eurex clearing rundschreiben 016/13 - Eurex Group
eurex clearing rundschreiben 016/13 - Eurex Group
eurex clearing rundschreiben 016/13 - Eurex Group
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<strong>Eurex</strong> Clearing AG<br />
CCP Release 8.0<br />
User Guide for the Securities Clearing GUI<br />
04.02.<strong>13</strong><br />
Page 14 of 89<br />
immediately on the page but become effective in the next settlement cycle. However, it is not<br />
possible to change the processing method to net for trades eligible for immediate settlement<br />
(ISI). ISI trades are always eligible for gross settlement.<br />
• Partially Releasing aTrade<br />
If a sell trade is supposed to be partially released, the link PR of this trade can be clicked in<br />
the trade table. This shows the Partial Release page, which allows partially releasing<br />
respectively partially blocking the trade.<br />
If a manually linked trade is selected on the partial release page, after clicking the Partial<br />
Release button, an error message will appear. Manually linked trades have to be explicitly<br />
unlinked before a partial release transaction can be performed.<br />
A partial release can be performed for sell trades that are marked for either net or gross<br />
process.<br />
• Linking of Trades<br />
Trades belonging to the same settlement netting unit can be linked manually or<br />
automatically. When trades are linked manually, asell and a buy trade are explicitly linked<br />
together (1:1 relation). When several sell and buy trades (m:n relation) are linked<br />
automatically, a link reference (LinkRef) has to be specified.<br />
• Manual Link<br />
If a sell trade should be linked to a buy trade, the link ML of this sell trade needs<br />
to be clicked in the trade table to show the Manual Linking Trade Overview page.<br />
On that page possible buy trades to be linked to the selected sell trade are<br />
displayed (refer to chapter 2.9.4). After a successful transaction the status of this<br />
sell trade changes to RSt = ’LM’.<br />
If a trade is already manually linked, then the linked trade can be replaced by<br />
another buy trade by clicking the ML link and selecting another buy trade on the<br />
Manual Linking Trade Overview page.<br />
The link between asell and a buy trade can also be removed explicitly on the<br />
Manual Linking Trade Overview page by clicking at link 'UL' (unlink) in column<br />
'Transaction' of the table displaying the sell trade.<br />
If a manual link is removed, buy trades receive the release status ’Pending’<br />
(RSt =’P’), sell trades the release status ‘Blocked’ (RSt =’BL’).<br />
Only sell trades that are not subject to further partial executions (FE='Y') can be<br />
manually linked to a buy trade.<br />
Open repos and open variable repos term leg trades are not subject to manual<br />
linking as long as the settlement date is set to 31-12-2099. If such a term leg<br />
trade is selected for manual linking, an error message will be displayed. After<br />
receiving a closing request acontractual settlement date is set and manual<br />
linking will be possible.<br />
• Automatic Link<br />
If trades should be linked automatically, the button 'Set Ref' has to be pushed and<br />
alink reference has to be specified in the popup. The entered reference will be<br />
assigned to all selected trades. To delete or modify areference of single or multi<br />
selected trades, the field 'LinkRef' is either left empty or a new reference is
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