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Eurex Information eurex information Date: Frankfurt, April 10, 2003 Recipients: All Eurex Clearing members and vendors Authorized by: Daniel Gisler Central Counterparty – CCP Circulars 57/03 and 58/03 Contact: Functional Member Readiness: Tel. +49-69-21 01-17 00 Content may be most important for: Attachments: Ü Central Counterparty Coordinators CCP Circular 57/03 (English/Deutsch) CCP Circular 58/03 (English/Deutsch) Attachment: 2nd Step CCP Instruments Please find attached a copy of Central Counterparty Circulars 57/03 and 58/03 sent to Frankfurter Wertpapierbörse members and vendors recently. Circular 57/03 provides information on some adjustments that have been made recently to the software in the CCP simulation environment. Circular 58/03 gives important details relating to the second stage of introduction of CCP production and outlines the procedures to be followed, and helpdesk availability, in the initial days. An attachment gives the list of instruments to be introduced on April 10, 2003. All important CCP documents, including those referenced above, can be accessed via the CCP web-site under ‘Documentation’. Access to the CCP site from the Eurex web-site “www.eurexchange.com ” is via the ‘Member Section’ (Eurex login required) > ccp (login ‘ccp’ and password ’go’). Eurex Clearing AG Functional Member Readiness Alternative Management Board: D-60485 Frankfurt am Main Tel. +49-69-2101-1700 Tel. +49-69-9770-1700 Rudolf Ferscha (CEO), Daniel Gisler, www.eurexchange.com Fax +49-69-2101-1701 Fax +49-69-9770-1701 Thomas Lenz, Peter Reitz, Jürg Spillmann, Michael Widmer CCP Circular 58/03 To the FWB Members, Xetra® Members and Vendors Recipients: Project Coordinators FWB Frankfurter Please read carefully! Wertpapierbörse Management Central Counterparty – CCP April 9, 2003 Neue Börsenstraße 1 60487 Frankfurt am Main Second Stage of the CCP Production Mailing Address 60485 Frankfurt am Main Dear Sir or Madam, Telephone Below you will find all necessary information related to the second stage +49(0)69-21 01-16 60 +49(0)69-97 70-16 60 of the introduction of the Central Counterparty for Equities. On April 10, 2003, the remaining CCP instruments will be transferred to the CCP Telefax +49(0)69-21 01-16 61 production. The planned course of the introduction was defined analo- +49(0)69-97 70-16 61 1 gously to the procedure in the first step , which was introduced on Internet March 27, 2003. www.xetra.de Please be aware that the activities described in this circular refer exclusively to the new CCP instruments which will be added to CCP production. Those instruments are specified in the attachment. The 61 CCP instruments of the first introduction stage, which are already traded in CCP production, are not affected by the activities described in this circular. 1 Introduction of the second CCP Production stage according to plan 1.1 Activities during planned introduction of the second production stage With the second stage of the CCP production start on Thursday, April 10, 2003, online entries will be possible from 07:00 a.m. CET. Same-day trades in all CCP instruments will be displayed in the @X-PERT-GUI after their conclusion and transfer to the CCP. On April 10, 2003, Clearing Members and Settlement Institutions will receive trade confirmations, contract notes and the CE260 Pending Delivery Report related to trades executed on April 10 also for the newly included CCP instruments. Additional relevant information regarding the availability of trades in Gross Delivery Management was provided with CCP circular 30/03 from March 11, 2003. Please be reminded that trades executed in newly included CCP General Managers: Edward Backes instruments before April 10, 2003 will be available in LION, as usual. Rudolf Ferscha Matthias Ganz Rainer Riess 1 See CCP circular 31/03 as of March 11, 2003 Page 2 April 09, 2003 Furthermore, we would like to draw your attention to the fact that from April 10, 2003 onwards, all CCP trades will be considered for Eurex Clearing AG intra-day margin calculation. Until Friday, April 11, 2003, Gross Delivery Management disposition of same-day CCP trades and CCP trades entered on the previous day is possible. For the first time, the CCP delivery release file will also contain CCP second stage instruments. In the evening, Settlement Netting and the STD run will be executed for the first time including all CCP instru- ments. Also for the first time, settlement reports including all trades concluded on April 10, 2003 will be provided on this day. On Saturday, April 12, 2003, participants should thoroughly check the reports received between Friday evening and Saturday morning and, if necessary, the results of their automatic processing. In case of any dis- crepancies, please contact the Functional CCP Helpdesk under telephone +49(0)069-21 01-19 40. As specified in the table on page 4, further help- desks will be available continuously from 11:00 a.m. CET to 01:00 p.m. CET on this day. Kindly note that Gross Delivery Management, the @X-PERT GUI and CASCADE/LION will not be available on this day. On Sunday, April 13, 2003, no availability of systems or helpdesks is planned. On Monday, April 14, 2003, the SDS1 run, the SDS2 run and cash settle- ment including all CCP trades will take place for the first time. 1.2 Communication during the planned introduction of second CCP Production stage In order to provide complete and continuous communication, you will again receive daily regular status updates at 12:00 noon CET between April 10 and April 14, 2003 (excluding Sunday, April 13, 2003) regarding the course of the second CCP production stage. This information can also be retrieved from the Internet in the closed user area “Members Only” (after accessing it by using the login “ccp” and the password “go”). As before, all information will be published in the section “Production News”. Page 3 April 09, 2003 2 Course of the second CCP Introduction Stage not according to Plan 2.1 Measures in the event of second CCP introduction stage not according to plan As the CCP functionalities have been successfully running in production for approx. 10 percent of the trading volume since March 27, 2003, the focus of the second CCP production stage will be on the CCP batch processing. Should the CCP processing run scheduled overnight from April 14 to April 15, 2003 not be completed until 07:00 a.m. CET, the availability of Gross Delivery Management will possibly be delayed. In order to provide the participants with sufficient time for Gross Delivery Management activities the CCP SDS1 may be cancelled if necessary. This stands in the accordance with the contingency procedure and extends the availability of Gross Delivery Management. Xetra and XONTRO will be started without delay. Should Eurex Clearing AG decide on a possible rollback for the CCP instruments, only the CCP instruments that were included as of April 10, 2003 in the second stage are affected (please refer to the attachment). Therefore, in case of a possible partial rollback, please be prepared to execute processing of second stage CCP instruments without CCP. As part of the rollback procedure, Wertpapier-Mitteilungen (WM) will be advised immediately to modify the corresponding master data. WM will remove the CCP flags and the updated WM data will become effective on April 15, 2003. 2.2 Communication in the event of the second CCP intro- duction stage not according to plan Should the CCP production not run smoothly, besides the regular status update we will provide prompt information regarding the current status and the measures that will be taken. In this context please pay attention to possible notifications via the regular communication channels (Internet, e-mail). In case of a rollback decision we will inform you immediately about the further procedure. Please make sure that your contact person for the CCP production will be available during the aforementioned days under the telephone numbers specified by you. Page 4 April 09, 2003 3 Helpdesk availability From April 10 until April 14, 2003, the following helpdesks will be available at the specified times: Helpdesk Focus Number Availability April (Times CET) 069-21 01 10 11 12 13 14 Deutsche Börse Sy stems Technical 28 00 6 a.m. - 6 a.m. - 11 a.m. - 6 a.m. - CCP Technical Helpdesk problems 10 p.m. 10 p.m. 1 p.m. 10 p.m. Functional Eurex Functional/ opera- 19 40 7 a.m. - 7 a.m. - 11 a.m. - 7 a.m. - Helpdesk CCP tional questions 8.30 p.m. 8.30 p.m. 1 p.m. 8.30 p.m. regarding CCP, Gross Delivery Management, Risk Management Clearstream Banking Functional settle- 11 77 8 a.m. - 8 a.m. - 11 a.m. - 8 a.m. - Frankfurt/ Domestic ment questions 7 p.m. 7 p.m. 1 p.m. 7 p.m. Customer Service CA SCADE/LION Deutsche Börse AG Customer service/ 16 60 8 a.m. - 8 a.m. - 11 a.m. - 8 a.m. - Sales Support Member connec- 6 p.m. 6 p.m. 1 p.m. 6 p.m. tion/admission For any questions you may have, please do not hesitate to contact the CCP Sales Support Team under telephone: +49(0)69-21 01-16 60 or fax: +49(0)69-21 01-16 61. Yours faithfully On behalf of the Management Oliver Vossmann Jens Hachmeister Enclosure Second introduction sequence of the CCP instruments as of April 10, 2003 CCP Instruments - remaining instruments + corresponding instruments 1 DE0002457363 NETJ NET AG Jge 2 DE0005001002 VAR VARTA AG O.N. 3 DE0005002505 ANT ANTERRA VERMOEGENSVERW. 4 DE0005003404 ADS ADIDAS-SALOMON AG O.N.
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