Clearing Status

Sat 1 Nov 2014, 05:00:54 BST

 

UCP market wide status announcements will appear here...

 

 

1. HIGH:  LIFFE to ICE Position Migration - Tranche 4 (Phase 3 Financials); effective Monday 03 November 2014

Phase 3 of the LIFFE Financial product transition to ICE Futures/Clear Europe will take place after close of business on Friday 31 October 2014, effective Monday 3 November 2014.  The following contracts will migrate for trading and clearing to ICE technology:

Euribor Futures & Options, and 3 month Eonia Swap Futures.

The Tranche 5 (Equities) transition will take place over the weekend of 15/16 November, effective Monday 17 November 2014.  Affected products are all Individual Equity and Index products.

 

2. HIGH:  LIFFE to ICE Position Migration - Tranche 3 (Phase 2 Financials); effective Monday 20 October 2014

Phase 2 of the LIFFE Financial product transition to ICE Futures/Clear Europe will take place after close of business on Friday 17 October 2014, effective Monday 20th October 2014.  The following contracts will migrate for trading and clearing to ICE technology:

Short Sterling Futures & Options, Long and Ultra Long Gilt products.

Tranche 4 (Phase 3 Financials) transition will take place over the weekend of 1/2 November, effective Monday 3rd November 2014.  Affected products are Euribor Futures & Options, and Three Month Eonia Swap.

 

3. HIGH:  LIFFE to ICE Position Migration - Tranche 2 (Phase 1 Financials); effective Monday 06 October 2014

Phase 1 of the LIFFE Financial product transition to ICE Futures/Clear Europe was completed successfully, effective Monday 6th October 2014.  The following contracts are now trading and clearing on ICE technology:

EuroSwiss, Euro/Dollar/Sterling/Swiss Swapnotes, Short/Medium Gilt & European Government Bonds.

Tranche 3 (Phase 2 Financials) transition will take place over the weekend of 18/19 October, effective Monday 20th October 2014.  Affected products are Short Sterling, Long/Ultra Long Gilts.

 

4. HIGH:  LIFFE to ICE Position Migration - Tranche 1 (Commodities); effective Monday 29 September 2014

LIFFE Commodity (X exchange) positions migrate to ICE Clearing technology on and from Monday 29 September 2014.  This communication is intended to provide Members with an understanding of what information will and won’t be available via UCP services following this migration;

FIXML (UCP);

  • Members will be able to subscribe to the X exchange via FIXML, and receive heartbeat messages, but no data will be available since the products will no longer be trading or cleared via Liffe technology.
  • Both the L and the O exchanges will of course be available, servicing the remaining Liffe products until they are transitioned to ICE technology in later Tranches.

FIXML (UTP);

  • Members who download the UTP FIXML reference/standing data files for the X exchange are reminded that these will no longer be produced due to the migration of these contracts to the ICE trading infrastructure.
  • As further products are migrated during the transition period, for the Financials (L) and Equities (O) migrations, products will cease to appear in each file as they migrate, and once all products for an exchange have migrated, the file for that exchange will cease to be produced.

UCP GUI;

  • Top day (“T”) trade searches (29-Sep) will return no data for the X exchange.
  • Current day (29-Sep) position searches will return no data for the X exchange.
  • On Monday 29 September only, T-1 to T-5 trade searches will be serviced.
  • On Monday 29 September only, historical position searches will be serviced.
  • On and from Monday 29 September, Delivery Position searches (i.e. Positions Pending) will return no data.
  • On Monday 29 September only, previous day’s HIT and OER reports will be available.
  • On and from Tuesday 30 September, all trade and position searches will return no data.   
  • On and from Tuesday 30 September, no reports will be available via the GUI.

Reports;

  • On and from Monday 29 September no new X exchange reports/files will be generated/published (e.g. HIT, CMR, SDF).  L and O exchange reports/files will continue to be made available, but will naturally carry reduced content from later datesas and when those products migrate to ICE technology, under the various Tranches.
  • Prior days’ X exchange reports/files will remain available on Liffe’s Secure FTP site until they naturally roll off under the business as usual timeframe of six business days.
  • There are also a number of Exchange produced files/reports, currently available from ftp://ftp.liffe.com/liffe/, that will no longer be produced or published for the X exchange, on and from Monday 29 September, e.g. dcfsmmdd.pdf/txt, dcodmmdd.pdf/txt, dsmmddxf.csv, dsmmddxo.csv, xspmmddf.csv/dat/txt and standing_data_x_yyyymmdd.csv.

On and from Monday 29 September 2014, all Commodity trade and position management will take place using ICE Clear Europe’s clearing technology (PTMS/ACT/ECS), under the IFLX market code.

5. MEDIUM:  Liffe Report Decommission

As part of the Post Trade and Clearing Systems migration to ICE, the following Liffe reports will no longer be available on and from Monday 28 July:

- SPAN risk arrays, MSP (Margin & SPAN Summary), SET (Settlement prices).

The following Liffe reports will no longer be available on and from Monday 11 August:

- POS (Position Reconciliation), TRA (Trade reconciliation), NOT (Notifications).

 

6.  MEDIUM:  Change to Automatic Option Exercise Settings

Following consultation with Members, from both a trading and clearing perspective, the Exchange has determined to reduce the default automatic option exercise settings for all London Market Liffe Individual Equity Option ("IEO") contracts (including those available only on Bclear), effective on and from Monday 14 July 2014, such that all option positions that are in-the-money (ITM), by any amount, when compared to the Expiry Reference Price/EDSP determined and published by the Exchange on expiry day, will automatically exercise, unless Members take preventative measures prior to the Option Exercise Deadline, using standard Universal Clearing Platform ("UCP") option abandon functionality.

 

7.  MEDIUM:  Change in Liffe Clearing Contact Details

Members please note that, effective on and from Tuesday 22 April 2014, telephone contact details for the NYSE Liffe Clearing Operations and Membership Operations teams will change, as follows;

 

New Number

Effective date

Clearing Operations

+44 20 7429 7185

Tuesday 22 April 2014

Membership Operations

+44 20 7429 7172

Tuesday 22 April 2014

Email addresses will remain unchanged;

 

Email Address

Clearing Operations

nyseliffeclearing@nyx.com

Membership Operations

membershipops@nyx.com; traderkeys@nyx.com