EurexOTC Clear Releases

Automated Position Offset Function through Trade Entry API

The automation of position offset function will be introduced allowing clients to send a request via Approved Trade Source (ATS) and receive the trade economic details of their open trades at Eurex which they wish to offset by sending corresponding offsetting trades.

With the go-live, this functionality will be enabled by default for all Clearing Members and their clients.
If Clearing Members or their clients desire to disable this feature, they can do so by contacting their Clearing Key Account Manager or the Onboarding team.

Introduction of Trade Refactoring Compression

TriOptima portfolio compression services will be enhanced to support Trade Refactoring compression algorithm allowing the residual trades with not only the changes in trade revision (notional, coupon, spread, direction), but also changes in the start and the end date of the trade.

There is no action required.
For more information, we kindly ask Clearing Members to contact TriOptima.

A new field 'UPI' for OTC trades

The new optional field 'UPI' will be introduced, which will be provided by Approved Trade Source (ATS). Eurex will include the field information in Trade Notification messages and reports with the format of 12-character alphanumeric code. This field will result in changes to EurexAPIXML XSD and Report XSDs.

Clearing Members should evaluate the impact of consuming new trade notification messages and member reports.

Report Changes

The following report changes will be made in the reports of EurexOTC Clear:

• Addition of all product extension specific information due to the Introduction of OIS on DKK-DESTR (Denmark Short-Term Rate) in several reports
• New field “UPI” in Trade Novation Report (CI200, CB200) and Trade Daily Summary Report (CI201, CB201)
• New “TradeOffsetting” field in CD298 report with the implementation of Automated Position Offset functionality

We kindly ask all Eurex Clearing Members to ensure that the relevant report changes are reflected in their internal processes.

GUI Changes

The following enhancements will be implemented in MC GUI: 

• Several enhancements to support the clearing of OIS trades on the Danish DKK-DESTR index   

• Clearing Eligibility Checker to support VIRS and ZCFA trades validation 

• Increase in the number of Initial Margin parallel requests up to 20 requests 

• Enhancement of the mapping of the optional field RollMethod 

The following enhancements will be implemented in OTC GUI:  

• A new Cashflow window in the OTCClear GUI  

• The enhancement of Trade Amendment functionality  

• The enhancement of the Netting Parameter window  

• A new field “UPI” in the Deal ticket  

• The enhancement of the mapping of the optional field RollMethod in the MC download file 

With the introduction of two account parameters in the netting Parameter window, the new fields will be set to “Y” by default. The clearing members can disable the parameters if they wish so.     

There is no other action required for GUI changes. 

API Changes 

The following enhancements will be implemented in API modules: 

• Increase in the number of Initial Margin parallel requests up to 20 requests via MC API 

• Enhancement of Trade Entry API with the introduction of the new field 'UPI' for OTC trades 

• Implementation of Automated Position Offset function through Trade Entry API 

• DKK-DESTR (Denmark Short-Term Rate) Reference Rate Development in Trade Entry API and MC API 

• Validation of the “sender” element within the MarginCalculatorAPIXML Ping Request on MC API

• Validation of the “sentBy” element within the EurexAPIXML Ping Request on FpML- API

We kindly ask all Eurex Clearing Members to ensure that relevant API changes are reflected in their internal processes.