Euronext Dublin

About

Euronext Dublin is the central marketplace for the listing and trading of financial instruments in the Irish market and EuroCCP is pleased to offer clearing, settlement and risk management services for trades executed on Euronext Dublin.

EuroCCP will be the sole CCP  for Euronext Dublin at migration go-live date and will clear shares, equity certificates and exchange traded funds traded on the Main Securities Market (XMSM) and the Enterprise Securities Market (XESM) of Euronext Dublin. EuroCCP maximises the operational and commercial benefits for trading and clearing participants, as all trades cleared by EuroCCP will be fully netted into one net-settlement per ISIN per day.

  • Sole CCP clearing model
  • Cross platform netting will deliver substantial settlement savings
  • Direct Participant in CREST / Euroclear UK and Ireland
  • Multi-currency support (EUR, GBP, USD)
  • Stamp duty Provision
  • Trades will be incorporated in existing reporting
  • Existing margin methodology applies, which may reduce margin requirements significantly

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 November 2018. As of the go-live date, 12 November 2018, the post-trade services will be provided by EuroCCP.

  • All trades until close of business on trade date 9 November 2018, including their settlement and fails will continue to be handled by Eurex Clearing  A.G.
  • All trades as of go live date, 12 November 2018, 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 12 November 2018 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.
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 and EuroCCP Netting Form to clientservices@euroccp.com.

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Euronext SoA

Version July 2018

Once the above documents 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
DepartmentContact detailsResponsibilities
Relationship Managementrm@euroccp.com
+44 20 7392 7480
EuroCCP services
EuroCCP pricing
Main point of contact
Client Servicesclientservices@euroccp.com
+44 20 7392 7490
Paperwork
Static data
Connectivity
Reporting
Client Testingclienttesting@euroccp.com
+44 20 7392 7490
Testing
Risk Managementriskmanagement@euroccp.com
+31 20 5703 371
Risk related queries
Contacts with Euronext Dublin
DepartmentContact detailsResponsibilities
Euronext MembershipEuronextMembership@euronext.com
The Netherlands  + 31 20 721 4264
France  +33 1 70 48 27 87
On-boarding
Client administration
Euronext Market ServicesEMSEquities@euronext.com
Ireland  +353 1 6175144
France +33 1 8514 8585
The Netherlands +31 20 721 9585
UK +44 20 7660 8585
Belgium +32 2 620 0585
Portugal +351 2 1060 8585

Market queries

Operational, technical or trading-related information

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