This will be available for CM, DC, and Basic DC A-Accounts.

• Trade daily summary enhancements: The Trade Daily Summary Report (CB201) will also be available in CSV for Basic DC A-Accounts. We have also added two new data fields to provide more insight: 
  • Leg1_compoundingMethod and 
  • Leg2_compoundingMethod.
• More detail in your inventory report: The same two new fields (Leg1_compoundingMethod and Leg2_compoundingMethod) have also been added to the CSV version of the Full Inventory Report (CB202).

For technical specifications, please see the Report Manual for Release 21.0. We are confident these enhancements will improve your reporting experience.

We kindly ask all Clearing Members to ensure that the relevant report changes are reflected in their internal processes.

Amendments in API Changes

The release will include enhancements to our API modules to improve data integrity. The following validation logic will be implemented:

• Fee currency and trade currency must match: For Interest Rate Swaps (IRS) trades, our system will now verify that the fee currency is the same as the trade currency.
• Correct business center for your currency: We will also validate that the business center provided corresponds to the fee currency (for example, trades with a EUR fee must use the EUTA business center, and CHF fees must use CHZU).

Any trade submission that fails these validations will be rejected or marked as invalid, preventing potential data conflicts. This validation applies regardless of the trade source (e.g., MarkitWire, Trade Entry API) and also applies when the initial margin is simulated through the MC-API.

We kindly ask all Clearing Members to ensure that relevant API changes are reflected in their internal processes.

GUI Changes

To complement the new partial transfer capability, we have enhanced the OTC GUI. You can now easily initiate and monitor partial transfers using the “Portfolio Upload” feature.

To enable this, we have introduced a new column called “Partial Transfer Amount”. Here is where you will see it and how to use it:

• When preparing your upload: In the Portfolio Transfer Upload Template, you’ll find the new, optional “Partial Transfer Amount” column. Enter the specific notional amount you wish to transfer. If you leave it blank, the system will process a full trade transfer.
• Viewing transfer status: The Portfolio Transfer Overview Window now includes this column to show the amount being transferred out.
  • For the transferer: This column will show the specific amount being partially transferred.
  • For the transferee: The received amount will appear in the main “Principal Amount” column.
• Downloading your portfolio: This new column is also included in the portfolio download file from the Cleared Trades Window for your reference.

Important Note: This feature applies to all eligible trades. Partial transfers for VIRS and SCIS trades with varying notionals are not supported.

There is no action required.

MC GUI Changes

We are improving the MC GUI to give you more control when checking trade eligibility.

With our next release, you will find an enhancement to the Clearing Eligibility Checker for IRS and OIS products. On the "Holidays" tab, we've added two new fields.

This update gives you the flexibility to enter separate Payment Lags and Holiday Centers for each leg of your trade, allowing for more precise and granular eligibility checks.

There is no action required.

Split Trade Functionality/ Partial Portfolio Transfer

With EurexOTC Clear Release 21.0, Clearing Members can transfer partial notional amounts of an IRD transaction within a portfolio transfer, allowing greater flexibility in managing positions:

• Supported in all three portfolio transfer cycles with optional Mark-to-Market adjustment.
• A single transfer request can include full and partial transfers.
• After risk check, the original trade is terminated and replaced by two new trades: One in the target account with the transferred notional and one in the source account with the remaining notional.
• Applies to eligible trades. Partial transfers are not supported for swaps with notional schedules (VIRS) or SCIS with varying notionals.

There is no action required.

Enhancement of Netting process

We have enhanced our netting process for trades with multiple "Upfront Fees" to improve data accuracy and prevent synchronization errors with MarkitWire:

• Only one fee remains "Upfront Fee": The fee with the earliest settlement date is kept as the primary "Upfront Fee."
• Other fees are relabeled: All other "Upfront Fees" from the original trade will now be categorized as "UnclassifiedFee."

This automated adjustment ensures your netted trades are processed smoothly and are always in sync with MarkitWire.

There is no action required.