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Eurex Clearing Readiness Newsflash | CCP: Reporting of cleared Securities Financing Transactions (SFTs) by Eurex Clearing according to the Securities Financing Transactions Regulation (SFTR) Article 4: Updated Member Information 1.1 available

Release date: 03 Mar 2020 | Eurex Clearing

Eurex Clearing Readiness Newsflash | CCP: Reporting of cleared Securities Financing Transactions (SFTs) by Eurex Clearing according to the Securities Financing Transactions Regulation (SFTR) Article 4: Updated Member Information 1.1 available

Eurex Clearing Readiness Newsflash

Dear Clearing Member,

In April 2020, the obligation to report securities financing transactions according to Article 4 of the Securities Financing Transactions Regulation (SFTR) will come into effect.

Since both counterparties of a cleared SFT (CCP and Clearing Member) must report and since data fields have to be identical (such as Unique Transaction Identifier, Counterparty data, Loan and Collateral data, Margin and re-use data), it is important that the CCP and its Clearing Members use the same methods to create the data fields.

The document “Reporting of cleared Securities Financing Transactions (SFTs) by Eurex Clearing according to SFTR Article 4” provides an overview of how the CCP will populate its data fields to enable the Clearing Members to match the data with their reporting. 

Please note: Reporting is still subject to further guidance by ESMA or industry alignment. Any further changes will be communicated by Eurex Clearing circulars or newsflashes.

We are providing this document for the preparation of regulatory reporting according to SFTR, considering the SFTR Guidelines published by ESMA on 6 January 2020.

Besides few editorial changes the following information and SFTR data fields have been amended in our reporting logic:

  • New contact for SFTR questions is sftr@eurexclearing.com
  • Eurex Clearing will start reporting under SFTR as of 11 April 2020  
  • Reporting of Reverse Securities Loans as Repo has been confirmed by ESMA

Loan and Collateral data

  • Field 16: Minimum Notice Period
  • Field 17: Earliest Call-back date
  • Field 22: Termination optionality
  • Field 49: Security Price
  • Field 50: Price currency
  • Field 57: Market Value
  • Field 78: Identification of a security used as collateral

Margin reporting

  • Field 16: Excess collateral posted (to comply with ESMAs requirement to report pre-haircut collateral values)

Lifecyle events for repos

  • Full closing of open term repos

Lifecyle events for securities lending transactions

  • Change in Rebate rate
  • Changes in Lending Fee rate
  • Mark-to-Market
  • Full closing of open term loans
  • Reorganisations

If you have any questions or require further information, please contact the Eurex Clearing CCP Helpdesk under: sftr@eurexclearing.com. 

Attachment:

  • Member Information, version 1.1: Reporting of cleared SFTs by Eurex Clearing according to SFTR Article 4

Kind regards,
Your Client Services Team

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Eurex Clearing is part of Eurex Group. Find out more here.


Recipients:All Clearing Members, Basic Clearing Members, Disclosed Direct Clients of Eurex Clearing AG and vendors 
Target group:Middle + Backoffice
Web:www.eurexclearing.com
Contact:Eurex Clearing CCP Helpdesk, sftr@eurexclearing.com