C7 Releases

Customer Order Handling Instruction information will be retained in scenarios of VBAP grouping and will be considered while allocation process and relevant pro-rata calculations.

C7 will maintain VBAP sub-group transactions for all possible combinations of “Trade Type”, “Trade Publish Indicator” and “Customer Order Handling Instruction”.

Clearing Members are to perform sufficient testing for the following changes: 

• New FIXML field “CustOrderHandlingdlInst” with FIX Tag 1031 in the Allocation Instruction Alert FIXML message needs to be tested
• VBAP windows on C7 GUI will be updated regarding the Rate ID
• New field “rate Identifier” in the Clearing report RPTCB716 to be tested

While processing cancel allocations, the application first calculates forecasted (post-cancellation) average price (System Calculated Average Price (SCAP)).
If the group's forecasted SCAP falls outside the Group's High/Low Price range, then the Cancel Allocation request will be rejected with an appropriate message.

Clearing Members should be aware of the added validation.

Clearing Members will be able to use FIXML AIA message to specify target text fields when requesting Account Transfer for average price transaction(s) out of the VBAP group aligning GUI and FIXML behavior.

The already existing text fields in the AllocGrp of the AIA message could be used in the future for the Account Transfer. To achieve this, the nested parties for the Target Member and Target Accounts have been moved to the AllocGrp.

The existing FIXML field “AllocGrp” in the AllocInstrctn FIXML message needs to be considered.

The Ref field has to be always filled. The default value will be "O" (open) but can be changed to "C" (close) by Clearing Members. 

C7 GUI Change only, no further actions required.

With this release, a new email service will be introduced in case of level 3 breaches. C7 ARP Members can choose to receive the new service in addition to the current GUI pop-up and FIXML message. 

Please note that this email service will not be considered as a legally binding form of communication. Due to data protection rules governing the C7 service, only generic email addresses will be permitted, not personal email addresses.

Clearing Members that would like to make use of this service shall contact their Clearing Key Account Manager or send an email to client.services@deutsche-boerse.com.

Eurex is planning to enhance the C7 GUI window with additional fields, indicating whether the results are partially or fully exercised/assigned against the position held at the expiry.

An IOA indicator column (-in the money, -out the money, -at the money) will be implemented, that also considers the

• FSP (Final Settlement price) or
• EDSP (Exchange Delivery Settlement Price) or
• USP (Underlying Stock Price)

for OSTK in order to display illogical expectations.

C7 GUI change only, no further actions required.

As already stated in the C7 10.1 Release Notes (released in December 2023), Eurex plans to perform a system clean-up.
All accounts that have not been used for more than two years will be deleted, except for the following:

All users listed in the “Outsourcing Relationship Overview”

• users flagged as “initial user”
• users which were created in the last two years but were not active
• (Admin) users with role "Service Administrator" and privilege "A001INQ Internal User Inquire" are able to see all users on the "User Entitlement Maintenance window".

The deletion of the accounts will become effective with C7 Release 11.0 on 18 November 2024.

Clearing Members are asked to check prior to the deletion , if they still require those accounts, which have not been used for over two years. The User Entitlement Maintenance Window will be enhanced to show last activity of the user, day of user creation and initial user.

The transactions (deposit/withdrawal) with ToM “Quota” will be generated to fulfill permanent cash ratio requirements.

The cash transaction amounts to meet the permanent cash ratio will be calculated on collateral pool level on a daily basis (EoD values) and will be determined as a difference between the actual delivered cash collateral (Types of Money ‘Blocked’, ‘Term’ and ‘Quota’) and the required cash collateral (total/applicable margin requirements times permanent cash ratio).

New valid value “Q” for the ‘typeOfMoney’ field in C7 Reports CD020, CD080, CD100, CD230, CD231, CI720, CI731 must be considered and tested.