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1. Introduction
As part of Clearstream's Project UNO (Unified for New Opportunities), Eurex Clearing AG is aligning its settlement infrastructure to reflect the structural changes at Clearstream Europe AG (CEU). Effective with the market activation of UNO Wave 3, four Single Stock Options currently assigned to the capacity group "Physical SEK - CBF/T2S" will be migrated to the capacity group "Physical SEK", and the corresponding security settlement location will change from 6-series accounts in Creation (code "CBF-i") to accounts at CEU/T2S (code "CBF") for all products in the capacity group “Physical SEK”.
These changes ensure consistency with Clearstream's unified post-trade infrastructure and streamline the settlement process for affected products. The changes will take effect on 11 September 2026 in production and have been available in simulation since 10 June 2026.
For further information on the simulation opportunities, please refer to the Eurex Clearing Readiness Newsflash from 20 May 2026.
All Eurex Clearing Members holding positions or trading in the affected Single Stock Options are impacted by this change.
These changes are part of the broader UNO Wave 3 market activation. Learn more about Project UNO and Eurex Clearing's related readiness activities on our dedicated initiative page under the following link:
Support > Initiatives & Releases > Readiness for projects > Project UNO.
2. Required action
Clearing Members trading or holding positions in the four affected Single Stock Options should note the following:
Capacity group change: The capacity group for the products listed below will change from "Physical SEK - CBF/T2S" to "Physical SEK". Members must ensure that their internal systems and capacity group mappings are updated accordingly.
Settlement location change: The security settlement location for the capacity group "Physical SEK" will change from settlement on 6-series accounts in Creation (code “CBF-i") to settlement at CEU/T2S (code “CBF”). Members should verify that their settlement instructions and static data reflect this change.
Deadline: All adjustments must be completed before the production effective date of 11 September 2026.
3. Details of the initiative
3.1 Background
Clearstream's Project UNO consolidates the settlement infrastructure of Clearstream Europe AG by making instruments T2S-eligible so that all transactions can settle on the CEU/T2S platform aiming for a decommissioning of 6-series accounts. This initiative simplifies the post-trade landscape and reduces operational complexity for market participants. Further details on Project UNO are available in the Clearstream UNO Rollout Documentation.
3.2 Affected products
The following four Single Stock Options are affected by this change of the capacity group:
Product ID | Bloomberg Ticker | Product Name | ISIN |
TLI | TELIA SS Equity <OMON> | Telia | SE0000667925 |
NDE | NDA SS Equity <OMON> | Nordea Bank | FI4000297767 |
ABB | ABB SS Equity <OMON> | ABB | CH0012221716 |
NOK | NOKIASEK SS Equity <OMON> | Nokia | FI0009000681 |
Please note that with UNO Wave 3 all other products being in the capacity group “Physical SEK” already will change their settlement location for physical deliveries to CEU/T2S.
Further information
Recipients: | All Trading Participants of Eurex Deutschland and Vendors |
Target groups: | Front Office/Trading, Middle + Backoffice, IT/System Administration |
Related circulars: | Eurex Clearing Circular 013/25 |
Related newsflash: | Eurex Clearing Readiness Newsflash from 20 May 2026 |
Contact: | uno.ecag@eurex.com |
Web: | Unified for new Opportunities (UNO) |
Authorized by: | Matthias Graulich |
Market Status ⓘ
XEUR
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