Reporting of cleared Securities Financing Transactions (SFTs) by Eurex Clearing according to the SFT Regulation Article 4: Updated Member Information 1.5

1.  Introduction   

Eurex Clearing has been reporting securities financing transactions according to Article 4 of the Securities Financing Transactions Regulation (SFTR) since July 2020.

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 these data fields. The Member Information document provides an overview of how the CCP populates its data fields in order to enable Clearing Members to match the data. 

Besides minor adjustments and few editorial changes, the updated Member Information document version 1.5 contains the following amendments related to the SFTR reporting logic which are planned to come into effect as of 29 April 2022:

• Additional details complementing population logic for Field 78: Identification of a security used as collateral
• Additional details complementing population logic for Field 83: Collateral quantity or nominal amount
• Additional details complementing population logic for Field 88: Collateral market value
• Additional details complementing population logic for Field 96: Collateral basket identifier
• Inclusion of the updated reporting logic for Settlement Fails

In case of deviation from the aforementioned go-live date, a Newsflash will be published specifying the new go-live date.

Furthermore, the following amendments related to C7 SCS Release 2.0 and Collateral Mobility Project from Clearstream (i.e., migration of Collateral Management services for GC Pooling from Xemac to CmaX) will come into effect as of 24 October 2022: 

• TC750 Repo Contracts report will be replaced with TC850 report
• TC100 Repo Trade Confirmation report will be replaced with TC800 report
• Collateral Management for GC Pooling will be supported by Clearstream Banking
  Luxembourg’s system CmaX while underlying accounts with both Clearstream Banking
  Luxembourg and/or Clearstream Banking Frankfurt can be used. Clearstream Banking
  Frankfurt will no longer be a Tri-party Agent for GC Pooling Repos.

For more information on Eurex Clearing's regulatory reporting please visit our dedicated Support page on www.eurex.com/ec-en/ under the following link: Support > Regulation > Regulatory Reporting. Documentation, circulars, timelines and more is available there for you.

For more information on Eurex Clearing's regulatory reporting please visit our dedicated Support page on www.eurex.com/ec-en/ under the following link: Support > Regulation > Regulatory Reporting. Documentation, circulars, timelines and more is available there for you

2.  Required action

Clearing Members are asked to read the new version 1.5 of the Member Information, which contains the most recent amendments of Eurex Clearing’s SFTR reporting logic.

3.  Details of the initiative

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

Non-editorial changes to the Member Information document are highlighted in green.
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.

The Document “Reporting of cleared SFTs by Eurex Clearing according to SFTR Article 4”, version 1.5, is also available for download in the Member Section of Deutsche Börse Group under the following link:

Member Section > Resources > Eurex Clearing > Documentation & Files > Reporting Basel III_CRR, EMIR, SFTR > SFTR Reporting

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

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.

Attachment:

• Member Information – Reporting of cleared SFTs by Eurex Clearing according to SFTR Article 4, version 1.5 

Further information