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T7 8.0 Simulation, Timeline for migration of Clearing Member Transaction Size Limits (TSL) and Assignment of Product Assignment Groups (PAG)

30 Sep 2019

T7 8.0 Simulation, Timeline for migration of Clearing Member Transaction Size Limits (TSL) and Assignment of Product Assignment Groups (PAG)

As described in the T7 8.0 Final Release Notes (chapter 6.10) and the T7 8.0 Derivatives Markets Participant and User Maintenance Manual (chapter 1.4.1) with T7 8.0 there is a change in the product assignment group logic.


With C7 Release 6.0, Clearing Member Transaction Size Limits (TSLs) for the DC Market Participants will cease to exist.


A new process in C7 will compensate for this and result in changes of Participant TSLs in T7:

  • Clearing Members (CM) will perform product assignment in C7
  • If a CM does not assign the products to its DC Market Participants, the TSL of that DC Market Participants in T7 will be set to null
  • Otherwise, Eurex defined TSLs on a product level will be applied
  • As consequence, all Product Assignment Groups are assigned to all Business Units
  • Trading in T7 is possible, when TSL of the Business Unit for that product are not null

The timeline for these changes in SIMULATION is as follows:


  • 23 September 2019:        C7 6.0 Simulation, Clearing Members can define which related Trading Participant is allowed to trade which products (product assignments)
  • 11 October 2019:             All Trading Participant’s business units in T7 will automatically get all Product Assignment Groups (PAGs) assigned
  • 16 October 2019:             T7 takes the product assignment information from C7. Transaction Size Limits (TSL) in T7 are set to null if no product assignment by the Clearing Member in C7 exists. Otherwise, Eurex defined TSLs on a product level will be applied

For further details, please consider this News Flash:  https://www.eurexchange.com/exchange-en/resources/circulars/circular-test-1635850

 

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