Eurex Clearing Readiness Newsflash | C7 SCS Release 1.0: 1. Revised Focus Days planning – Unavailability of certain Focus Days, 2. Simulation activity, 3. Required action for Italian Bonds Settlement – Reminder

Dear Clearing Member,

With this Newsflash, Eurex Clearing wants to draw your attention to additional updates regarding the C7 SCS Release 1.0.

Learn now more about C7 SCS Release 1.0 on our dedicated initiative page under the following link: Support > Initiatives & Releases > C7 SCS Releases > C7 SCS Release 1.0. System documentation, circulars, timeline and much more information are available there for you. 

1. Revised Focus Days planning – Unavailability of certain Focus Days

With this update, we inform you about a revised “Focus Days” planning only in regard to “Corporate Actions for markets migrated to OneClearstream". Due to unexpected events and technical constraints, “Focus Days” of Corporate Action Transformations events (MRGR) related to “Markets migrated to OneClearstream" cannot be offered to Clearing Members during the C7 SCS Release 1.0 Simulation. Please note that all other Transformation and Market Claim Events will remain unchanged.

The revised Corporate Action Focus Day plan for CBF (“Corporate Action Focus Day details for C7 SCS 1.0 Member Simulation – CA Input CBF”) can be found on the Initiatives Page under Support > Initiatives & Releases > C7 SCS Releases > System documentation > Functional Manuals.

This limitation has also been published within the List of Known Limitations on the C7 SCS Release 1.0 Initiative Page under: Support > Initiatives & Releases > C7 SCS Releases > System Documentation > Functional Manuals.

2. Simulation activity

The C7 SCS 1.0 Simulation is running well and Clients are still strongly encouraged to continue testing. In the upcoming weeks, Corporate Action Focus days at CBF and SIS will be simulated.

The Simulation Calendar and the Member Simulation Guide, which provide an overview of the ongoing Simulation and its batch and focus days, can be found on the Initiatives Page under: Support > Initiatives & Releases > C7 SCS Releases > System documentation > Functional Manuals.

3. Required action for Italian Bonds Settlement – Reminder

Clearing Members of Eurex Trading Participants trading derivatives, who currently use CBF-i settlement accounts for deliveries resulting from futures notification/allocation for Italian bonds, must provide the tax information (TIN) for Italian Tax Authorities to Clearstream Banking Frankfurt prior to the introduction of C7 SCS Release 1.0.

Please note that the same CBF settlement account that is used for German Bonds settlement will be also used for future Italian Bonds settlement processing. Therefore, the Italian tax information must be provided for the CBF account.

For more information about C7 SCS Release 1.0: Change of settlement location for deliveries of French, Italian and Spanish government bonds, please see Eurex Clearing Circular 040/21.

If you have any further questions or comments, please send an e-mail  to client.services@eurex.com.

Kind regards,
Your Client Services Team
 

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