Eurex Clearing Readiness Newsflash | T2-T2S Consolidation: Further information about Simulation testing

Dear Clearing Member,

As previously mentioned in Eurex Clearing Readiness Newsflash from 30 May 2022, simulation testing phase for T2-T2S Consolidation has been started since 1 June 2022. During this phase, the execution of penny tests (at minimum one credit and one debit AS transfer) was carried out per each Clearing Member’s RTGS Dedicated Cash Accounts (DCAs) participating in Eurex Clearing’s Settlement Bank Account Group. The relevant information was provided in advance to Clearing Members to make the testing process smoother, and members confirmed the receival of credit and debit transfer by providing camt.054 messages generated by T2 in response to Eurex Clearing’s AS transfers. Clearing Members are also encouraged to interact with Eurex Clearing’s Simulation Environment with production-like data during the testing period.

The testing of Eurex Clearing invoices and fees initiated manually by Eurex Clearing will start approximately in mid of September 2022 opposed to the previously announced date of mid of August 2022. With this newsflash, further information regarding this testing process is provided. Participation of Clearing Members in this testing phase is mandatory.

The invoice and fee testing are scheduled to take place on 13 September and 15 September 2022. Re-testing of failed tests will presumably be arranged between 20 September and 23 September 2022, with possible further re-testing in exceptional cases until 14 October 2022.

All Clearing Members will receive two arbitrary test invoices for the month of August 2022 of invoice type "CCP" with position text "FEE - T2T2S SIMULATION". One invoice will show a credit amount between €3.00 and €5.00 (individual amount per Clearing Member); the other invoice will show the same amount as debit. Both fee payments (credit and debit) will be booked in T2 UTEST on the same day via AS Transfer (pain.998) with counterparty EUXCDEFFASI on the RTGS DCAs provided by the Clearing Members for fee settlement. The Clearing Members' RTGS DCAs used for fee testing must be participants of Eurex Clearing's Settlement Bank Account Group "DESEUXCDEFFASI-EUREX-CLEARING-AG" in UTEST to enable testing.

All Clearing Members will be informed about the specific date, time, and amount of their tests in advance via email. The test invoices will be disseminated via the same channel. Eurex Clearing will confirm the successful settlement of all fee test payments via T2 UTEST GUI and pain.998 ASIS confirmation messages. Clearing Members are encouraged to also confirm the successful settlement themselves via camt.054 (if subscribed) or T2 GUI.

Learn now more about T2-T2S Consolidation on our dedicated initiative page under the following link: Support > Initiatives & Releases > Project Readiness > T2-T2S Consolidation. System documentation, circulars, timeline and much more information will be 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

Visit the Next Generation ETD Contracts webpage for all your Clearing and Trading content!