On Apr. 9, 2025, EUREX Clear newsflash reiterated C7 SCS 4.5 simulation start Apr. 14, 2025, advised on clean-up of pending delivery instructions in simulation environment.
All participants can familiarize themselves with new: pair-off service for hold/release status; pair-off transaction types; reports; urged use of simulation/review of new repo pending delivery report (CE865/6/7), re-rate modification request for special and GC repo (T+1) and changed repo interest amount payout (mandatory process change).
With start of simulation, the new repo pending delivery netting report (CE865/6) will be assigned and provided on the common report engine (CRE) for eligible members.
Changes due to pair-off service enhancements (hold/release status & new transaction types for pair-off) will be available as sample reports CE870 & CD850 by Apr. 17, 2025.
Instructions with settlement date before Jan. 1, 2025 will be no longer available.
On Jan. 22, EUREX Clear introduced C7 securities clearing service 4.5.
EUREX Clear announced launch of C7 securities clearing service (C7 SCS) release 4.5.
Follows Jun. 2025 EUREX Clear began C7 securities clearing service 4.0, see #216996.
Overview
With C7 SCS release 4.5, EUREX Clear will introduce an enhancement to the handling of delivery positions after Pair-Off service, also known as HOLD/RELEASED status.
Enable new values in C7 SCS reports indicating Pair-Off request results; and EUREX Clear will provide enhancements to reporting in case of late delivery over dividend.
Also, a new daily report, Repo Pending Delivery Netting Report (CE865/6/7) with pending deliveries after Settlement Date Netting for repo transactions.
As well as further functionalities for the Eurex Repo market also being provided.
Required Action
Re. enhancements to the handling of delivery positions after execution of Pair-Off service and reporting, customers may adapt internal processing based on additional information via reports, enhance their post Pair-Off processing for affected positions.
For enhanced calculation of late delivery fines, customers must check Daily Eurex Fines (CB225) report for data on changes due to event modification/partial settlement.
Regarding new Eurex Repo-related content, Eurex Repo clients will have possibility to gain information about new delivery instructions shortly after Eurex Clearing’s netting.
Repo Pending Delivery Netting Report (CE865/6/7) report will be available per default to all Eurex Repo Participants as clearing member and settlement institution version.
Customers including report data in internal processing must consider dedicated xml-schema files (.xsd), provided with C7 SCS 4.5 Report Reference Manual and Modification Notes; clients must also consider the change to re-rate modification request for Special and GC Repo as all re-rates will be applied on T+1 in future.
Also must include new solution to pay out the Repo Interest Amount at regular periods.
EUREX Clear explained that these will be implemented for Fixed repos and Variable Repo trades with a term greater than 12 months between front-leg and term-leg.
Must check if have registered and/or updated Release Contacts for C7 SCS via Member Section under tab Company Contacts; in parallel, must subscribe to EUREX Clear circulars and newsflashes; C7 SCS communication will only be distributed via these.
Effectiveness
C7 SCS release 4.5 simulation will start Apr. 14, 2025, production start Jun. 16, 2025.
A communication calendar for the release is included as an attachment to the circular.
Mar. 2025 Documentation Update
On Mar. 25, 2025, EUREX Clear said C7 SCS 4.5 documents will be published on the Eurex Clear website; on the same dedicated page other information will be available.
Available documents are: C7 SCS 4.5-Release Notes and Member Simulation Guide.
Eurex Clearing-C7 SCS XML Reports-Reference Manual; Modification Notes; XML Files.
Apr. 9, 2025 Updates
On Apr. 9, 2025, EUREX Clear newsflash reiterated C7 SCS 4.5 simulation start Apr. 14, 2025, advised on clean-up of pending delivery instructions in simulation environment.
All participants can familiarize themselves with new: pair-off service for hold/release status; pair-off transaction types; reports; urged use of simulation/review of new repo pending delivery report (CE865/6/7), re-rate modification request for special and GC repo (T+1) and changed repo interest amount payout (mandatory process change).
With start of simulation, the new repo pending delivery netting report (CE865/6) will be assigned and provided on the common report engine (CRE) for eligible members.
Changes due to pair-off service enhancements (hold/release status & new transaction types for pair-off) will be available as sample reports CE870 & CD850 by Apr. 17, 2025.
