Cash Market Readiness Newsflash | CSDR Regulation: Contract notes to be enhanced with segment MIC in T7 Release 9.0

Release date: 09 Jul 2020

Cash Market Readiness Newsflash | CSDR Regulation: Contract notes to be enhanced with segment MIC in T7 Release 9.0Cash Market Readiness Newsflash

Dear Xetra Participant, dear Börse Frankfurt and Börse Frankfurt Zertifikate Participant,

With this Newsflash we would like to inform you that Deutsche Börse AG plans to adjust the format of the contract notes as part of T7 Release 9.0 on 23 November 2020.

Description

The new CSDR RTS regulation on settlement discipline (see ESMA document ESMA70-151-2895), effective as of 1 February 2021, will impact the current format of the T7 Xetra (MIC: XETR) and Börse Frankfurt (MIC: XFRA) contract notes file MT512, as they strongly recommend the consideration of a segment MIC code in the current file format. 

Deutsche Börse AG plans to follow this recommendation and therefore intends to adjust the contract notes within the scope of T7 Release 9.0 to grant future compliance of this service. 

The change of the contract notes file takes place in the fourth block (text block) and results in an extension of qualifier 30 as follows:

  • A new column named "Segment-MIC of the trading platform" will be added after the existing field "OTC field indicator".
  • Format of the new column: /[4x]
  • For off-book trades, the correct segment MIC will be displayed as “XOFF”, analogous to the trading system report TC810.

The segment MIC will be also added to the printable version of contract notes. It will be placed on the lower right side of the report. 

The enhanced files will be available to customers for testing in simulation by the end of September 2020.

Action required

Customers need to make sure that the internal settlement infrastructure can cope with the latest change described in this Newsflash in order to ensure that it can be processed in production at the latest with the introduction of T7 Release 9.0 on 23 November 2020

If you have any questions, please feel free to contact your Key Account Manager or send an e-mail to: client.services@deutsche-boerse.com.

Kind regards

Your Client Services Team


Recipients:

All Xetra® Members and Vendors, all Xetra Central Coordinators, all Börse Frankfurt and Börse Frankfurt Zertifikate Central Coordinators

Contact:

Your Key Account Manager or client.services@deutsche-boerse.com

Web:

www.xetra.com


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