Eurex
1. Introduction
With this circular we would like to draw attention to the Short Code and Algo ID solution enhancement, which will be introduced with T7 Release 13.0 on 18 November 2024. Trading Participants are required to adjust the Short Code and Algo ID processing in order to adhere to the enhanced solution. The respective client documentation is now provided on the Eurex website www.eurex.com.
2. Required action
Trading Participants must adhere to the following requirements starting with T7 Release 13.0 on 18 November 2024. For all changes and resources mentioned hereafter, the links on the Eurex website can be found in section “Details of the initiative”.
New upload files of Short Code and Algo ID submissions of Trading Participants to the Trading Venue and altered XML report structures of the T7 XML Member reports (TR160-TR163). Respective sample upload files are available on the Eurex website.
Intraday T7 XML Member reports TR160-TR163 will be provided via the Short Code and Algo ID upload GUI and the Common Report Engine (CRE). The report generation starts at 10:00, 14:00 and 18:00 CE(S)T. Trading Participants are not mandatorily required to consider the intraday processing and can continue to use the end of day processing. However, in order to avoid final missing Short Codes, it is strongly recommended to consider the intraday reports. The T7 XML report manual and corresponding XSD files are available on the Eurex website.
The Common Upload Engine (CUE) file naming convention changed and Short Code and Algo ID files must be uploaded using the calendar date rather than the business date in the file name and the CUE will add a timestamp to the file name automatically. Please note that the prevailing file rejection in case of erroneous records will be disabled. A file reject on CUE will only take place for structural and naming convention errors. Please find more information in the dedicated “Reporting handbook for audit trail and other regulatory reporting under the MiFID II / MiFIR regime” and “CUE validation and file specification Short Code ID and Algo ID” on the Eurex website.
New T7 XML Member report TR169 “Short Code ID – Correction Report” to fulfil the requirement of providing corrections of incurred final missing Short Codes on an ongoing basis. Related documentation is provided in the “Reporting handbook for audit trail and other regulatory reporting under the MiFID II / MiFIR regime” on the Eurex website.
In addition, Trading Participants must consider the new T7 XML Member reports TR170 “Short Code ID – Historical Correction Report” and TR171 “Short Code ID – Historical Long Code Correction Report” to fulfil the requirement of providing corrections of incurred historical (older than the past trading day) final missing Short Codes and corrections of historical Short Code registrations with incorrect Long Codes. A time-limited correction phase of historical Short Code registrations will take place in 2025. More information will be provided in due course. Related documentation is provided in the “Reporting handbook for audit trail and other regulatory reporting under the MiFID II / MiFIR regime” on the Eurex website.
3. Details of the initiative
Please find a summary of the enhancements in the Attachment.
For details, please refer to Eurex Circular 063/24 and the dedicated “Reporting handbook for audit trail and other regulatory reporting under the MiFID II / MiFIR regime”, “CUE validation and file specification Short Code ID and Algo ID” and the sample upload files available on the Eurex website under the following path:
Rules & Regs > Regulations > MiFID II/MiFIR > Client & Member Reference Data
Please find more details about the T7 XML Member Reports available on the Eurex website under the following path:
Support > Initiatives & Releases > T7 Release 13.0 > Reports
Further information
Recipients: | All Trading Participants of Eurex Deutschland and Vendors | |
Target groups: | Front Office/Trading, Middle + Backoffice, IT/System Administration, Auditing/Security Coordination | |
Related circulars: | ||
Contact: | client.services@eurex.com | |
Web: | Rules & Regs > Regulations > MiFID II/MiFIR > Client & Member Reference Data | |
Authorized by: | Melanie Dannheimer |
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