Eurex Clearing’s Gross Delivery Management (GDM) system provides Clearing Members with a host of functionalities for transaction management. Members can track the delivery status of cash securities transactions, to (partially) release or block transactions for delivery as well as to give specific and individual settlement instructions.

• Eurex Clearing provides a host of information (from time of registration until settlement) on a gross trade basis and trade day netted basis.
  
• The CCP performs Corporate Actions on pending transactions.
  
• Optional management for settlement is available.
  

The six key components of Eurex Clearing’s Gross Delivery Management

Blocking and release/partial release of transactions

In order to help reduce the incidence of ‘fails’, Eurex Clearing facilitates blocking and releasing of sell transactions that have not yet been settled. The Settlement Institution or Clearing Member is able to block (to exclude the transaction from settlement) or release either the whole transaction quantity or only part of it.

It is possible to partially release sell transaction in order to settle the released quantity in the upcoming settlement run.

Inquiry of transactions

For all non-settled transactions, inquiry of that transaction is possible. You’ll receive the following information about transactions to provide you with a fuller picture of your transaction status:

• Settlement information — this includes the settlement status on a Eurex Clearing — Clearing Member level (pending, settled, late or closed) as well as information about the processing method of a transactions, i.e. marked for gross or net processing
  
• Release status — the release status on a Clearing Member — Customer is shown, i.e.
  • For buy trades: pending, manually linked, automatically linked or settled
    
  • For sell trades: blocked, released, partially released, manually linked, automatically linked or settled
    
  
  

Reporting

Eurex Clearing provides a variety of reports to ensure optimal back-office processing

Linking of transactions

Within Gross Delivery Management, transactions can either be manually or automatically linked. This facility is available for transactions that are subject to settlement netting. Linked transactions are automatically sorted into the offsetting block, are guaranteed to be final on the settlement day and cannot be blocked.

Marking transactions for gross and net processing

This functionality is available for both sell and buy transactions. Transactions can be marked by a gross flag for gross processing either by default or on a single transactions basis providing you with further flexibility. Transactions marked for gross processing are therefore not considered in the settlement netting process. For these transactions, the delivery process is performed on a gross process.