Format change 94B field effective 10 January 2022

Further to EuroCCP’s MIC code change effective 5 July 2021, we would like to make clients aware of a format change to the non-matching field 94B Place of Trade, to follow swift standards when cross venue netting code “VARI” is being used.

This change will only impact clients using EuroCCP’s settlement agent POA service and will be effective 10 January 2022. We request clients using this service to contact their respective settlement agents to ensure no impact and for clients wishing to test should contact EuroCCP’s client testing team at: [email protected]

Details of change:

Client’s settlement agents will see the below format change to the POA settlement instruction message sent by EuroCCP on their client’s behalf:

Current format:

:94B::TRAD//EXCH/VARI

New format:

:94B::TRAD//VARI

From EuroCCP’s previous review with clients and settlement agents, this non-matching field has limited usage today but will become more important in readiness for CSDR.

If you have any questions in the interim, then please contact your relationship manager.