Swiss CSD PoA enhancements to auto-split service effective 20 Nov 2017

Following the newsflash dated 16 June 2017, EuroCCP is pleased to inform you of the enhancements that SIX SIS CSD is making to its Auto-split service for CCP trades settling at SIX SIS CSD with effect from 20 Nov 2017.

SIX SIS CSD is introducing additional auto-splitting cycles for CCP transactions, resulting in deliveries from members now qualifying for all intra day cycles listed below:

The Auto-split service is offered in conjunction with the CSD Power of Attorney (PoA).

Although the CSD PoA is optional, EuroCCP highly recommends the use of Auto-split functionality in conjunction with the CSD PoA given the positive impact of these combined services on settlement efficiency.  This service is very similar to EuroCCP’s Settlement agent POA set up and requires minimal changes to benefit from the increased settlement efficiency and reduction in post trade costs.

For further details of the CSD PoA, Auto-Split and EuroCCP reference (Pool reference), we would refer you to EuroCCP’s Service Description – CSD PoA Swiss market.  The new functionality will be included in the Service Description as from 20 November 2017.