EurexOTC Clear: Introduction announcement of EurexOTC Clear Release 12.1

1.    Introduction

With this circular, Eurex Clearing announces the production launch of EurexOTC Clear Release 12.1 on Monday, 28 March 2022. In this context, further GUI enhancements to improve usability and report enhancements are expected as highlights of the Release. In addition, a simulation environment clean-up will be performed. Please see a detailed list of the changes that are part of EurexOTC Clear Release 12.1 in section 3.A. below.

The timeline for the new release is as follows:

Simulation start: 16 February 2022 
Production start: 28 March 2022

Learn now more about the EurexOTC Clear Release 12.1 (OTC Clear Release 12.1) on our dedicated initiative page under the following link: Support > Initiatives & Releases > EurexOTC Clear Releases > EurexOTC Clear Release 12.1. Circulars, timeline, Communication Calendar, Release Notes and much more information will be available there for you.

2.    Required action

Functions, services, and technical changes to be introduced with this release might have an impact on the internal processes of Clearing Members, FCM Clearing Members and their clients who clear EurexOTC Clear products (hereafter: EurexOTC Clear Members). Eurex Clearing notes that OTC Clear Release 12.1 is a minor release and will have a limited impact for EurexOTC Clear Members.

Therefore, it might be necessary for EurexOTC Clear Members to update their internal processes and technical interfaces (e.g. XSDs for EurexOTC Clear Reports, Eurex Clearing FpML Interface).

• In case of cooperation with back-office vendors, EurexOTC Clear Members should contact their third-party providers as soon as possible to ensure that the necessary adjustments can be made.

In order to improve the quality of the OTC simulation environment in advance of its upcoming release, Eurex Clearing will perform a structured clean-up of old trades in the simulation environment on Monday, 31 January 2022. Therefore, all trades captured before Wednesday, 3 January 2022 will no longer be available in the simulation environment. 

• Participants who wish to keep these trades, should send an e-mail with the subject “Clean-up of the simulation environment - excluded accounts” to the Key Account Manager (including Member ID and book) until Monday, 24 January 2022.
• Please check whether you have registered and/or updated your Release Contacts for EurexOTC Clear via the Member Section of Deutsche Börse Group, under Release Contacts.
• In parallel, please subscribe to EurexOTC Clear circulars and newsflashes on our subscription website under the following link in order to remain updated, as any communication regarding OTC Release 12.1 will only be distributed via circulars and newsflashes: Find > Subscriptions

3.    Details of the initiative

A. Changes to be introduced with EurexOTC Clear Release 12.1

• Further GUI enhancements to improve usability
• Report enhancements

Enhancements and changes are summarized below. Further, Eurex Clearing has provided a description of the changes in the Functional Release Notes of OTC Clear Release 12.1 that may be accessed via the Member Section under the following path:

Resources > Eurex Clearing > Documentation & Files > EurexOTC Clear > System documentation > Overview

All changes will be reflected via documentation updates and as well will be published according to the Eurex Clearing Member Communication Calendar. The updated documents as part of OTC Release 12.1 will be available in due time in the Member Section under the path mentioned above, under “System documentation”.

B. Overview of functional changes

Further GUI enhancements to improve usability

The GUI is enhanced to improve usability as follows:

• A new table with four Source System Fields will be added to the Portfolio Upload and the Portfolio Transfer Overview windows. It will provide the user with the possibility to select the Source System CM ID and the Source System Client ID while initiating or taking up a portfolio transfer.  
• In the Take-up for acceptance section of the Portfolio Transfer Overview window, a drop-down list is added to the Book field. The Take-up button will initially be inactive. It is activated once a book is selected.
• A new column "PTRR ID" (Post Trade Risk Reduction ID) will be added to the Trade Search Results Table and the Modify Table in the Cleared Trades window as well as to the download option "CSV". 
• The layout of the Deal Tickets will be adjusted to show the windows with the correct width. 
• The MC Sensitivity excel template as well as the Sensitivity Window in the MC-GUI will be updated (for more details, please see the Functional Release Notes).

Report enhancements

The reports of EurexOTC Clear will be enhanced as follows:

• A new field "PTRR ID" for OTC trades will be visible in Member reports and Trade Notification messages sent to Members. The new attribute will be part of all trade notification messages related to PTE and will be shown in the reports “Trade Novation Report” (CI200/CB200), “Trade Daily Summary Report” (CI201/CB201) and “Full Inventory Report” (CB202/CB207).
• The visibility of the curve points in the Curve Reports (CI210/CC210) will be extended in alignment with the current valid maximum allowed maturities of IRS.
• Static Data report CD298 will be enhanced with below new fields with possible values "Yes/No":
  • PTESynchronisation
  • TriOptimaEligible
• For OTC IRS Members, the following new netting reports will be introduced:
  • CI262, Netting Forecast House Report, XML
  • CI263, Netting Portfolio Forecast House Report, XML
  • CC264, Netting House Report, XML
  • CI273, Netting Portfolio Forecast House Report, CSV

For further details on the report enhancements, please refer to the EurexOTC Report Manual for OTC Release 12.1 which will be published by the end of January 2022 in the Member Section.

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 or FCM Clearing Conditions of Eurex Clearing AG, as applicable.

Further information