Euronext’s Cleared OTC Trade Facility

Euronext’s Cleared OTC Trade Facility allows to confirm a trade executed with another Euronext member on OTC for clearing purposes.

This functionality was previously offered on TCS under MiFID I and is rolled out on Euronext’s MIFID II tool, Saturn.

Saturn will report OTC trades in eligible equities, ETFs and rights that are passed through to the CCP (LCH SA and EuroCCP) to benefit from the central clearing guarantee.

The technical specifications for Cleared OTC Trades Facility are available for clients (please find the document below).

Euronext members wishing to use the Cleared OTC Trade Facility on Euronext instruments are required to submit the relevant documentation based on their profile:

  • If the member has signed the Web TCS Access Service Agreement, their subscription is conditional to acceptance of the Amendment letter of the TCS Web Service Access  Agreement, which covers TCS & Saturn Clearing services. Please countersign this document and return it to euronextmembership@euronext.com .
  • For all other cases, members shall sign the TCS & Saturn Clearing Facility Agreement.

If you have not received the TCS and Saturn Clearing facility Agreement, APA ARM Services Agreement or the Regulatory Reporting Solution Terms and Conditions, please contact EuronextMembership@euronext.com.

Euronext Cleared OTC Trades facility will be applicable to APA ARM services.

About Saturn

Saturn is a new, unique and dedicated tool which allows to monitor and manage the activities of reporting and publication.

Saturn covers services for: APA, ARM, non-MiFID members’ regulatory reporting, Commodities position reporting, Short Long Code (SLC) Manager and Cleared OTC Trade Facility.

For more detailed information on how to access Euronext services on Saturn, Market participants can refer to the web services specifications.

Documents

Saturn - Cleared OTC Trade Facility specifications v1.0