Eurex Clearing Readiness Newsflash | C7 SCS Release 1.0: Tax certification of new CBF accounts; 2. Availability of Daily Eurex Fines Report (CB225) in Simulation

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. Tax certification of new CBF accounts

As described in Eurex Clearing Circular 040/21, Clearing Members currently using CBF-i settlement accounts for deliveries resulting from futures notification/allocation for Italian bonds must ensure the proper certification with Clearstream Banking Frankfurt (CBF) prior to the introduction of C7 SCS Release 1.0, in particular if they are exempted from the Italian withholding tax.

Please note that C7 SCS will use the same CBF settlement account that is used for German Bonds settlement according to the current CSD selection sheet also for future Italian Bonds settlement processing. Therefore, the Italian tax information must be provided for this CBF account.

In case Clearing Members plan to assign a deviating CBF account dedicated to use for Eurex deliveries, this change must be requested via the CSD selection sheet and aligned with the client’s KAM. As with C7 SCS, the same settlement account is used for settlement of bonds in Collective Safe Custody (CSC) in EUR, this newly assigned CBF account will apply for German, Italian, French and Spanish bond deliveries. Italian tax information must consequently then be provided for this new CBF account.

2. Availability of Daily Eurex Fines Report (CB225) in Simulation

The billing report CB225 (Daily Eurex Fines Report) as part of C7 SCS Release 1.0 is already available in the Simulation environment. As usual, the report has been delivered to the Common Report Engine (CRE) for Clearing Members to retrieve it.

The structure of this report was published with all the other C7 reports. The following three documents are important to get an overview of its structure:

• Eurex Clearing XML Reports - Modification Notes (C7 Release 8.0)

This document provides an overview of the enhancements and changes to the C7 XML Reports as compared to the previous version.

• Eurex Clearing XML Reports - Reference Manual (C7 Release 8.0)

This Manual provides the XML Report descriptions for Eurex Clearing's C7.

• Eurex Clearing XML Reports – XML Schema Files v.8.0.0 (C7 Release 8.0)

This package contains the reports xsd files for Eurex Clearing's C7.

All these documents can be found on the C7 Initiatives Page under the following link:

Support > Initiatives & Releases > C7 Releases > C7 Release 8.0 > System Documentation > Reports  

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

Kind regards,
Your Client Services Team
 

How to keep up with news? Get the latest Eurex updates fast and easy using: Eurex App, LinkedIn, YouTube, or visit our website.