VOLUME 24 – BULLETIN #024
UPDATE
TO:
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ALL CLEARING PARTICIPANTS
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FROM:
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CLIENT SERVICES AND SUPPORT
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DATE:
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March 4, 2004
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SUBJECT:
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Post LTD EFP/EFS Processing
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After 12:01PM on the last trading day of a Eurex US listed futures contract and for a period permitted by Eurex US rules, the post processing of an Exchange for Physical/Exchange for Swap (EFP/EFS) for outstanding contracts will be done through the ACT System.
The selling firm initiates the EFP/EFS through the ACT System; the buying firm accepts the transaction. When the EFP/EFS transaction is fully claimed by the accepting firm is it matched. Once the EFP/EFS is matched, The Clearing Corporation will send TREX confirmation messages via MQM to the respective clearing participants. The TREX messages will be identical in content to the messages sent for EFP/EFS transactions submitted through the Eurex US trading platform. The submission of adds and changes through TREX messaging from a clearing participant's back-office system via MQM will not be supported. Updates to EFP/EFS transactions for the initiating and accepting firm as well as give-up functionality will be fully supported through the ACT System.
Furthermore, misclears of EFP/EFS traded during this time will be entered through the ACT System. The TREX messages will be identical in content to the misclear messages sent for trades that were executed in error on the Eurex US trading platform.
Client Services and Support Group will offer training classes for the new EFP/EFS functionality. Details pertaining to the training classes will be provided in future bulletins.
Should you have any questions, please call or e-mail one of the following Client Services and Support Representatives:
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