Eurex Clearing Readiness Newsflash | C7 Release 12.0: Simulation start and documentation update

With this Newsflash, Eurex Clearing is pleased to announce the commencement of the Member simulation period and the publication of updated documentation in reference to C7 Release 12.0.

The simulation will begin on 1 September 2025 and clients are invited to actively participate in testing the new features introduced with this C7 Release 12.0. 

Corporate Action Harmonization

Eurex Clearing plans to adjust all Options on Stocks (OSTK) with a fractional trading unit by the equalization payment method. To achieve this, a Corporate Action with R-factor “1“ will be triggered for each product where contracts with fractional trading units exist.

This results in a one-off cash settlement of the fractional trading unit for already capital adjusted option series. In this special case, the version number of the adjusted series will not be incremented by the corporate action and only the trading unit will be changed (rounded up or down to the next integer).

An equalization payment will be made to neutralize the effect of rounding. Post the conversion, there will be no OSTK contracts with a fractional trading unit.

In simulation, there are 13 impacted OSTKs. The conversion will be split up into two slots and is followed by a corporate action.

Simulation

Alignment of the following:

13 OSTKs with fractional trading units with four decimals. Members will have the chance to test the Corporate Action Harmonization as per the below tables.

First slot:

BAS – r-factor 0.91961415 will lead to a TU of 108.7413, which will be rounded up to 109. 

Second slot:

ALV – r-factor of 0.88344051 will lead to a TU of 113.1938, which will be rounded down to 113.

Corporate action:

The planned conversion date for harmonization of corporate action processing in production is 14 November 2025. 

Increased R-factor

Currently, the r-factor is restricted to values up to 9999.99999999. In future, the r-factor will have the format decimal 14,8. This corresponds to a maximum value of 999999.99999999.

Members need to be able to handle the r-factor with the new max. value of 14,8 = 999999,99999999.

The scheduled focus day for the increased r-factor is 8 October 2025.

In addition, with the release of C7 12.0, Eurex Clearing is publishing two new documents: 

• C7 Clearing GUI - User Manual
• Eurex Clearing XML Reports - CSV Headerfiles - This report contains the headers of the CSV files for C7.

The following updated documents are also available:

• C7 Release Notes
• Eurex Clearing FIXML Interface Specification - Volume 4 and Volume 6
• C7 Derivatives Clearing Functional Reference Guide

All documents in connection with the introduction of C7 Release 12.0 are available for download on our dedicated initiative page for C7 Release 12.0 under the following path:

Support > Initiatives & Releases > C7 Releases > C7 Release 12.0 > System Documentation.

Learn now more about C7 Release 12.0 on our initiative page, where system documentation, circulars, timeline and much more information is available for you.

Members are kindly requested to review and update their contact details in the Member Section of Deutsche Börse Group to ensure accuracy and avoid outdated or incorrect information.

If you have questions or comments, please send an e-mail to client.services@eurex.com.

Kind regards,

Your Client Services Team

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