Public holiday regulation on 1 May 2020 for Xemac
In addition to the Announcement D19047, Clearstream Banking1 informs customers on the treatment in CBF’s collateral management services (Xemac®).
CBF’s collateral management services will be closed on Good Friday (10 April 2020) and Easter Monday (13 April 2020), but available on 1 May 2020.
As T2S supports free of payment (FoP) settlement on 1 May, CBF customers can maintain their collateral holdings, that is, transfers of positions to and out of the Xemac pool are possible. In addition, substitutions can occur. The Xemac reporting will be transmitted as for any other regular business day.
For the calculation of the collateral value, Xemac will use the price files provided on 30 April 2020. Therefore, the collateral value can be impacted by an update of the underlying securities static data. An already allocated security can become invalid. Customers should be prepared to have sufficient securities in their collateral pool.
As claim amount changes in Xemac in favour of Deutsche Bundesbank will not be considered by Bundesbank on 1 May 2020, CBF recommends that customers do not initiate such changes on this day. Customers should consider that a reduction of the claim amount towards the Bundesbank cannot be executed and will be rejected.
CBF likewise recommends customers to leave claim amounts in favour of Eurex Clearing AG unchanged. On this public holiday Eurex Clearing AG will not process any instructions. For more details, please refer to the CCP processing calendar provided by Eurex Clearing AG.
For further information, customers may contact Clearstream Banking Client Services or their Relationship Officer.
1. This Announcement is published by Clearstream Banking AG (CBF), registered office at Mergenthalerallee 61, 65760 Eschborn, Germany, registered with the Commercial Register of the District Court in Frankfurt am Main, Germany, under number HRB 7500.