Securities Clearing: C7 Securities Clearing Service (C7 SCS) Release 4.0 - Production launch announcement

1. Introduction

With this circular, Eurex Clearing announces the production launch of the Release 4.0 of the C7 Securities Clearing Service (C7 SCS) on 18 November 2024.
 

Please also note that the new “GC Pooling Collateral Allocation Report (CE880/1/2)” will be activated in the production environment.

Production start: 18 November 2024

Learn now more about C7 SCS Release 4.0 on our dedicated initiative page on the Eurex Clearing website www.eurex.com/ec-en/ under the following link: Support > Initiatives & Releases > C7 SCS Releases > C7 SCS Release 4.0

System documentation, circulars, timeline and much more information will be available there for you.

2. Required action

A. Special and GC Repo Transactions executed in T2S eligible bonds with prefixes BE (Belgian), EU (Eurobonds), NL (Dutch) and XS (Eurobonds) can also be settled in T2S/CBF in the future. Clients who wish to use this enhancement will need to request the amendment of their settlement account setup for Eurex Repo accordingly.

B. A new optional field in reports for Eurex Repo business containing information about fund has been added, resulting in a change of the report structure. Therefore, report definitions must be adapted before release start.

The new values in C7 SCS reports CD85X and CE87X in context of the Pair-Off service will be activated in the course of C7 SCS Release 4.5.

Furthermore, the new GC Pooling Collateral Allocation report (CE880/1/2) will be distributed for the first time after release start, but due to internal consistency checks for production data, the first occurrence will be delivered to CRE on 19 November 2024.
 

3. Details of the update

A. Special and GC Repo Transactions executed in T2S eligible bonds with prefixes BE (Belgian), EU (Eurobonds), NL (Dutch) and XS (Eurobonds) can also be settled in T2S/CBF in the future. Clients who wish to use this enhancement will need to request the amendment of their settlement account setup for Eurex Repo accordingly. No action is required for Members who wish to continue with their existing settlement location

B. For Eurex Repo business reporting, a new optional field with information about fund will be added resulting in a change of the report structures in Repo Intraday Settled Trade Report, Repo Trade Confirmation Report and Repo Contracts Report. The fund related information is only relevant for Repo Asset Manager model and more details for the same will be published with business go-live of the Repo Asset Manager model. Eurex Repo customers must adapt their internal processing to be able to technically digest the updated report structure. The internal processing of Reports CI87X, TC80X and TC85X have to be verified. 

In addition, the new GC Pooling Collateral Allocation report will be provided per default for Eurex Repo Clearing Members and for Settlement Institutions participating in GC Pooling segment.

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