22 Jun 2021
Eurex Clearing
Eurex Clearing Readiness Newsflash | Introduction of Equity Bespoke Baskets for Futures (EBB)
Dear Clearing Member,
With this Newsflash, Eurex Clearing informs of its intention to extend clearing services towards transactions resulting from Equity Bespoke Baskets for Single Stock Futures, Single Stock Dividend Futures and Stock Tracking Futures.
This extension of the existing trading functionality is envisaged to be launched in production on 26 July 2021 (subject to approval). The simulation environment is already available for testing.
This functionality is available on a trading entitlement basis to which participants can sign up for.
Clearing Members should consider the following readiness steps:
Trading Members and respective Clearing Members need to align on the process. Please note the entitlements are done on a trading level, however the form needs to be signed by the Clearing Member (to ensure clearing readiness). Interested Clearing Members can contact their Clearing Key Account Manager to obtain the onboarding form.
Please note, that the “opt-in” solution purely covers the trading side. Hence, there is a possibility that a Clearing Member can accept take-ups in a basket (or a transaction which is part of a basket) whilst not being technically ready to process this type of transactions. In order to mitigate this risk, we recommend Clearing Members and ISVs to implement controls on their side to prevent this from happening (e.g. set up a mechanism to auto reject such take-ups based on the “Package ID” field (FIXML tag 2489) which corresponds to “Basket ID”).
Transactions containing "Basket ID" can be found the following day in the following clearing reports:
- CB012 “Account statement”
- CB715 “Detailed Account statement”
- CB730 “Position Transfer Summary”
- CB750 “Give-Up Trades Overview”
- CB751 “Take-Up Trades Overview”
- CA752 “Capital Adjustment Position Overview”
- CB731 “Settling Futures Position Overview”
- CE775 “Notification/Allocation Information”
Learn now more about Equity Bespoke Baskets on our dedicated initiative page under the following link: Support > Initiatives & Releases > Projects > Equity Bespoke Baskets for Futures. System documentation, circulars, timeline and much more information will be available there for you
...and on the go via the personalized Eurex App.
We would also like to encourage you to participate in the simulation environment to ensure a smooth transition.
If you have any further questions or comments, please send an e-mail to: client.services@eurex.com.
Kind regards,
Your Client Services Team
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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 | |
Contact: | ||
Web: | Support > Initiatives & Releases > Projects > Equity Bespoke Baskets for Futures |
