Eurex Clearing
Dear Clearing Member,
With this Newsflash, Eurex Clearing wants to draw your attention to the start of the second phase of C7 SCS simulation and its Focus days. In this phase of simulation, the settlement feedback that participating Clearing Members will receive is provided by the connected (I)CSDs (CBF and SIS) due to a direct involvement between C7 SCS and the related (I)CSDs. For that reason, participating Clearing Members can expect their individual reporting from the participating and connected (I)CSDs as well.
Furthermore, there are three one-time Post-Migration Reports available on the Common Report Engine (CRE) giving you an overview of the current simulation C7 SCS settlement account setup active as of 17 May 2021.
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 will be available there for you.
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1. C7 SCS Focus Days
C7 SCS focus days offered in simulation in the calendar weeks 20-34/21, the detailed description of C7 SCS is provided in the document “Member Simulation Guide - Attachment with Focus Day description and ISIN list” under the following link:
Support > C7 SCS Releases > C7 SCS Release 1.0 > System Documentation > Functional Manuals
a. Trade Load and Parallel Run of Securities CCP and C7 SCS
Focus for this week is to provide Clearing Members a production-like situation describing the start of production on 27 September 2021. The "Big Bang" approach, as it will happen on the production start day will be like the behavior of those ISINs that are selected for this focus day on 17 May 2021. All trades that have been entered before 17 May 2021 will be processed in Securities CCP. All trades inserted on or after 17 May 2021 will be processed in C7 SCS.
b. Delivery Instruction Settlement
The scope of this focus days is set on the processing and reporting of settlement instructions of C7 SCS in combination with CBF/SIS. Full and partial settlement will be reflected by C7 SCS with the Pending Delivery and the Settled Delivery Reports (CE860/1/2 and CE870/1/2). In addition, Clearing Members can reconcile their C7 SCS reporting with the CSD reporting provided by CBF/SIS.
c. Member Delivery Management
Clearing Members will be able to send status changes of "Hold/Released" requests for full and partial settlement directly to CBF (ICP, via CASCADE GUI) or to T2S (DCP, via T2S GUI) or (for full settlement) directly to SIS (via SIS GUI). C7 SCS receives CSD feedback from CBF/SIS and incorporates this feedback into the C7 SCS reporting to Clearing Members.
d. Corporate Action with CBF/SIS (T2S ISINs)
Clearing Members will be able to send status changes of "Hold/Released" requests for full and partial settlement directly to CBF (ICP, via CASCADE GUI) or to T2S (DCP, via T2S GUI) or (for full settlement) directly to SIS (via SIS GUI). C7 SCS receives CSD feedback from CBF/SIS and incorporates this feedback into the C7 SCS reporting to Clearing Members.
2. Post-Migration Report
The reports were provided via CRE to all Clearing Members (CM). The location and the name of the report has the following structure:
RM for Reference Data Migration; 21: Environment for CCP / C7 SCS Simulation
They contain all relevant information regarding CM’s (and its TM’s) current Settlement Account Reference Data Setup (Master Data, Product Group Assignments, Settings and Clearing Settings) which will be used for processing within the new system in simulation (setup overview relevant for production will be published in the same way at a later point). These settings are either default or can be changed if you provide your Key Account Manager with an updated Settlement Account Setup Sheet. The exact structure of the report can be found in the document "C7 SCS Post Migration Report - Structure" on the initiatives page under Support > Initiatives & Releases > C7 SCS Releases > System documentation > Functional Manuals.
3. Known Limitations
The current “List of Known Limitations for C7-SCS 1.0 Member Simulation” for C7 SCS simulation is published on the initiatives page under: Support > Initiatives & Releases > C7 SCS Releases > C7 SCS Release 1.0 > System documentation > Functional Manuals. This list will be updated frequently during the simulation period.
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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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 |
