25 Nov 2021

Eurex

Eurex Exchange Readiness Newsflash | MiFID II/MiFIR: New Short Code regime starting 3 January 2022

Eurex Exchange Readiness Newsflash | MiFID II/MiFIR: New Short Code regime starting 3 January 2022


Dear Eurex Participants,

As published and reminded most recently with Eurex circular 095/21 in October 2021, the Short Code regime starting 3 January 2022 is to be adapted. Following the jointly published guide of Eurex Deutschland and the Frankfurt Stock Exchange, namely the “FWB Eurex Member Guide Short Code Regime 2022”, shall serve as a basis for the preparations of Eurex Trading Participants. We therefore like to draw your attention again to the upcoming changes and required actions.

Starting 1 December 2021, the new validation rules will be available in the T7 production environment. Please refer to the joint guide “FWB Eurex Member Guide Short Code Regime 2022” for more details.

Trading Participants may start to prepare their Short/Long Codes by uploading their uniquely assigned Short/Long Codes to the trading venue database from 1 December 2021, setting the “valid from” to 2022-01-03 or a later trading day. Trading Participants may also upload their uniquely assigned Short/Long Code combinations starting 3 January 2022. 

Please note that the prevailing Short/Long Codes will be deleted, i.e. terminated on 31 December 2021. Hence, all Trading Participants are required to (re-)upload their Short/Long Codes to the database.

Please be also reminded that Short Codes used in an order for the first time may be decrypted into the corresponding Long Codes latest by the end of the trading day following the trading day of the order submission. Thus, it is not required that the Long Code assigned to a Short Code is already registered with the exchange prior to first usage of the Short Code.

We strongly recommend using the Common Upload Engine (CUE) for the uploads. However, the Member Section upload functionality is also available. The previously used SFTP server upload processes were officially migrated to the CUE with the T7 Release 10.0 production launch date 22 November 2021, the SFTP server will end services on 17 December 2021. From this date onwards, uploads are to be done using the CUE or the Member Section upload functionality.

In addition, the joint “Frankfurt Stock Exchange and Eurex Information handbook for audit trail, transaction and other regulatory reporting under the MiFID II/MiFIR regime” (reporting handbook) has been updated to reflect the amendments in the related chapter regarding Short Codes, in order to provide Trading Participants with aligned and comprehensive information on the Short Code solution and the new regime starting 3 January 2022.

Please find the documents on the Eurex website www.eurex.com under the following path: 

Rules & Regs > MiFID II/MiFIR > Client & Member Reference data

Kind regards

Your Client Services Team
 

 

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Recipients:

All Trading Participants of Eurex Deutschland and Vendors

Target groups:

Front Office/Trading, Middle + Backoffice, IT/System Administration, Auditing/Security Coordination, Nominated Persons

Contact:

client.services@eurex.com and eurex.regularory.reporting@eurex.com

Web:

www.eurex.com > Rules & Regs > MiFID II/MiFIR > Client & Member Reference data


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