Prisma Release 15.0 prepares for the upcoming Prisma Bond and Repo portfolio margining (BPM) offering, pending regulatory approval (see Eurex Clearing Circular 077/24).
The Cloud Prisma Margin estimator (CPME) updates in Release 15.0 will allow margin forecasts for bond/repo portfolios using "RBM" initially, with "PRISMA" added later. A new Supplementary Margin add-on enhances transparency on margin concentration.
Simulation start: 02 September 2025
Production start: 10 November 2025
The Prisma system documentation will be available in the Member Section under the following path: Resources > Eurex Clearing > Documentation & Files > Eurex Clearing Prisma > Release Documents > Document & Circular > Documents Release 15.0.
Circulars
Release Items/Participants Requirements
Changes | Details | Action Item |
Cloud Prisma Margin estimator (CPME) Enhancements | The CPME will be updated to improve transparency on margin concentration. A new SUMMC add-on, which calculates SUMA for OTC IRS, will be integrated into CPME's Initial Margin (IM) and Liquidation Group Split calculations. This will give members direct visibility into margin concentration SUMA amounts. The CPME GUI will be launched technically before its functional launch. During this period, users can choose between RBM and PRISMA methodologies. Initially, results will only be shown using the existing RBM methodology. | Please visit the Eurex Clearing Margin Calculators section to explore detailed information on sophisticated margin replication and calculation. |
New Report CD085 | The new report will offer additional details to assist clients in determining the Default Fund. It will also improve transparency on Credit Stress Testing results and model performance by displaying:
More information is available in the Report reference manual. | We kindly ask all Clearing Members to adjust their systems and internal processes to support the changes in member reports. |
Changes to existing Reports | Report CC711: For Members who opt in for BPM, Bonds will be excluded from this report and will be available in report CP011. This report covers these BPM items. This report will remain unchanged for Members who do not opt in for Bond Portfolio Margining (BPM). Report CP011: This report shows the current liquidating margin in both product and clearing currency at the ISIN level for Bond Portfolio Margining (BPM) instruments. It enables customers to recalculate their CLM requirements. Bonds will be visible only in case BBPM is activated More information is available in the Report reference manual. | We kindly ask all Clearing Members to adjust their systems and internal processes to support the changes in member reports. |
Are you looking for information about a previous initiative? We have stored information about our previous initiatives in our Archive for you!
Contact
Eurex Frankfurt AG
Key Account Management
Service times from 09:00 - 18:00 CET
