Reporting by Eurex Clearing according to Article 9 EMIR – Member Information for EMIR REFIT

1. Introduction

According to Article 9 EMIR (European Market Infrastructure Regulation), both Eurex Clearing AG (Eurex Clearing) and its Clearing Members are obliged to report transactions and positions in exchange-traded and OTC derivatives contracts. In addition, collateral and valuation reports must be submitted. 

Since both counterparties of a derivatives trade must report and since common data must be identical, it is important that the CCP and its Clearing Members use the same methodology to populate common data fields. 

With EMIR REFIT, as of 29 April 2024, there will be major changes to the existing EMIR reporting. Please find attached to this circular the Go-live version of Eurex Clearing’s Member Information for EMIR REFIT. The document outlines the reporting information considering the changed requirements coming with EMIR REFIT. It reflects Eurex Clearing’s understanding of the changed rules. 

This circular gives market participants guidance of how Eurex Clearing implements the new reporting requirements. While reasonable care has been taken in the preparation of this document to provide details that are accurate and not misleading at the time of publication, Eurex Clearing shall not be responsible or liable for any third party’s use of any information contained herein under any circumstances or for any errors or omissions contained in this publication. 

Production start: 29 April 2024 

2. Required action

Members are asked to read the Go-live version of the Member Information attached and participate in simulation. Eurex Clearing encourages members to have a look at the structure of the reports provided to ensure their consumption with the go-live of EMIR REFIT.  

3. Details of the initiative

Eurex Clearing’s Member information has been updated with version 1.2 in following chapters: 

• 3 Timeline for member files changed to 29 April 2024 
• 6.3.2 CFI code of FRA from SRMCSC to JRIXFC in June 2024 
• 7.1.1 Calculation of valuation amount [2.21] for futures and options with future style margining 
• 8.2.3 Description of LSOCMaster and LSOCsub pools 
• 9.1.1 Introduction of barrier for initial margin pre-haircut reporting 
• 10.2.1 Transaction type 115 CLRG HOUSE TRANSFER becomes reportable
• 11.2.13 Execution timestamp [2.42] for legacy and new ETD positions
• 12 Harmonized file for days with no reportable position will not be sent to Clearing Members
• 16.1 Reportability of off-setting LCEs 

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.

Attachment:

• Go-live Version of Eurex Clearing’s Member Information for EMIR REFIT 

Further information