Euronext Dublin

EuroCCP’s Relationship Management team can provide an assessment of the savings resulting from the consolidation of Euronext Dublin activity with EuroCCP.

Key dates

The below graph shows the timelines for clearing for Euronext Dublin. The timelines may change and the go live date is subject to regulatory approval(s).

Migration

The Euronext Dublin segment will be migrated to Euronext’s central order book in February 2019. As of the go-live date, 4 February 2019, the post-trade services will be provided by EuroCCP.

• All trades until close of business on trade date 1 February 2019, including their settlement and fails will continue to be handled by Eurex Clearing  A.G.
• All trades as of go live date, 4 February 2019, will be handled by EuroCCP.
• Trades as of go live date will be netted with the rest of a clearing participants’ activity cleared by EuroCCP, for margining purposes.
• Stamp duty reporting will be performed by EuroCCP for all trades as of go live.
• In the end of day process on 4 February 2019 all trades in the same ISIN will be cross platform netted and settlement instructions will be sent to Euroclear UK and Ireland.

A migration dress rehearsal will be part of the preparation for the production migration. The dates for the migration dress rehearsal will be communicated in due course.

Next steps

Testing

As from Monday 24 August 2018, EuroCCP’s client test environment will be available for clients to test trades executed in the test environment of Euronext Dublin.

• Clearing participants wishing to test should contact the Euronext CTSG team and EuroCCP’s Client Services team to discuss their testing requirements and ensure that the test systems are configured accordingly.
• Clearing Participants should advise Euronext of the trading participant ID with 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 to ensure Euronext Dublin and EuroCCP’s test environments are configured accordingly.
• A list of ISIN codes will be agreed with each client for testing purposes, to ensure a smooth and successful test.
• EuroCCP‘s testing environment is available on business days on a free of charge basis, from 09:00-17:00 CET, with reporting available thereafter.

End to End Testing

“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. Please return the EUI Client Testing form by email to eui-client-testing@euroclear.com and cc the EuroCCP testing team clienttesting@euroccp.com so that testing can be coordinated efficiently.

EUI Client test form

Version December 2018

Application

To clear trades executed on Euronext Dublin with EuroCCP, a Clearing Participant should:-

• Firms are required to contact Euronext’s membership department and should complete the appropriate application forms. Further information can be found on the webpage https://www.euronext.com/membership
• Advise EuroCCP’s Relationship Management team of your intention and implementation plans, so that the necessary arrangements can be made.
• Complete and return the Euronext Dublin Statement of Authority to clientservices@euroccp.com.

Euronext SoA – Ireland only

Version December 2018

Once the above document and supporting information have been received, EuroCCP will liaise with Euronext Dublin to ensure that Euronext Dublin and EuroCCP’s production systems are configured accordingly.

Reporting

Once trades executed on Euronext Dublin are cleared by EuroCCP, EuroCCP’s real time, intraday and end of day files will include your Euronext Dublin activity.

During testing, files will be generated and distributed from EuroCCP’s client test environment.

Contacts

Contacts with EuroCCP

Contacts with Euronext Dublin

Euronext Dublin related newsflashes