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EurexOTC Clear Release 9.0

EurexOTC Clear Release 9.0

Eurex Clearing plans to introduce the EurexOTC Clear Release 9.0 on Monday, 3 December 2018. The enhancements will be available in the simulation environment starting Wednesday, 17 October 2018. With Release 9.0, it is planned to expand the EurexOTC Clear Service for all products.

The EurexOTC Clear GUI will be enhanced with an additional field for the internal trade ID. Thereby, Clearing Members will be able to see and maintain the "Internal RC Trade Id" for Registered Customers and the “Internal CB Trade Id” for Clearing Brokers (for Registered Customers, the column „Internal CB Trade Id“ will be empty).

With Release 9.0, the netting criteria for Variable Notional Swaps (VNS) will be relaxed: by softening the restriction, also non-VNS shall be netted with VNS, however only VNS with Netting Levels 1 and 2 qualify, as before.

The current novation buffer logic that covers all asset classes will be enhanced to include an OTC-specific component that cannot be consumed by changing margin requirements stemming from non-OTC business. In line with the current process, the novation buffer will be set by Eurex Clearing at its sole discretion. Clearing Members may request the OTC-specific novation buffer to be changed (e.g. to be set to zero on account level), but any such change will be subject to Eurex Clearing’s prior approval.

As announced by the European Money Markets Institute (EMMI), the Euribor® Fixings 2W, 2M, 9M will be decommissioned this year. These changes are relevant for EurexOTC IRS Members and OTC Currency Product Members.

Please also consider that Eurex Clearing will move payment services to the C7 architecture to reduce infrastructure complexity with the C7 Release 4.1. This migration will have an impact on cash reports provided to Eurex Clearing’s clients. The existing report CD010 will be replaced with the new CD710 reports which will be made available in three formats: print version, xml and csv. Further details will be communicated via separate Eurex Clearing circulars regarding the C7 clearing system.

If you have any questions or require further information, please contact your dedicated Group Client Key Account Manager Clearing or send an email to customer.readiness@eurexclearing.com.

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