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13 Mar 2019

Eurex

Provision of TES Late Approval Report (TE547) for monitoring of breaches to the Late Entry regime

Since 2 January 2019, Eurex Trading Participants are able to receive the newly provided TE547 report (TES Late Approval Report) via the Common Report Engine (CRE).

The TE547 report is provided on a monthly basis and contains information regarding all resulting T7 Entry Service (TES) trades for which approval was delayed (covering simple, complex and flexible instruments for the preceding trading month). Delayed approvals of TES trades constitute “case II” breaches to the Late Entry regime.

The Late Entry regime comprises a maximum of two permitted time frames:

    • A maximum time frame of 15 minutes which is permitted between the agreement of all economically necessary details related to a transaction and the entering of the respective offer conditions into the trading system T7 (case I – as explained below); and
    • An additional maximum timeframe of 15 minutes which is permitted for the confirmation of the offer conditions by the respective counterparty in T7 (case II).

For further information, please refer to Part 4.4 of the Conditions for Trading at Eurex Deutschland or the respective circulars, which are related to this topic.

Potential “case I” violations (i.e. delayed order entry into T7) cannot be identified systematically, so no information relating to these breaches is included in the TE547 report.


Market Status

XEUR

The market status window is an indication regarding the current technical availability of the trading system. It indicates whether news board messages regarding current technical issues of the trading system have been published or will be published shortly.

Please find further information about incident handling in the Emergency Playbook published on the Eurex webpage under Support --> Emergencies and safeguards. Detailed information about incident communication, market re-opening procedures and best practices for order and trade reconciliation can be found in the chapters 4.2, 4.3 and 4.5, respectively. Concrete information for the respective incident will be published during the incident via newsboard message. 

We strongly recommend not to take any decisions based on the indications in the market status window but to always check the production news board for comprehensive information on an incident.

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