| Market: | All |
| Products: | Derivatives |
| Date: | 13 February 2006 |
Euronext.liffe European Fee System (EFS)
Updates in the OPEJ files on Derivative Trading fees
This info flash informs Members that Euronext.liffe and LCH.Clearnet SA will introduce changes to the OPEJ files for Derivative Trading Fees on Tuesday 2nd May 2006.
Current situation:
OPEJ0, 1 and 2 files are prepared and disseminated by LCH.Clearnet SA to Clearing Members. The OPEJ0 and OPEJ1 files are populated with Derivative Clearing Fee information. The OPEJ2 files are populated with derivatives trading fees information
OPEJ3 files are prepared by Euronext.Liffe and disseminated by LCH.Clearnet SA for Members with Clearing activity on the Amsterdam derivatives segment only and contains both Derivative Clearing and Trading Fee information.
Changes:
Euronext.liffe and LCH.Clearnet SA have, as part of the ongoing demutualisation process, instigated a joint project to migrate the calculation of Derivative trading fees for Paris, Brussels and Lisbon markets from LCH.Clearnet SA onto the Euronext.liffe Derivatives fees system (EFS).
The changes are explained in the following chart:
| Files Vs Information | OPEJ2 | OPEJ3 |
| Trading fees information | Removed | Populated for all clearing segments |
| Clearing information | Unchanged | Unchanged for Amsterdam clearing segment, but not populated for the other segments |
| Files prepared by | LCH.Clearnet SA | Euronext.liffe |
| Files disseminated by | LCH.Clearnet SA | LCH.Clearnet SA |
Impact on members :
The format of the file OPEJ2 remains the same, but the content of the following fields of records CORR, TRANSFER and AFFE will change:
Trading fees amount set to zero value
Sign of trading fees amount set to “P” (Positive)
OPEJ3 file will then contain records CORR, TRANSFER and AFFE for Paris, Brussels and Lisbon derivatives segments with derivative trading fees information but without clearing information. These records will continue to be populated with derivative trading fees and clearing information on the Amsterdam derivatives clearing segment.
Members who do not receive OPEJ3 file will be contacted individually to prepare the parameterisation for receipt of the OPEJ3 file.
An updated OPEJ technical specification will be issued shortly.
No change expected in the dissemination files timeframe.
Testing period:
As from Monday 27th February 2006, members will be able to test these changes on the C21 Derivatives testing platform.
Support during this testing period is as follow:
OPEJ0, 1 and 2 file content queries LCH.Clearnet SA Operations Department on: +33 (0) 1 70 37 66 46.
OPEJ3 file content queries Euronext.liffe MS Service Desk on +44 (0) 207 379 2501
OPEJ0, 1, 2 and 3 routing or transfer of file queries CTS Helpdesk on: +33 (0) 1 49 27 50 50 or cts@euronext.com.
For further information, please contact: your LCH.Clearnet SA product implementation manager: Christophe Robert: +33 (0) 1 70 37 67 08. or your local relationship manager