Equity Bespoke Baskets for Futures

Equity Bespoke Basket (EBB), formerly known as Equity Basket Trades (EBT), is an expansion of existing Basket for Total Return Futures (BTRF) functionality for other products. In this phase, Eurex introduced the following products to the existing EBB functionality: single stock futures (SSF), single stock dividend futures (SSDF) and stock tracking futures (STF).

EBB is based on an opt-in functionality in T7 trading system, which is only available for Clearing Members with corresponding entitlement.

A basket functionality already exists for BTRF whereby multiple contracts could be traded as a package
Baskets are maintained on a gross basis
These baskets contain a unique FIXML identifier (Basket ID)

Simulation start: 10 May 2021
Production start: 26 July 2021

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Eurex Clearing Readiness Newsflash | C7 Introduction of Equity Bespoke Baskets for futures (EBB)

Participants Requirements

Changes	Details	Action Item
Equity Bespoke Baskets (EBB) for futures	FIXML new fields: PackageID reflects the Basket ID (FIXML tag 2489) and will become a key field. FirmTrdID reflects the Bank’s Own Reference ID (FIXML tag 1041). This field will not be kept in C7 clearing system at position level, but only at the trade level. This optional field is envisaged to be used for search purposes or internal reconciliation. Impacted clearing reports: CB012 “Account statement” CB715 “Detailed Account statement” CB730 “Position Transfer Summary” CB750 “Give-Up Trades Overview” CB751 “Take-Up Trades Overview” CA752 “Capital Adjustment Position Overview” CB731 “Settling Futures Position Overview” CE775 “Notification/Allocation Information”	This is an optional functionality and Clearing Members can opt-in by signing the entitlement form which can be obtained from their Clearing Key Account Manager. Please note this “opt-in” entitlement does not cover trade give-ups/take-ups. There is a risk of a Clearing Members giving up a basket trade to another Clearing Member who is not prepared to handle basket trades. In order to mitigate this risk, we recommend Clearing Members and ISVs to introduce internal controls on their side (e.g. set up a mechanism to auto reject such take-ups based on Package ID). Clearing Members who wish to start clearing EBB, will need to make the necessary implementations on their back office systems and FIXML interfaces, as well as in the reporting tool.

Changes

Details

Action Item

Equity Bespoke Baskets (EBB) for futures

FIXML new fields:
PackageID reflects the Basket ID (FIXML tag 2489) and will become a key field.

FirmTrdID reflects the Bank’s Own Reference ID (FIXML tag 1041). This field will not be kept in C7 clearing system at position level, but only at the trade level. This optional field is envisaged to be used for search purposes or internal reconciliation.

Impacted clearing reports:

CB012 “Account statement”
CB715 “Detailed Account statement”
CB730 “Position Transfer Summary”
CB750 “Give-Up Trades Overview”
CB751 “Take-Up Trades Overview”
CA752 “Capital Adjustment Position Overview”
CB731 “Settling Futures Position Overview”
CE775 “Notification/Allocation Information”

This is an optional functionality and Clearing Members can opt-in by signing the entitlement form which can be obtained from their Clearing Key Account Manager.

Please note this “opt-in” entitlement does not cover trade give-ups/take-ups. There is a risk of a Clearing Members giving up a basket trade to another Clearing Member who is not prepared to handle basket trades.

In order to mitigate this risk, we recommend Clearing Members and ISVs to introduce internal controls on their side (e.g. set up a mechanism to auto reject such take-ups based on Package ID).

Clearing Members who wish to start clearing EBB, will need to make the necessary implementations on their back office systems and FIXML interfaces, as well as in the reporting tool.

Contacts

Eurex Frankfurt AG
Customer Technical Support / Technical Helpdesk

Service times from Monday 01:00 – Friday 22:00 CET
(no service on Saturday and Sunday)

Please contact your Technical Account Manager via your personal VIP number which can be found in the Member Section.

T +49-69-211-VIP / +49-69-211-1 08 88 (all)

cts@deutsche-boerse.com

Eurex Frankfurt AG
Key Account Management

Service times from 09:00 - 18:00 CET

client.services@eurex.com

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Equity Bespoke Baskets for Futures

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