Summary
Invoicing for Service Fee for Margin Assets in the Form of Securities, Service Fee for Margin Assets in the Form of Cash, Service Fee for Margin Assets in the Form of Emission Allowances and Service Fee for Margin Assets in the Form of Bank Guarantees will be integrated into the SMSS fee-invoicing generation and reporting.
Reporting for Interest on Margin Assets in the Form of Cash will be harmonised with the reporting today offered by EUREX Clearing AG. Institution Clearing Members eligible to receive interests on EUR cash collateral will receive the reports CD230 and CD231 with the calculated Interest details per collateral pool.
The amendments will take effect starting 1 February 2024 with the invoicing period for February 2024.
A summary of the changes is provided below:
A new Service Fee Invoice for Margin Assets with the related Product Groups as specified below will be integrated into the SMSS fee invoicing generation and reporting.
ECC_SF_COLLATERAL_CASH – Service Fee for Cash
ECC_SF_COLLATERAL_WP – Service Fee for Securities
ECC_SF_COLLATERAL_EUA – Service Fee for Emission Allowances
ECC_SF_COLLATERAL_GUARANTEE – Service Fee for Bank Guarantees
ECC_SF_DCP_Limit_FEE - Fee for Adjusting Limits (for DCP Clearing Members only)
This change applies to all Institution Clearing Member as well as Direct Clearing Participants.
Additional change for Institution Clearing Member:
Following the C7 release 10.1 all Institution Clearing Members eligible for payment of interest on Margin Assets in the Form of cash will receive daily and monthly interest reports similar to the reports already today available for Eurex Clearing AG participants:
- CD230 Monthly Interest Report
- CD231 Daily Preliminary Interest Report
These reports show the interest on cash collateral held with ECC, summed up for each calendar day and aggregated for the month. The report contains interest on cash collateral per pool ID, type of money and currency once the interest is calculated and posted. Please note: ECC pays interest on EUR cash collateral only.
The report CD231 will be provided on each business day and will contain cash collateralinterest details. The report CD230 will only be provided once per month after the interest period. The first monthly report with cash collateral interest details will be generated in the EOD on 29 February 2024.
The interest payment will be shown in the report CD710. The interest payment will appear twice in CD710. First on the ECC business day after the interest period (currently monthly) and the second time a day before the value date. The following transaction types will be
used:
230 Credit Interest Received
232 Debit Interest Charged (in case of negative interest rates)
For more Information on the report structure, please see the info pages:
www.ecc.de/en/member-section/smss-reporting
www.eurex.com/ec-en/support/initiatives/c7-releases > C7 Release 10.1 > System Documentation > Reports
Contact
European Commodity Clearing AG
Clearing & Settlement
Phone: +49 341 24680-444
E-mail: clearing@ecc.de