EurexOTC Clear: Production launch announcement of EurexOTC Clear Release 15.0

1. Introduction

With this circular, Eurex Clearing would like to announce the production launch of EurexOTC Clear Release 15.0 (OTC Release 15.0) on Monday, 3 July 2023. All EurexOTC Clear Members are affected by the introduction of OTC Release 15.0.

Production start: 3 July 2023

Learn now more about the EurexOTC Clear Release 15.0 on our dedicated initiative page under the following link: Support > Initiatives & Releases > EurexOTC Clear Releases > EurexOTC Clear Release 15.0. System documentation, circulars, timeline and much more information is available there for you.

2. Required action

The functions and services introduced with this release, such as reports, might have an impact on the report and FpML processing of EurexOTC Clear Members. 

After the batch processing on Friday, 30 June 2023, reports are created based on EurexOTC Clear Release 14.0 formats. Intraday and End-of-Day reports that are created on Monday, 3 July 2023, start of business, will be created based on OTC Release 15.0 formats.

3. Details

A. Documentation for OTC Release 15.0

As announced with Eurex Clearing Circular 010/23 and documented in the “Functional Release Notes”, there are enhancements and changes relevant for OTC IRS Swap and FXNDF Participants.

Further details on enhancements and changes can be found in the functional and technical documentations, which are updated with OTC Release 15.0. The “OTC Procedures Manual”, the final version of all documents, samples and XSD files have been published and are available in the Member Section of Deutsche Börse Group under the following path respectively:

Resources > Eurex Clearing > Documentation & Files > EurexOTC Clear > System documentation

B. Changes to be introduced with EurexOTC Clear Release 15.0

• Removal of sub-sampling from initial margin calculation
• Introduction of Package Trade Clearing
• Maximum Maturity Extension from 30 to 50 years for EUR-HICPxT
• Offsetting IR risk from IRS and Inflation Swaps in LA calculation
• FpML upgrade from version 5.6 to version 5.7
• Improvement of ZCIS handling for sensitivity-based Margin Calculator requests
• Report changes
• GUI changes

Please also note that since the Approved Trade Sources (ATSs) currently in scope for Package Trade Clearing functionality will not be supporting this functionality by the production date of EurexOTC Release 15.0, this functionality will be made available at a further stage. Members are recommended to contact their respective ATSs to learn more about their readiness status and the timeline to support this functionality.

Detailed information about each release item has been published on the respective Support page under the following link: Support > Initiatives & Releases > EurexOTC Clear Releases > EurexOTC Clear Release 15.0 and has been documented in the Functional Release Notes.

In connection with the introduction, please also consider the “EurexOTC Clear Release Known Limitations” list, which has already been updated and published in the Member Section of Deutsche Börse Group under the following path:

Resources > Eurex Clearing > Documentation & Files > EurexOTC Clear > General question log & Known limitations

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