Eurex Clearing
Dear Clearing Member,
With this Newsflash, Eurex Clearing would like to request you to timely release pending payments free of delivery (PFOD) on the payment date.
In the context of market claim income events (e.g. dividend payments) and transformations in cash (e.g. redemptions) related to an underlying delivery instruction from the C7 SCS system, Clearstream generates PFOD instructions in T2S. The Party Hold indicator of the PFOD instruction is derived from the underlying delivery instruction (please see Clearstream Announcement D20059), i.e. if the underlying delivery instruction is in status “on-hold” on record date also the PFOD instruction is generated in status “on-hold” and remains unsettled until the PFOD instruction is released at CBF/T2S.
To ensure a timely balancing of cash obligations in the context of income events, we kindly ask Clearing Members to release their payment instructions on payment date.
Learn 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 is available there for you.
If you have questions or comments, please send an e-mail to client.services@eurex.com.
Kind regards,
Your Client Services Team
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Recipients: | All Clearing Members, Basic Clearing Members, Disclosed Direct Clients of Eurex Clearing AG and vendors | |
Target groups: | Front Office/Trading, Middle + Back Office, IT/System Administration, Auditing/Security Coordination | |
Contact: | client.services@eurex.com | |
Web: | Support > Initiatives & Releases > C7 SCS Releases > C7 SCS Release 1.0 |
