Service Enhancement Spanish Market

EuroCCP is pleased to announce the following new features to EuroCCP’s Execution Realignment and Ownership Reporting services for the Spanish market:-

  • Additional execution realignment processing timelines,
  • Additional ownership reporting service,
  • Additional identification types introduced to the Post Trade Interface (PTI) reporting.

These new features are optional and have been introduced due to client demand, should clearing participants not wish to use them, no further action is required.

We would recommend that clearing participants, using the current Owner Reference Static (ORS) file, should check with their internal teams that the template change, which has increased the ‘Identification code’ field length to 20 characters, does not impact their processing.

Introduction of additional execution realignment processing timelines

EuroCCP will expand its execution realignment processing timelines to allow clearing participants to instruct one day earlier on Trade Date. From Monday 29 January 2018, clearing participants will be able to instruct EuroCCP to realign executions between clearing accounts on:

  • Trade Date between 08:00 – 14:30 CET and 18:50 – 19:10 CET, and
  • Trade Date + 1 between 08:00 – 14:30 CET.

 These additional processing timelines provide clearing participants with an additional day (on Trade Date itself) to realign executions.

Additional ownership reporting service

Since the introduction of the Spanish Market Reform, EuroCCP offered Ownership Reporting services for transactions that settle in a Third Party Account. In order to fulfil the reporting obligations to the PTI, some Iberclear participants use the HTITU03 file to report ownership.

From Monday 29 January 2018, EuroCCP will allow clearing participants to use the same format to advise EuroCCP of the ownership details.

This new Ownership Reporting service – the HTITU03 Ownership File – is offered in addition to the current Ownership Reporting services.

Additional identification types introduced to PTI reporting

The PTI will introduce new Identification Types to its ownership reporting file.  Besides the current Identification types, clearing participants will be able to use the following Identification Types when reporting ownership:-

  • L (LEI),
  • I (Owner Domestic identification in its origin country),
  • P (Passport), or
  • T (Concat),

EuroCCP will support the use of these codes as from 12 February 2018.

Client testing

As a result of the introduction of these new identification types the Owner Reference Static (ORS) data template has been updated to support these changes.

 We would strongly recommend that clearing participants undertake testing prior to the use of any of the new functionalities, which can be arranged by contacting EuroCCP’s Client testing team at: clienttesting@euroccp.com

 For further details regarding these new services, we would refer you to: