As derivable from its name one or more trades can be transferred. The transfer is always a transfer to a different Clearing Member ID. A trade transfer always terminates the existing trade and re-opens a new trade with the same attributes and a new trade id.
A trade transfer can be performed via the Eurex OTC Clear GUI (Production/Simulation). It is the same process for both environments.
A Clearing Member or Disclosed Client with system access to the EurexOTC Clear GUI.
For each transfer, a member needs two users with respective access rights for the OTC Clear GUI to initiate and confirm the action.
Clearing Member or Disclosed Clients with system access can trigger the transfer.
Who needs to approve it?
The second approver (old Clearing Member) can find the trade(s) to be approved for transfer under the authorization required window (Eurex OTC Clear GUI):
After clicking on the number, the second approver can see the following (EUREX OTC Clear GUI after clicking on the number behind "Authorization required"):
The new Clearing Member will then find the trades for take-up in as follows in the OTC Clear GUI:
At this point the account can be changed on which the trade should be booked (and - if necessary – adjust the respective Source System Client ID, if you get an error message).
The second approver (new Clearing Member) can find the trade(s) to be approved for transfer under the authorization required window:
In the Eurex OTC Clear GUI after clicking on the number behind "Authorization required"
If there is enough collateral to fulfill the margin requirements, then the trade will be in status verified!
At any time during the business hours:
Configurable box allows to select up to 100 trades at once when initiating a transfer in the GUI. If you wish to transfer more than 100 trades, then you will have to perform the procedure several times.
There is also an option of a portfolio transfer to trigger a transfer with no limitation on the number of trades in the respective portfolio - but this is a different process.
Portfolio Transfer can also be done via EUREX OTC Clear GUI and more information on this can be found here (Portfolio Transfer within postal).
Trade Transfer Window in the EUREX OTC Clear GUI:
Yes, directly when triggering the transfer.
The direction of the fee (pay / receive) can be selected and the payment date specified.
Additionally, a comment can be entered (e.g. to explain purpose of the fee).
EUREX OTC Clear GUI:
EUREX OTC Clear GUI Trade Transfer Window:
The direction of the payment always refers to the member listed under “We”.
The direction is also visible for the second user who needs to approve the transfer from the sending party by the sign of the amount (EUREX OTC Clear GUI).
The new trade id will be displayed when the transfer needs to be accepted by the second user (as in the screenshot under 4.) in the Trade Transfer (Take-Up) window.
Yes, there are restrictions e.g. for the fee payment date . Further information and a step-by-step manual is available (EUREX OTCCLEAR User Guide).
You can find it on the Member Section or via Help in the OTC Clear GUI:
Help Functionality in the OTC Clear GUI:
This will directly provide the manual to be opened or saved
In case the trade is in status WAIT_MARGIN there is not enough collateral on either the old or new account or both!
When the new Clearing Member tries to pick up the trades.
Possible effects for the new Clearing Member:
The relevant status are:
More information on the status and the meaning can be found in chapter 11.2 “Portfolio and portfolio event status changes” in the EUREX OTCCLEAR GUI User Guide available via the Member Section.
The trade daily summary report (CI201 / CB201) shows all terminations and novations due to post trade events like the trade transfer.
If you require further information, please contact us at firstname.lastname@example.org.