EurexOTC Clear Releases


EurexOTC Clear Release 11.3

Eurex Clearing introduced EurexOTC Clear Release 11.3 in October 2021. To ensure a smooth readiness for Release 11.3  an overview of release relevant content for EurexOTC Clear Members is made available on this website. 

New features, changes and improvements: 

  • Transition from EONIA to €STR transactions referencing the EONIA benchmark  
  • 2021 ISDA Definitions 

Please note that the information provided on this website can be changed at the discretion of Eurex Clearing.

Simulation start: 17 August 2021 (Dress Rehearsal for EONIA transition 17-19 Aug and 31 Aug - 2 Sep 2021)
Production start: 2021 ISDA Definitions - 4 Oct 2021, EONIA transition - 18 Oct 2021

OTC 11.3 Timeline

Further information on important dates
The adoption of the 2021 ISDA Definitions started in production: 4 October 2021. EONIA to €STR trade conversion process was on Friday, 15 October until Saturday, 16 October 2021 and included booking of mandatory compensation fees settled on Tuesday, 19 October 2021.

System Documentation

  • N7 Network Access Guide_v2.0.59
    Publication date: 30 Sep 2021
    This document provides details on the network access options for T7 and Eurex Clearing's interfaces. It includes detailed technical background information, such as router equipment information and port numbers for the configuration of firewalls.
  • OTC Focus Call | Presentation
    Publication Date: 20 Sep 2021
    This presentation contains information about 2021 ISDA Definitions, EONIA to €STR conversation, Transition of CHF, GBP and JPY Libor references to RfR and further topics.


The OTC system documentation are stored in the Member Section under the following path: Resources > Eurex Clearing > Documentation & Files > EurexOTC Clear > System documentation.


Circulars

Frozen Zone

Simulation

  • 15.07.2021 – 22.07.2021
  • 13.08.2021 – 20.08.2021

Production

  • 19.08.2021 – 24.08.2021
  • 14.10.2021 – 19.10.2021

Readiness Videos

Release Items/Participants Requirements

Feature/Enhancement

Details

Action Item

Transition from EONIA to €STR transactions referencing the EONIA benchmark

Active conversion of all explicit EONIA floating rate references to €STR-flat will take place. 

Any simple spread above the floating rate reference or fixed rates defined in affected trade confirmations will remain unchanged (only the benchmark index changes). 

A one-off cash compensation will be introduced to mitigate the associated change in present values of affected trades. 

The conversion will be mandatory for all cleared trades referencing EONIA as of the conversion date. Upon completion of the conversion, EONIA floating-rate references will no longer be eligible for the EurexOTC Clear service. 

The setup was tested with a dress rehearsal between 17 - 19 August and 31 August - 2 September 2021 in the OTC member simulation environment.

Impacted Clearing Members are advised to do the necessary operational changes internally according to the EONIA Trade Conversion Booklet, which is available in the Member Section under the following path: 
Resources > Eurex Clearing > Documentation and Files > Benchmark Transition Information > EUR: EONIA-€STR Transition.

We strongly recommend that Clearing Members and clients should, proactively and prior to testing, upload the portfolio that they want to test in the simulation environment.

2021 ISDA Definitions 

Eurex Clearing will accept transactions for clearing in production that reference the 2021 ISDA Definitions in the ‘Contractual Definitions’ field or use 2021 ISDA Definitions-based Floating Rate Option labels. 

Clearing Members are required to check for details: Clearing of new Trades, Treatment of Master Agreements &  Contractual Definitions for novated trades, Portfolio Compression, Post Trade Events, Reports, Clearing Confirmation Message, and Netting and Accumulation in Eurex Clearing’s Proposal on ISDA 2021 definitions, which is available in the Member Section under the following path: 
Resources > Eurex Clearing > Documentation & Files > EurexOTC Clear > System documentation > Overview.


IBOR

The IBOR reform - the biggest change in the capital markets! Visit our dedicated section for more details.
Find out more!

CRE

The Common Report Engine (CRE) is Eurex Group’s central solution for trading and clearing report.
Find out more!

Further information about EurexOTC Clear can be found here.

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

Are you looking for information on previous releases? We have stored information about our previous releases in our Archive for you!  

Overview of content