Securities Clearing CCP: Service decommissioning

1.   Introduction

With this circular, Eurex Clearing informs about migration of the last Securities CCP service to C7 SCS. The clearing of Eurex physical deliveries resulting from Eurex options and futures on UK and Irish instruments, which settle at Euroclear UK & International (EUI, “CREST”), will be migrated to C7 SCS concluding the Securities CCP service migration. 

Start of clearing of Euroclear UK & International deliveries in C7 SCS: 27 November 2023

2.   Required Action

Starting on 27 November 2023, no information related to current securities clearing business will be available from the Securities CCP neither on Securities CCP reports (i.e. CE290, CE260) nor in the Securities Clearing GUI. 

The Securities Clearing GUI currently showing the status of deliveries for Euroclear UK & International will become obsolete and be discontinued by end of November 2023.

The access to the GUI is based on the Eurex Clearing GUI account, which can be used for up to four different GUI accesses (C7 Clearing GUI, EurexOTC Clear GUI, Prisma Margin Calculator GUI and Securities Clearing GUI).

According to the Price List to the Agreement on Technical Connection to the Clearing EDP of Eurex Clearing AG, it is connected to a fee applied per Eurex Clearing GUI account.

Therefore, each Member must analyse, if after the discontinuation of Securities Clearing GUI in productive environment, the account is still required.

Eurex Clearing suggests deactivating the account in the Member Section of Deutsche Börse Group, in case the account is in use for the Securities Clearing GUI only.

3.   Details

As announced in Eurex Clearing Circular 025/23, Eurex Clearing decided to conclude the final milestone of its strategic roadmap for migration of the Securities CCP into the C7 SCS environment.

Thus, the processes related to Securities CCP on client’s side become obsolete and can be removed from the production environment. 

• Securities CCP reports: Eurex Clearing will deactivate the distribution of reports (i.e. CE290, CE260) in the course of December 2023, no further customer action is needed
• Securities Clearing GUI: as the access is based on the Eurex Clearing GUI account, also available for additional GUI accesses (i.e. C7 Clearing GUI), each client must analyse its access requirements and deactivate the account, in case there is no usage for it

The C7 SCS Release 3.0 project description can be found on the Eurex Clearing website on the dedicated initiative page under the following link:

Support > Initiatives & Releases > C7 SCS Releases > C7 SCS Release 3.0

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