Introduction of C7 SCS Release 1.2

1.  Introduction

With this circular, Eurex Clearing announces the production launch of C7 SCS Release 1.2, which is scheduled for Monday, 13 June 2022. The simulation environment is planned to be available from 20 May 2022.

Simulation start: 20 May 2022
Production start: 13 June 2022

Learn now more about C7 SCS Release 1.2 on our dedicated initiative page under the following link: Support > Initiatives & Releases > C7 SCS Releases > C7 SCS Release 1.2. System documentation, circulars, timeline and much more information will be available there for you.

2.  Required action

Members should review documents that will be made available under below link, to assess the impact on their internal report processing to ensure that required changes and adjustments are done in due time. 

C7 SCS Release 1.2 initiative page > System documentation – Reports: 

• Eurex Clearing – C7 SCS XML Reports – Modification Notes
• Eurex Clearing - C7 SCS XML Reports – Reference Manual
• Eurex Clearing – C7 SCS XML Reports – XML Schema Files

3.  Details of the initiative

A. Introduction of two new additional optional fields

With C7 SCS Release 1.2, the Net Clearing Report – XEUR (CE890/1/2) and the Net Clearing Report - XETR and XFRA (CE895/6/7) will be enhanced by two additional optional fields. However, the fields are only a preparatory step for a new optional C7 SCS netting service: Optimised Trade Day Netting (OTDN).

The OTDN service for Deutsche Börse Cash Markets (Xetra and Börse Frankfurt) enables General Clearing Members (GCMs) to net between several DC Market Participants and therefore significantly reduce the overall amount of settlement instructions resulting from all trading activity under the respective GCM.

The new fields will always be omitted until the OTDN service is launched and unless a client opts for it. Further details about OTDN’s activation timeline and its mechanisms will follow in due time.

The two new additional optional fields are the following: 

• Original Member ID (field tag: membTrdngIdCodOrig): This field is filled if the Trading Member is considered for Optimized Trade Date Netting. It contains the Trading Member ID under which the original Trading Member is known in the Clearing House. This field is only filled for Single Trades. Please note: This field will always be omitted until the Optimized Trade Date Netting service is launched.
• Original Account Type (field tag: acctTypOrig): This field contains the original account type as provided by trading location XETR or XFRA if the Trading Member is considered for Optimized Trade Date Netting. This field is only filled for Single Trades. Please note: This field will always be omitted until the Optimized Trade Date Netting service is launched.

B. Reclassification of mandatory fields to optional fields

Several fields in both the Pending Delivery Report (CE860/1/2) and the Settled Delivery Report (CE870/1/2) that are currently mandatory will be reclassified as optional. Those fields will be omitted, if the deliver ID (field tag: dlvId) is reported with value “NA”. The affected fields are listed in the Modification Notes.

C. Adjustment of Header Lines in all C7 SCS XML reports

The Header Lines in all C7 SCS XML reports as well as schema (XSD) files will be changed from the currently used link http://www.eurexchange.com/technology to the updated one http://www.eurex.com/ec-en/support/initiatives/c7-scs-releases.

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