Changes in CBF supporting migration of security clearing to the C7 SCS platform applying Trade Date Netting (TDN)

Clearstream Banking (CBF)¹ informs customers about the content of the June 2021 release that supports the introduction of the C7 SCS platform applying Trade Date Netting (TDN) by Eurex Clearing AG (ECAG).

The implementation of the enhancements for CBF will happen on two dates:

14 June 2021, when CBF will implement the functionality;
27 September 2021, when ECAG migrates securities clearing to the C7 SCS platform².

The enhancements are described in detail in the PDF attached below.

The following table shows the enhancements that will apply and the dates these will become effective:

No.	Change	Availability of functionality
1.	New functionality of transaction management on pending matched instructions	For standard OTC instructions as of 14 June 2021; For CCP instructions from C7 SCS as of 27 September 2021.
2.	Impact on transaction management detection cycle	For standard OTC instructions as of 14 June 2021; For CCP instructions from C7 SCS as of 27 September 2021.
3.	Impact on interest payments	For standard OTC instructions as of 14 June 2021; For CCP instructions from C7 SCS as of 27 September 2021.
4.	Change in transaction management reporting	For CCP instructions from C7 SCS as of 27 September 2021.
5.	Impact on settlement instructions (free text field)	For standard OTC instructions as of 14 June 2021; For CCP instructions from C7 SCS as of 27 September 2021.
6.	New functionality of modifying already matched instructions	For CCP instructions from C7 SCS as of 27 September 2021.
7.	Impact on U.S. tax reporting	For CCP instructions from C7 SCS as of 27 September 2021.

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1. This Announcement was 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.

2. After this date, old CPP instructions from ECAG’s existing platform (Securities CCP) can still be found in the system and will be processed according to the old logic in parallel to C7 SCS. The new functionality related instructions from C7 SCS will not be available for these instructions from Securities CCP.