EurexOTC Clear: Production launch announcement of EurexOTC Clear Release 16.0

1.   Introduction

With this circular, Eurex Clearing would like to announce the production launch of EurexOTC Clear Release 16.0 on Monday, 20 November 2023. All EurexOTC Clear Members are affected by the introduction of OTC Release 16.0.

Production start: 20 November 2023

Learn now more about the EurexOTC Clear Release 16.0 on our dedicated initiative page on the Eurex Clearing website www.eurex.com/ec-en/ under the following link: Support > Initiatives & Releases > EurexOTC Clear Releases > EurexOTC Clear Release 16.0. Circulars, timeline, and additional information are available there for you. 

2.   Required action

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

After the batch processing on Friday, 17 November 2023, reports are created based on EurexOTC Clear Release 15.0 format. Intraday and End-of-Day reports, that are created on Monday, 20 November 2023, start of business, will be created based on OTC Release 16.0 format.

3.   Details

 A. Documentation for EurexOTC Clear Release 16.0

As announced with Eurex Clearing Circular 047/23 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 documentation which is updated with OTC Release 16.0. The “OTC Procedures Manual”, the final version of all documents, samples, and XSD files are available in the Member Section of Deutsche Börse Group under the following directory:

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

B. Changes to be introduced with EurexOTC Clear Release 16.0

• Introduction of Overnight Index Swap (OIS) on DKK-DESTR (Denmark Short-Term Rate) index
• Automated Position Offset through Trade Entry API
• Introduction of Trade Refactoring Compression
• A new field "UPI" for OTC trades 
• Report Changes
• GUI Changes
• API Changes

Please also note that the Approved Trade Sources (ATS) in scope for the automated position offset functionality will have later delivery dates than the production date of EurexOTC Clear Release 16.0; therefore, this functionality will be available for use at a later stage. Members are recommended to contact their respective ATS 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 16.0 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