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ETF settlement: Change of settlement structure for ETFs of Vanguard Funds Plc

Release date: 28 Oct 2019 | Eurex Clearing

No. 098/2019 ETF settlement: Change of settlement structure for ETFs of Vanguard Funds Plc

Eurex Clearing Circular 098/2019

1. Introduction

Effective 11 November 2019, Vanguard Funds Plc will convert their Exchange Traded Funds (ETFs) traded on Xetra (MIC: XETR) and Börse Frankfurt (MIC: XFRA) to the International Central Securities Depository (ICSD) model.

2. Required action

There is no action required for the participants.

3. Details

The migration consists of 37 ETFs as listed in the attachment to this circular. Following successful conversion, shares of these ETFs will be held in non-collective safe custody (NCSC).

All converting ETFs will remain CCP-eligible. Settlement of converted ETFs will take place on a Clearstream Banking Frankfurt International (“CBF-I”) 6-series account with settlement location “CBL”. The settlement account of Eurex Clearing will be “67525”.

Please refer to Xetra circular 074/19 for further information related to adjusted settlement structure for the ETFs listed in the attachment.

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 of Eurex Clearing AG.
 

Attachment:

  • Converting ETFs

Recipients:

All Clearing Members, Basic Clearing Members, Disclosed Direct Clients of Eurex Clearing AG and vendors

Target groups:

Front Office/Trading, Middle + Back Office, IT/System Administration, Auditing/Security

Contact:

Clearing Operations, T +49-69-211-1 12 50, clearing@eurexclearing.com

Related circular:

Xetra circular 074/19

Authorized by:Heike Eckert