Nov 13, 2024
Eurex Clearing
Eurex Clearing Readiness Newsflash | CCP: Change of custody type for Irish ISINs
Dear customer,
With this Newsflash, Eurex Clearing wants to draw your attention to the custody type change of the Irish ISINs traded on Xetra and Börse Frankfurt or acting as underlying ISIN for Eurex Options and Futures from NCSC to CSC.
Clearstream will activate the OneClearstream service for Irish securities issued by Euroclear Bank and therefore, those securities will be eligible in Clearstream Banking AG (CBF). Irish ISINs issued by Euroclear Bank will become eligible for settlement in CBF-T2S with the Non-Collective Safe Custody settled via T2S (NCSC-T) status as of 25 November 2024.
Please note that settlement instructions pending in Creation on the date of conversion after settlement cut-off will be cancelled by Eurex Clearing and will be re-instructed for settlement at CBF.
Trades concluded after the conversion will be instructed for settlement in CBF with custody type NCSC-T. For trades settling currently in Euroclear UK and International, their settlement will continue to be in Euroclear UK and International.
It is also important to note that physical deliveries in Irish shares resulting from Eurex Options in Product Group IE11 or from Eurex Futures from Product Group IE14 continue to settle via Euroclear UK and International Ltd. (EUI, “CREST”), like today.
For further details, please refer to the OneClearstream rollout documentation, updated on 12 August 2024 and to C24043 issued on 18 October 2024 and to D24036, issued on 2 October 2024.
Kind regards,
Your Client Services Team
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Recipients: | All Clearing Members, ISA Direct Clearing Members, Disclosed Direct Clients of Eurex Clearing AG and vendors | |
Target groups: | Middle + Backoffice, IT/System Administration, Auditing/Security Coordination | |
Contact: | client.services@eurex.com | |
Web: | www.eurex.com/ec-en/ |
