Member Section Release December 2023

1.  Introduction

With this circular, Eurex Clearing announces the introduction of the next Member Section enhancements: Member Section Release December 2023, which will be available starting Monday, 11 December 2023.

The following changes and enhancements will be introduced with Member Section Release December 2023:

• Default Management Process (DMP) Coordinator Maintenance & Update
• Distribution of ESG Portfolio Assessment
• New Clearing Contact Category
• Decommissioning of Qualified Clearing Staff exams

Production start: 11 December 2023

All information related to this release, i.e. FAQs, guides, tutorial videos, are available on the Eurex Clearing website www.eurex.com/ec-en/ under the following path: Support > Initiatives & Releases > Member Section Releases > Release December 2023. 

2.  Required action

All Member Section users are requested to get familiar with the updates described below.

3.  Details

Overview of functional enhancements:

Default Management Process (DMP) Coordinator Maintenance & Update

With respect to the Default Management Process (DMP), Eurex Clearing foresees, according to the Clearing Conditions of Eurex Clearing AG, Chapter I Part 1, 7.5 (4), that each Clearing Member shall appoint at least one DMP Coordinator and one DMP Deputy, who will act as central contacts for all general matters related to the DMP of Eurex Clearing. This will allow a streamlined and efficient DMP-related communication.

Clearing Members are kindly asked to

• review on a regular basis the contact details for the DMP Coordinator and the DMP Deputy within the Company Contacts section in the Member Section

• update (i) contact details, (ii) DMP Coordinator/DMP Deputy assignments, including Liquidation Group responsibilities in the Company Contacts, as indicated by the Member Section tasks

For details, please refer to the DMP Coordinator/Deputy guide. 

Distribution of ESG Portfolio Assessment

The Eurex Clearing ESG Reports will be available via the Member Section to provide an additional channel to access the Daily Collateral Climate Metrics (00RPTCDESG) report which has been available via the Common Report Engine (CRE) for Clearing Members and individually segregated clients since 3 April 2023 (Eurex Clearing Circular 012/23).

Access to the ESG Portfolio Assessment reports through the Member Section will provide easier access to staff at Clearing Members and individually segregated clients, who do not directly interact with the clearing back-office, to obtain the data.

To access the reports, users will need the new permission “Eurex Clearing ESG Reports”.

Eurex Clearing Central Coordinators and Eurex OTC Central Coordinators will automatically be granted the new permission “Eurex Clearing ESG Reports” to access the reports, without further action on their part. They will also be able to assign or to revoke this permission for other users. Additional users can request the new permission in the Member Section. All users with this permission will receive a weekly e-mail informing them on the availability of the reports. The report will be available daily.

Details with regards to the metrics, aggregation of data on portfolio level as well as the structure and field definitions of the report (Daily Collateral Climate Metrics (00RPTCDESGABCFRYYYYMMDDYBCFR.CSV) are available in the Eurex Clearing ESG Portfolio Assessment Manual on the Eurex Clearing website www.eurex.com/ec-en/.

If you do not have access to the Member Section yet, please follow these instructions:

Please click here to register for the Member Section. Please enter your Member ID and corporate e-mail. 

Supporting information regarding the registration process can be found here: Member Section Support.

In case of any questions with regards to access to the Member Section or permissioning requirements, please contact your Clearing Key Account Manager or member.section@deutsche-boerse.com.

Decommissioning of Qualified Clearing Staff (QCS) exams

With the December 2023 Release, the QCS exams will be decommissioned. Decommissioning of the QCS exams simplifies the admission process for QCS applications. Users will no longer be able to book a QCS exam within the Member Section. Previously passed QCS exams will remain valid and be accepted as proof of sufficient qualification to perform the respective roles. Individuals who have not previously passed the exam can be admitted by providing a confirmation of their sufficient qualification submitted by their Compliance Officer.

New Clearing Contact Category

Today, Clearing Members can only record the Clearing Contacts for securities clearing in generic form and are not able to distinguish between the responsibilities of different operations contacts.

With this Release, Clearing Members will be able to record Securities Clearing Contacts specifically for Late Trade handling, such as buy-in and cash settlement, as well as for corporate action matters. The previous option of a generic Securities Clearing Contact for all other matters remains.

The clearer distinction between the responsibilities of the individual Clearing Contacts enables a faster, more targeted flow of communication.

Clearing Members are asked to review and maintain their Securities Clearing Contacts in the new categories “Securities Clearing - Late Trades handling” and “Securities Clearing - CorpActions handling” on a regular basis.
 

Unless the context requires otherwise, terms used and not otherwise defined in this circular shall have the meaning ascribed to them in the Clearing Conditions or FCM Clearing Conditions of Eurex Clearing AG, as applicable.
 

Further information