14 Oct 2021

Eurex Clearing

Eurex Clearing enhances C7 with new Securities Clearing Service (SCS)

The C7 clearing platform was designed to meet a changing regulatory environment. It offers the scalability and flexibility needed to meet evolving product opportunities and high-volume demand. A unique system designed to support the clearing of derivatives and securities on a common architecture. 

With the update to C7 SCS, launched on 27 September 2021, Eurex Clearing AG (ECAG) migrates the clearing of equities and bonds to the C7 architecture and takes the strategic decision of introducing Trade Date Netting (TDN) to harmonize its services with European standards. 

“With the new system, Eurex Clearing will be able to provide its customers with a shorter time-to-market for a greater responsiveness to changing regulatory demands and launching new products.”
Stefan Gasper, Head of Settlement Service

The new securities clearing system C7 SCS was introduced for all transactions involving Central Counterparty Clearing House (CCP)-eligible instruments concluded on the Frankfurt Stock Exchange, as well as for transactions concluded on Eurex Deutschland that result in physical settled securities transactions. 

With this migration, Eurex Clearing now applies Trade Date Netting (TDN) as the only supported net processing model. This new mechanism offered with C7 SCS, replaces the previous Basic Service, Extended Service and Full Service applying Actual Settlement Day Netting (ASDN). 

“With the move to TDN, we offer our trading and clearing clients a state-of-the-art cash equity clearing platform, which at the same time gives us more flexibility for future service and product expansions.”
Christian Schürlein, Head of Business Development Wholesale

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