Euronext Dublin go-live 4th February 2019

EuroCCP is pleased to announce that Euronext Dublin has received regulatory approval to go live with EuroCCP as their Sole CCP for transactions executed on Euronext Dublin. Go-live is planned for trade date 4 February 2019.

Existing clients active on the Irish Stock Exchange, as well as new clients have successfully completed the documentation and mandatory testing in preparation for the go live.

In the Irish market, the post-trade process provides for reporting transactions as ‘Agency’ or ‘Principal’ capacity.  Please note that by default EuroCCP will convert all transactions executed with the AOTC-capacity as ‘Agency’. It is possible to amend the static data set-up to convert the transactions in an AOTC-capacity to ‘Principal’ if required. In order to change the default set-up option, please contact EuroCCP’s Client Services team.

If you would like more information on becoming active on Euronext Dublin please see our latest Newsflash distributed on 4 January 2019.

Euronext Dublin – Client Readiness & Go-live

Following previous Newsflashes regarding preparation for EuroCCP clearing Euronext Dublin as sole CCP, EuroCCP, EUI and Euronext would like to inform clients that they must complete the following actions by the deadline 18 January 2019, or risk not being activated for live date 4 February 2019.

  1. Complete the EuroCCP Crest Static Data Form, and pay particular attention to Appendix 2 which requires clients to populate their respective SAT participant information. The venue MIC codes will change as part of this project and as a result, the following segment MIC codes will be used: XATL, XESM, and XMSM.  
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    Crest Static Data Form 272.31 KB 3653 downloads

    Version January 2019 ...
  2. Fully Complete the EuroCCP SoA for Euronext Dublin.

Testing with Euronext Dublin, EuroCCP and EUI CSD

EuroCCP would also like to remind clients that “End-to-End” testing will be available to clients between 7 – 18 January 2019.

EuroCCP has agreed with EUI that testing will be limited to the following Security ISIN codes.

IE00BF0L3536                                                                                                    IE0001827041                                                                                                    IE00BYTBXV33                                                                                                        IE00B010DT83                                                                                                          IE00BBR67J55                                                                                                IE00B1RR8406                                                                                                IE0000020408                                                                                                  IE00B1FR8863                                                                                              GB00B9275X97                                                                                              IE0000730808                                                                                                GB0001500809                                                                                              GB0002374006                                                                                            GB0008847096                                                                                            GB00B9275X97                                                                                            GB00BDD1LS57                                                                                              GB00BY7QYJ50                                                                                            GB00BYYN4225                                                                                              GB0031477770                                                                                                GB00BGCC6189                                                                                                IE00BJYS1G50

To arrange testing, we would request that clients:-

  • Complete and return the EUI Testing form as soon as possible to ensure a suitable test slot is allocated – this can be found on EuroCCP’s website on the Euronext Dublin page, and from EUI.
  • Ensure that the testing request clearly states “Euronext Dublin testing” in the form, as this period is available only for Euronext Dublin.
  • Clearing Participants should contact Euronext’s CTSG team, EuroCCP’s Client Services team and EUI’s Client Testing Team to advise of their testing requirements.
  • Clearing Participants should advise Euronext Dublin of the trading participant ID which they wish to test AND provide EuroCCP with a completed “EuroCCP testing form”.
  • Once all test details have been received, EuroCCP will liaise with Euronext Dublin and EUI to ensure test environments are configured accordingly.
  • EuroCCP‘s testing environment is available each business day on a free of charge basis between 9:00-17:00 CET, with reporting available thereafter.

Further details on EuroCCP’s clearing services for Euronext Dublin can be found at EuroCCP’s Euronext Dublin webpage.

Should you have any further queries, please do not hesitate to contact us.

Reporting on Capital Requirement Regulation

The Capital Requirement Regulation (EU 575/2013-CRR) requires EuroCCP to disclose information to allow a Clearing Participant to determine its own funds requirement for its exposure on EuroCCP.

Accordingly, please find here the required information for 31 December 2018 in pdf format, or here for Excel format.

Euronext Dublin Client Testing

EuroCCP is pleased to advise that, as part of the preparation for clearing Euronext Dublin, “End-to-End” testing will be available to clients between 7 – 18 January 2019.

Euroclear UK & Ireland (EUI), as CSD, has waived the GBP 500 per day testing fee and clients will be required to complete the EUI Testing form prior to 24 December in order to ensure that a suitable test slot is available during the above dates. 

Testing with Euronext Dublin, EuroCCP and EUI CSD

To arrange testing, we would request that clients:-

  • Complete and return the EUI Testing form no later than 24 December 2018 to ensure a suitable test slot is allocated – this can be found on EuroCCP’s website on the Euronext Dublin page, and from EUI.
  • Ensure that the testing request clearly states “Euronext Dublin testing” in the form, as this period is available only for Euronext Dublin.  
  • Clearing Participants should contact Euronext’s CTSG team, EuroCCP’s Client Services team and EUI’s Client Testing Team to advise of their testing requirements.
  • Clearing Participants should advise Euronext Dublin of the trading participant ID which they wish to test AND provide EuroCCP with a completed “EuroCCP testing form”.
  • Once all test details have been received, EuroCCP will liaise with Euronext Dublin and EUI to ensure test environments are configured accordingly.
  • EuroCCP‘s testing environment is available each business day on a free of charge basis between 9:00-17:00 CET, with reporting available thereafter.

Euroclear Finland Infinity – Volume test

Prior to the December Migration Weekend Dress Rehearsal (MWDR) for Infinity release 2, Euroclear Finland has scheduled a volume test from Monday 20 November to Monday 27 November 2017.

EuroCCP will participate in this Volume test by uploading production trading activity into EuroCCP’s client test environment. Transactions entered into the trading platform’s UAT environment will be processed in EuroCCP’s Client test environment during the full volume testing window. The volume test to be undertaken by EuroCCP is scheduled as follows:-

Monday 20 November 2017
  • Transactions entered into the trading platform’s UAT environment will be processed and settlement instructions will be submitted in the Infinity market test environment.
Tuesday 21 November 2017
  • Production trading activity for trade date Tuesday 21 November 2017 will be uploaded in EuroCCP’s client test environment.
  • Transactions entered into the trading platform’s UAT environment will be processed.
  • Settlement instructions will be submitted in the Infinity market test environment for Intended Settlement Date Thursday 23 November 2017.
Wednesday 22 November 2017
  • Production trading activity for trade date Wednesday 22 November 2017 will be uploaded in EuroCCP’s client test environment.
  • Transactions entered into the trading platform’s UAT environment will be processed.
  • Settlement instructions will be submitted in the Infinity market test environment for Intended Settlement Date Friday 24 November 2017.
Thursday 23 November until Monday 27 November 2017
  • Transactions entered into the trading platform’s UAT environment will be processed and settlement instructions will be submitted in the Infinity market test environment.

The execution IDs of the production trading activity for Finland, which is copied in EuroCCP’s client test environment during the volume test, will include a lower case “b” or “s” instead of the upper case “B” or ”S”.

Settlement instructions which are sent by EuroCCP to settlement agents under a Power of Attorney, will also be distributed during the volume test.

Clearing Participants and their settlement agents are strongly advised to undertake testing, in accordance with Infinity release 2 requirements.

Reporting and during the Volume test

During volume testing, EuroCCP’s CIF file will be generated and distributed from EuroCCP’s test environment as usual.

T2S migration weekend Spain

Following the successful migration of the Spanish market to the Target2-Securities (T2S) platform on Saturday 16 September 2017, we are pleased to announce that EuroCCP is now a Directly Connected Party to the T2S Platform for Iberclear, the Spanish Central Securities Depository. With the migration to T2S, the second phase of the Spanish Market Reform has been successfully implemented.

This is another important milestone which demonstrates EuroCCP’s commitment to providing its clients with the most efficient access to local markets, which improves settlement efficiency. EuroCCP will continue to support direct access to  local markets and has committed to join the future T2S migration waves.

We are pleased to confirm that all pending settlement instructions that were matched prior to the migration weekend have now been successfully migrated to the T2S platform.

From Monday 18 September 2017, realignments, ownership, correction ownership, hold and release requests will be processed in accordance with the new timelines published in the EuroCCP’s migration plan.

Spanish settlement instructions with trade date Friday 15 September 2017 for intended settlement date Tuesday 19 September 2017 will be submitted in T2S at close of business on Monday 18 September 2017.