(BCS) User - London Stock Exchange Group
Contents
1. Eg 100 00992 KAUPA 09 2009 9 0000 C 1S434R0 KAUPASIG H 100 Selecting the Filter command in the Configuration menu it s possible to choose rectified position display criteria Member Symbol Expiry Month Stike Price Put Call Isin Code Series name Account Type Volume Sign Status Table columns description fi Put Call Option type Put Call Series name Name of the series k s gt Operation sign increase decrease Operation status Y executed N not executed 30 September 2013 Sub Account Sub Account 5 6 Transferred Positions Through this menu it is possible to view positions transfers executed at current or at the specified date The user has to choose the reference market in the Market listbox before click the Download button E Positions Configuration Edit BER Positions List Rectified positions Transferred positions SubAccount changes Market EDX EDX DERIVATIVES MARKET Date 9 9 09 v i Gihoaeay Filters Del Member OFF Symbol Off v L S Off Tr Statel OFF Del Code Rec Member OFF v P cl OFF Prod Type off v TIR OFF Rec Code Del Info Rec Info Off OFF Filters on Transfer date Deliver member Receiver member ISIN code Series name Expiry month Strike price Transfer price Selecting the Filter commandin the2. Gross positionrectification Gross position rectification flag O a 29 30 September 2013 Product type Product type B bond C equity and fund quotes F future O option R repo V convertible W warrant ISIN Code ISIN Code Quantity Quantity 6 0 Trades This menu allow s management of executed trades registered in the clearing house system It is possible to dow nload the list of trades the history of a single trade and to access the functions of trade transfer split open close change and client code modification 6 1 Trades Using Trades menu user can access the following functions e download of company trades executed in the specified trading day contracts transfer e international give up e trades split e client code change allow s Subaccount change e Trade history For each trade detailed information is show n Atthe window opening a five tab dialog pops up 30 30 September 2013 e Trades list it show s the trade list and allow s separation transfer International Give Up open close and client code change operations and the trade history functionality e Transferred Trades it shows the transferred trades list e Separated Trades it show s the separated trades list e Open Close Changes it show s the list of trades whose open close flag has been changed e Client code Changes it show s the list of operations of client code change e Trade History it show s allth
3. sary London Fee Stock Exchange London Stock Exchange Derivatives Market LSEDM701 BCS User Manual Issue 1 0 30 September 2013 Contents 1 0 Introduction 4 6 0 Trades 30 1 1 About BCS 4 6 1 Trades 30 1 2 Work Environment 4 6 2 Trade Transfer 31 1 3 Getting Started 4 6 3 International Give up 34 1 4 Clearing Calendar 5 6 4 Trade Separation 35 6 5 Open Close Change 36 6 6 Client Code Change 37 6 7 Trade History 38 6 8 Transferred Trades 39 2 0 Application Layout 5 6 9 Separated Trades 41 6 10 Open Close Changes 42 2 1 Application Start 5 6 11 Client Code Changes 43 2 2 Main Window 6 2 3 Tool Bar 8 2 4 Command Selection 8 2 5 Change Password 8 7 0 Operations To Be Confirmed 45 7 1 Confirming Received Trades 45 3 0 Common Functions 9 3 1 Window Features Configuration 9 3 2 Quick Filters 10 8 0 Exercise and Assignments 48 3 3 Saving and Closing Windows 11 3 4 Data Print 11 8 1 Exercise Requests 48 3 5 Data Export to Excel or ASCII 11 8 2 Exercise Request History 50 8 3 Cancel Sent Early Exercise Requests 53 8 4 Expiry Exercises Requests 53 8 5 Ex by Ex Exercise Request 55 8 6 Assignments 56 4 0 Archives 11 4 1 Markets 12 4 2 Classes 12 4 3 Tradable Series 13 9 0 Report 57 4 4 Participants 15 4 5 Non clearing Members 16 9 1 Report 57 4 6 SubAccounts 17 Appendix A Regular Expressions 59 5 0 Positions 21 5 1 Positions 21 5 2 Position Rectification Request 21 5 3 SubAccount Changes 24 5
4. 4 1 Markets The Markets item show s the information concerning available markets EB Markets Configuration GE Filters off Id Acronym Alpha code Description 02 EDX E EDX EDX DERIVATIVES MARKET Selecting the Filter command in the Configuration menu it s possible to choose markets display criteria Id and Acronym Table columns description Id Market identification code Acronym Market identification name Alpha code Market alphanumeric code Description Market description 4 2 Classes Classes item show s information concerning the list of product groups i e products w ith the same underlying A class is a group of derivatives instruments options or futures with the same underlying Selecting the Filter commandin the Configuration menu it s possible to choose classes display criteria Symbol ISIN Underlying Type Market Product Group Settlement Type Option Underlying Type Option Style and Contract Size Symbol Class alphanumeric code Product Type Product type B bond C equity and fund quotes F future O option R repo V convertible W warrant Product Group Financial product reference groups i e a set of derivatives instruments belonging to different classes whose underlyings show correlated prices 12 30 September 2013 ac ioe Settlement Type Settlement type of a financial contract ST settled CSH cash settled FUT future style Number of shares underlying
5. willbe displayed In both cases it is possible to limit the search of Sub Account client code specifying Account Type and or the first letters of client code Sub Accounts Configuration Edit Subaccount List Customer Subaccount links Customer Subaccount changes Market EDX EDX DERIVATIVES MARKET v Account type House Client code Member Client code Sub account Creation Member 00992 v Account type Sub account 00992 MMPIPPO 8 OMN 00992 MMPLUTO H MM 8 TEST INS MM 19 30 September 2013 Sub account Sub account identifier Creationdate When the sub account w as created Modify date When the sub account w as modified Sub account status Sub account state Customer Sub Account changes This function allow s to display all modifications made during the current business day on client codes sub accounts associations for a specific Member included any new association In particular the selection of the Member field filters the list to its ow n modifications All displayed modifications willbe operative fromnext business day i Sub Accounts Configuration Edit Subaccount List Customer Subaccount links Customer Subaccount changes Member 00992 v PARAS Market Member Client code Account type Sub account Sub account change requesl EDX 00992 ANDREA1 C TEST Ing Client code Client code identifier Account type Accoun
6. 4 Exercise Request 24 5 5 Rectified Positions 25 5 6 Transferred Positions 27 5 7 SubAccount Changes 29 30 September 2013 a 1 0 Introduction This chapter describes the application and w ork environment main features It provide the user w ith the needed information aimed at its correct use 1 1 About BCS The BIS Clearing Station BCS for London Stock Exchange Derivatives Market is a GUI application allow ing an authorized user namely a Clearing House member to execute clearing operations on London Stock Exchange Derivatives Market markets traded financial products The application allow s to Receive trades executed by members in real time and their ow nnon clearing members in the current trade date and performtransfer split open close and client code change operations View the history of a specified trade Receive positions in real time and performrectify subaccount change and exercise operations Manage exercise and assignments operations Manage subaccounts Download clearing reference data Receive and save settlement reports provided by the clearing house 1 2 Work Environment The BIS Clearing Station is based on a client server architecture the server layer is located at one of the London Stock Exchange Derivatives Market server farms and connected to the Clearing House and markets through their netw ork access points On the other hand the client layer is installed on Clearing House mem
7. Configuration menu it s possible to choose transferred position display criteria Deliver Member Receiver Member Transfer Date Isin Code Series name Symbol Expiry month Strike Price Put Call DeliverAccount Receiver Account Volume Long Short Product Type Market and Transfer Price Deliver Member Sender ABI Code Receiver name Receiver name Transfer Date Transfer date 27 30 September 2013 Series name Name of the series Product type B bond C equity and fund quotes F future O option R repo V convertible W w arrant F 2 C S ns Status H Holding P Processed R Rejected C Cancelled ee EN 28 30 September 2013 5 7 SubAccount Changes This function allow s to display all assignments of positions to different sub accounts made by clearing house members These assignments and corresponding modifications w ill be displayed after having selected the reference market and the transfer date and clicked the Download button Configuration Edit Positions List Rectified positions Transferred positions SubAccount changes Market EDX EDX DERIVATIVES MARKET x Date 9 1 09 v PERS Si Market Member Request date Request time Long Short Account type Original sub account Sub account EDX 00992 9 1 09 12 51 15 PM L C OMN TES rr a j Long short Position type Long Short Accounttype Account Type House Client Original sub account Original sub account identifier ee
8. EDX Indivi 00961 OSL961 MEMBER 9 M961 0961 EDX Indivi 00800 EDX80D0 MEMBER T MEMO 0800 EDX Indivi 0091 ol EDX910 MEMBER T MEMS 0910 EDX Indivi 00911 EDX911 MEMBER T MEM1 0911 EDX Gene 0091 2 EDX91 2 MEMBER T MEM2 0912 EDX Gene 00915 EDX915 MEMBER T MEM3 0915 EDX Indivi 00990 EDX9390 MEMBER T MEM 0990 EDX Indivi 00992 EDX992 MEMBER T MEMS 0992 EDX Indivi 09599 SIMULATO SIMU 5099 EDX Gene me f Participant Code Member clearing code Member type Individual Clearing member Non Clearing member General Clearing member 4 5 Non clearing Members Non clearing members item show s for each available market the ow n company non clearing members list 16 30 September 2013 Non cleari ng members f BA Configuration EDX EDX DERIVATIVES MARKET yl ABI code CEDcode Description Mnemonic Partecipant code Market Type 00992 EDX992 MEMBER T MEMS 0992 EDX Individual Din ES 4 6 SubAccounts Subaccounts menu allow s to display the list of sub accounts for each market and w hich members client codes are assigned to After Subaccounts menu has been opened a w indow with three labels appears 1 Subaccount list displays foreach market the list of sub accounts 2 Customer Subaccount links displays client code sub account associations foreach e
9. and end by o we will write a o to indicate all these strings w hich share the characteristic to start by a and end by o The follow ing strings belong to the set mentioned above ao ago also but not aristotelis or psycho The character used into the regular expression indicate w hatever sequence of characters x character Finds a single character into the brackets For instance abc looks for an a a b or a c a z is an interval and finds every small character of the alphabet Mixed cases can occur abcq z looks for b c q r s t u V W X y Z just as a cq z Finds every small character not included into the brackets For instance abc finds A all the characters different than a b o c az looks for every character different than small letter Indicates the beginning of the string a Indicates the end of the string Define a sub expression 59 30 September 2013 X and Y are regular expressions examples e ab all the strings which start by a or b AN ay e a c a all the strings w hich start by a b e c but w hich end by a ta e s 2 all the strings w hich have two s at any point of the sequence e cu t p strings w hich end by cut and cup 60 Copyright London Stock Exchange Global Holdings Limited Registered in England and W
10. t is possible to transfer trades on both house and client accounts and only to counterparts other than the member or house itself Transfer trades Sel Unsel ISIN code Contract number Symbol Trade date Expiration month Strike price Put Call Buy Sell Open Close Trade price Quantity V SE05U464WFC5 2186 SWEBA 9 4109 11 2009 0 0000 s is 0 0100 1 Total Quantity 1 Mean Weighted Price 0 0100 Receiver Member 00800 v MEMBER TESTO Operational steps description 1 Insert the quantity of the trade to be transferred into the Quantity field 30 September 2013 2 Select Yes or Not option to access the gross position rectification function this option allow s to increase automatically positions in case a positions lack occurs in the time frame betw een the request sending and counterpart s acceptance due to market executed trades on the transferred series 3 insert data into the Additional Info optional 4 Select the ABI code and description of Receiver Member 5 Press the OK button to confirm A confirmation message informs the user the that the transaction has been successfully committed 6 3 International Give up To execute the International Give up select the single or multiple trade row sin the Trade Transfers window and access the quick selection menu This function is available only on T trades The International Give up function allow s the user to transfertrades at ex
11. the account type House Client and the position type The rectification is allow ed for both client and house account types 21 30 September 2013 Configuration Edit Positions List Rectified positions Transferred positions SubAccount changes Market EDX EDX DERIVATIVES MARKET Account type House Position type Ordinary v Filters Member OFF ig Symbol OFF v Prod Type OFF vi PiC OFF v Sub account OFF i gt Filters off Member Symbol Account type Expiration month Product type Market Strike price Put Call ISIN code Seri 00992 AZA H 06 2012 O EDX 8 0000 C GB1CCU AZA 00992 ERICB H 09 2009 0 EDX 64 0000 C US1G629 ERI 00992 ERICB H 03 2010 F EDX 0 0000 US1U7P5 ERI 00992 KAUP H 09 2009 O EDX 6 0000 C ISSLHMO KAL naa SWFRAI HI nanna al Fox an nnnni cl SFiwGR RWF Selecting the Filter command in the Configuration menu it s possible to choose position display criteria Member Symbol Account Type Expiry Month Product Type market Stike Price Put Call Isin Code Series name Long Short Opening Date Last Operation Transfer Price i ci Product Type Product type B bond C equity and fund quotes F future O option R repo V convertible W w arrant Trading Market le 30 September 2013 Short Short current positions eee a me O 7 C Once selected the row of the position to rectify
12. the user can access to the corresponding quick selection menu Rectify Rectify Position dialog w indow allows to increase decrease positions on house client accounts Rectify position Volume G Increase O Decrease Close Operational steps description 23 30 September 2013 1 Insert the amount of positions to be adjusted into the Volume field 2 Select the Increase or Decrease option 3 Press OK button to confirm A confirmation message informs the user that the transaction has been successfully committed 5 3 SubAccount Changes This function allow s to change the sub account of a specific position Once selected a position itis possible to assign it to a different sub account contextually itis possible to make a modification of gross position rectification and to assign a part of the original positionto the new sub account The operation is committed to the systemby clicking the OKbutton Ei SubAccount changes Sel Unsel Deliver member Account type Original sub account ISIN code Quantity Long Short Sub account Gross posit 00992 H MM US1DC5LX8NF2 tong OCshort OvYes G 5 4 Exercise Request This function allow s to execute an early exercise request on the specified position Right click ona position in the positions list in order to access this function 24 30 September 2013 K Exercise request Market id Abi code ISIN code Serie Name Ac
13. w hen the mouse focus is on the filter box by pressing ESC key In filters w here editing is allow ed regular expressions can be used to filter data set of interest See Appendix A Regular Expressions Ctrl W sequence key allow s to show hide the w indow tool bar as w ell as quick filters Quick filers are not saved during client logout procedure 3 3 Saving and Closing Windows Window s property set via Configuration menu commands i e static filters characters colors sort criteria etc can be saved The Save Environmentcommand in the File menu of the main tool bar w indow allows saving the current configuration of the windows Furthermore the current configuration is saved before closing and exiting the BCS client 3 4 Data Print Many windows allow printing displayed data to a configured printer LS The Print Preview command allows viewing data before printing The Print command allows sending data to a configured printer Only data show non the screen are printed hidden columns if any or filtered data w ill not be printed 3 5 Data Export to Excel or ASCII 7 The Save command allows saving w indows data to an Excel spreadsheet or ASCIVPDF file 4 0 Archives This menu displays clearing static data like available markets product classes tradable series and clearing house members It also allows every member to display sub accounts and client codes assigned to different sub accounts 11 30 September 2013
14. 300 11 23 09 KALIPA qannnn FDY ISAICRP KAI IPAAI IQ at ina lt l uo uu O O p O O pO O DO 2 O O O m OJO OOO JO OO OOO OO O O IO Selecting the Filter command in the Configuration menu it s possible to choose tradable Series display criteria ISIN Series name Symbol Type Put Call Market Id Strike Price Expiry Date Open Interest and Delivery Type Symbol Product alphanumeric Symbol Product type Product type B bond C equity and fund quotes F future O option R repo V convertible W w arrant Put Call Option type Put Call 2 ici 14 30 September 2013 Last Trading Day Last Trading Date Closing Price Daily settlement price closing price Last Day Price Last day settlement price Closing Price Date Closing price reference date Underlying Price Underlying product reference price 4 4 Participants Participants item show s foreach available market clearing and non clearing members list 15 30 September 2013 gt Participants Configuration Edit EDX EDX DERIVATIVES MARKET WEAN ABI code CEDcode Description Mnemonic Participant code Market Type 09500 00009500 BORSA ITA BRTL 0500 EDX Gene 04444 4444 CCP OSL CCPO 4444 EDx Gene 00913 MEMBER 9 M913 0913 EDX Indivi 00940 OSL940 MEMBER 9 M940 0940 EDX Gene 00942 OSL942 MEMBER 9 M942 0942
15. Abi code of the company w hich has executed the exercise request Symbol Series identification code 50 30 September 2013 ISIN Code Option ISIN Code BARER C E Expiration Expiration Month month Account Type Account Type House Client eee Sub account of the position associated with the operation Total exercise Total exercise quantity quantity el Request current validity status P Processed C Cleared ITM OTM in the money out of the money amount amount Exercises by exception sent After the market and the clearing member empty for the General Clearing Member have been selected push the Dow nload button to receive the list of sent ex by ex exercise requests Select ITMOTM flags in order to receive exclusively in the money or out of the money positions requests if the flag is not specified all the requests w ill be displayed 51 30 September 2013 amp Exercise request history Configuration Edit Early exercises sent Exercises by exception sent Market IDEM ITALIAN DERIVATIVES MARKET v Abi code vio v ri P E Y Q Filters ABI code OFF Isin Code OFF Symbol Off Account type OFF ITM OTM OFF Strike OFF Put Call OFF w Sub account Off w Filters off Market ABI code Proposed quantity Requested quantity ISIN code Symbol Accounttype Expiration month Str
16. Product type Series type Requested Requested quantity quantity Proposed Proposed quantity quantity Proposed price Underlying price ITM OTM in the money out of the money amount amount 8 5 Ex by Ex Exercise Request This function allow s to exercise out of the money options proposed by the clearing house on expiry or to abandon in the money ones In order to access the function just right click on a row in the list of the expiry requests x Exercise request Market id Abi code ISIN code Account type Sub account Quantity Exercise type Additional info Proposed positions 6 Positions to exercise 6 Positions to abandon o Just insert the quantity and additional information in the optional free text field Then click OK 30 September 2013 In case the user w ants to exercise an out of the money position a pop up message w ill appear requiring the user confirmation before proceeding The list of exercise requests can be seen through the Exercise Assignments main menu into the Exercise Request History submenu Please notice Is possible to performan ex by ex also in the Exercise Request window that can be reached fromthe Exercise Assignment main menu 8 6 Assignments Push the Assignments button to get the list of assignments received by the clearing house The calendar date has to be selected along with market and clearing member empty for GeneralClearing Member to push the Download b
17. a standard contract Option Underlying Financial instrument type Bond Equity Index Option Style Option style American European Settlement days Number of days betw een trade and settlement date 4 3 Tradable Series Tradable series item show s the list of the standard tradable series on current date 13 30 September 2013 B Tradable series Configuration Edit Ghee Symbol Product type Strike price Put Call Market ISIN code Series name Expiry day Last trading MAERSK 11 0000 EDX US1386V 8 24 09 A MNOD 41 0000 EDX US4ASC7 MNODSJ41 10 19 09 107 PGS 29 0000 EDX NOQK4PI PGS9V29 10 19 09 10 ZB 3 5000 EDX NO1QEV 8 1 7 09 8 AZA 14 0000 EDX GBO49UY 8 17 09 8 DNBN 23 0000 EDX NO4A51L 8 1 7 09 8 RIOB 1 300 0000 EDX US6AJS3 RIOB9I1300 9 21 09 9 zB 1 0000 EDX NO3628F ZBOA1 1 18 10 1 PGS 10 0000 EDX NOTLXQB PGSOP10 4 19 10 4 SEBA 26 0000 EDX US3XKDY SEBAOA26 1 18 10 1 DNBN 1 0000 EDX NOUDHD DNBNOR1A1 4 24 11 1 KAUP 8 0000 EDX IS5AT79F 8 17109 8 YAR 14 0000 EDX NOAX30QY YAROM14 1118 10 1 DNBN 18 0000 EDX NO66IV7 DNBNOR 1 1124111 YAR 5 5000 EDX N056DX YARSI5 50 9 21 09 RIOB 1 230 0000 EDX US6RLYV RIOBSVV1 230 41 23 09 OGZ 0 0000 EDX USSX3WV OGZIR 6 25 11 YAR 0 0000 EDX NOD FR YARSY 10 16 09 SWEBA 44 0000 EDxX SE2GB76 SVWEBASL44 42 21 09 MNOD 40 0000 EDX US3M2N MNODSI40 9 21 09 RIOB 1 300 0000 EDX USB6Y3CL RIOB9VV1
18. ales No 06132421 London Stock Exchange Global Holdings Limited has used all reasonable efforts to ensure that the information contained in this publication is Correct at the time of going to press but shall not be liable for decisions made in reliance on it London Stock Exchange is a registered trade mark of London Stock Eons plc London Stock Exchange is a registered trade mark of London Stock Exchange Global Holdings Limited Stock Exchange
19. ber Press OK button to confirm A confirmation message informs the user that the transaction has been successfully committed 6 4 Trade Separation To execute the Separation command select the trade row inthe Trades List window and access the quick selection menu The Separation function allow s the user to split any trade into 8 trades at maximum each one of different volume amount The total amount of the separated trades mustbe equal to the volume of the original trade This function is allow ed on T and T 1 The client do not prevent the separation of trades either on client or house account It should be noticed that separation of trades on client account or and house account it s a Clearing House specific rule 35 30 September 2013 Split Contract Contract number 21 Open Close Client info ABI Code Account type Client code Quantity Side Trade date Isin Code Price Split quantity Client code Client info Contract number 1 1 Total 0 Remaining 2 Rectify position OY N Cancel Operational steps description 1 Insert the amount of trade to be split into the Split quantity field 2 insert data into the Client Code field optional 3 Insert data into the Client Info field optional 4 Repeat these operational steps until the remaining quantity w illbe equal to 0 5 Select Yes or Not option to access the gross position rectification functio
20. ber Contract number assigned by the market Contract state The state of the contract T trade C trade cancel Trade Source M Market G International Give Up L Local Give Up S Split D 32 30 September 2013 Data Entry ow TT Market Source Market Source of the trade RegularTrade AsOfTrade Strategy LateTrade Implied ExchangeGranted1 ExchangeGranted2 Cross Cross Block Committed Committed Block BuyMakerTaker Buy Side Maker Taker M Maker T Taker Blank in case of Cross Cross Block Committed Block Committed trades SellMakerTaker Sell Side Maker Taker V Maker T Taker Blank in case of Cross Cross Block Committed Block Committed trades Select the single or multiple row s of the chosen trades and access the Transfer command through the quick selection menu by clicking on the right button Trades Transfer dialog w indow allows to senda single or multiple transfer request for trades executedto a counterpart w hois a clearing house member This function is allow ed only on T 1 trades besides performing the trade transfer this function executes the settlement of the variation margins or the premium as w ell according to the execution price of the trade It is also possible to transfer a partial number of lots of the trade thus allow ing the lots to be assigned to several clearing brokers The clearing house systemprocesses the transfer only after the counterpart has accepted the received trade
21. bers PCs BCS client is the sole comprehensive solution for all London Stock Exchange Derivatives Market clearing functionalities The electronic platform supporting the client application is structured to make its access independent fromthe technical frame features of central systems 1 3 Getting Started In order to access to the clearing services through BCS the user needs a login name a passw ord anda Member Code This is requested from Turquoise BCS client can be dow nloaded fromthe Internet and installed on one or more members PCs The BCS workstation needs Java Virtual Machine V 1 5 or higher A compatible version of the JVM willbe installed during the setup process of the BCS Client The client can be used to reach production or test environment By default the Client w ill point to the production environment The user can select the desired environment at the startup in the login w indow In case of NAT address the user has to do the follow ing Close the BCS Client if running 30 September 2013 Go into the BCS Client installation directory usually C Program Files BISystems BCS Client XXX Look for the etc directory Change the file GKApi_J_Version cfg in the etc Server directory specifying the correspondent IP Address The BCS Client canbe launched also using a w eb browser as a Java applet application Tw o w ebsites are available for this purpose one for the production and one
22. count type Sub account Quantity Exercise type Additional info Cancel The user has to specify the amount to exercise he can also specify additional information in the free text field before Click Insert In case the user w ants to exercise an out of the money position a pop up message w ill appear requiring the user confirmation before proceeding I s possible to dow nload the historical list of exercises through the client Exercise Assignments main menu in the Exercise Request History sub menu Please notice Anearly exercise can be executed also in the Exercise Request window that can be reached through the Exercise Assignments main menu 5 5 Rectified Positions Through this menu it is possible to view positions rectifications executed at current or at the specified date 25 30 September 2013 Configuration Edit Positions List Rectified positions Transferred positions SubAccount changes FE Eb EDe8 v Filters Member OFF Symbol OFF s P C OFF v AccType OFF v Status OFF w Filters off Member Symbol Expirationmonth Strike price Put Call ISIN code Series name Accounttype Volume Sign 00992 DANSKE 01 2010 1 080 0000 C USCOUJR DANSKEDA C 1 00992 DANSKE 01 2010 1 080 0000 C USCOJR DANSKEDA C 1 00992 DANSKE 01 2010 1 080 0000 C USCOJR DANSKEDA C 1 00992 KAUPA 09 2009 9 0000 C 1S434R0 KAUPASIG
23. d button 2 Trades Configuration Edit Trades list Transferred trades Separated trades Open Close Changes Client Code Changes Date 9 7 09 Market EDX EDX DERIVATIVES MARKET v PARAS Market Deliver member Trade date Contract number Market contract number Account type Sub account Symbol 42 30 September 2013 Deliver member Deliver member ABI Code ol ca io ic C 5 6 11 Client Code Changes 43 30 September 2013 The trades list for w hich a client code change has been made canbe displayed using this menu on current or previous days after having selected the reference market and clicked the Dow nload button Configuration Edit Trades list Transferred trades Separated trades Open Close Changes Client Code Changes Date 9 1 09 v Market EDX EDX DERIVATIVES MARKET ASEE Market Deliver member Trade date Contract number Market contract number Buy Sell Account type Open Se EN 44 30 September 2013 Strike price Strike price a 7 0 Operations To Be Confirmed This menu allow s to accept or reject trade transfers received fromanother clearing member 7 1 Confirming Received Trades This function allow s to accept reject letting the request expire at the end of trading day a trade transfer international give up received by aclearing house counterpart Only after the user has accepted the received trade the clearing house systemw ill performthe
24. e clearing operations on the selected trade in w hich the customer is involv ed 6 2 Trade Transfer To execute a trade transfer the customer has to dow nload the trade list The user has to select the Market the Date the Account Type House Client and the Trade Side Buy Sell General Clearing Members view ownstrades and those of their Non Clearing Members t is possible to transfer trades on both house and client accounts but only to counterparts other than the member itself Configuration Edit Trades list Transferred trades Separated trades Open Close Changes Client Code Changes Date 9 7 09 v Market EDX EDX DERIVATIVES MARKET v Filters ABI Code OFf v Client codel OFF s Symbol off pic OFF B S OFF Filters off ABI Code ISIN code Series name Order number Contract number Original contract number 00992 USIWC ERICBOR 2181 00992 GB1CCU AZA2F8 2182 00992 GB1CCU AZA2F8 2182 Selecting the Filter command in the Configuration menu it s possible to choose trades display criteria Contract Number ABI Code ISIN Code Series name Order number Market Contract Number Contract state Account Type Symbol Expiration Month Strike Price Put Call Buy Sell Open Close Trade Price Quantity Trader Id Client Code Client Info Market BuyMakerTaker SellMakerTaker 31 30 September 2013 Order number Unique identifier of the order Market contract num
25. ecution price on trade date to another member This function is available only on T trades Besides performing the trade transfer this function executes the settlement of the variation margins or the premium as w ell according to the execution price of the trade Only the clearer is due to deposit initial margins The clearing house systemprocesses the transfer only after the counterpart has accepted the received trade t is possible to transfer trades on both house and client accounts and only to counterparts other than the member or house itself Transfer trades Sel Unsel ISIN code Contract number Symbol Trade date Expiration month Strike price Put Call Buy Sell Open Close Trade price Quantity SE05U464WFC5 2186 SWEBA 9 4109 11 2009 0 0000 S o 0 0100 1 Total Quantity 1 Mean Weighted Price 0 0100 Receiver Member 00800 MEMBER TESTO 34 30 September 2013 Operational steps description 1 Only the overall amount of trade can be transferred The Quantity field cannot be modified Select Yes or Not option to access the gross position rectification function this option allow s to increase automatically positions in case a positions lack occurs in the time frame betw een the request sending and counterpart s acceptance due to market executed trades on the transferred series Insert data into the Additional Info field optional Select the ABI code and description of Receiver Mem
26. et contract nun 39 30 September 2013 Selecting the Filter command in the Configuration menu it s possible to choose transferred trades display criteria Deliver Member Receiver Member Contract Number Market contract number Contract Date Transfer Date Trade Price Symbol ISIN Code Series name Expiration Month Strike Price Put Call Buy Sell Deliver Account Receiver Account Quantity Transfer State Transferred Received Deliver Info Receiver Info Additional Info Deliver Code Receiver Code Market and Transfer Mode Table columns description Symbol Alphanumeric symbol of underlying product ae isis 40 30 September 2013 Quantity Transferred quantity Status H Holding P Processed R Rejected C Cancelled LF a Client information of receiver merrber lm C S 6 9 Separated Trades Separated trades can be view ed through this menu on current or previous dates 2 Trades Configuration Edit Trades list Transferred trades Separated trades Open Close Changes Client Code Changes Date 9 3 09 v PERSAN Contract number Original contract number Market contract number Series name Trade date Buy Se Table columns description 30 September 2013 Client information 6 10 Open Close Changes Trade list w hose open close flag has been changed can be view ed through this menu on current or previous dates after having selected the reference market and clicked the Dow nloa
27. exercise Exception in the combo box 7 Insert any additional information into the Client Info field 8 Press Insertto confirm 30 September 2013 In case the user w ants to exercise early ex by ex an out of the money position a pop up message w ill appear requiring the user confirmation before proceeding Please notice Anearly exercise can be executed also in the Position List window reachable fromthe Positions item of the main menu Anex by ex exercise can be executed also in the Expiry Exercises Request window which can be accessed fromthe Exercise Assignments itemin the main menu 8 2 Exercise Request History The Exercise Request History item show sthe list of executed ex by ex and early exercise requests Early exercises sent After having selected date market and participant empty for General Clearing Member is possible to dow nload the list of early exercise requests sent to the system k Exercise request history DER Configuration Edit Early exercises sent Exercises by exception sent Date 9 9 09 Market EDX EDX DERIVATIVES MARKET v abi code 00992 v bs Filters ABI codel OFF x Isin codel OFF a oO w Symbol Off v Account type OFF v Expiration month OFF v Strike OFF v Put Call off w Sub accounti Off v Filters off Market ABI code Quantity ISIN code Series name Expiration month Put Call Reques ED 00992 1 USICLY72 ERICB9I60 09 2009 60 000 FE me
28. for the test environment Please notice the user is not allow ed to put chars and in free fields otherw ise an error message w ill be shown on the GUI 1 4 Clearing Calendar A configuration file namely lt installation directory gt Clearing Client etc client Common config the default lt installation directory gt is C Program BitSystems allow s the user to define the current year calendar with holidays An example of the holiday configuration file is show n hereafter HOLIDAY S SUNDAY SATURDAY 501 01 EASTER EA STER 1 EASTER 1 EASTER 2 01 05 15 08 CHRISTMAS CHRIS TMAS 1 CHRIS TMAS 1 31 12 Where Field separator character SUNDAY every Sunday of the year SATURDAY every Saturday of the year EASTER Easter date CHRISTMAS Christmas date EASTER n Easter or specific number of days CHRISTMAS n Christmas or specific number of days dd mm specific date of the year 2 0 Application Layout This chapter provides basic instructions to start the application and a description of the menus and main w indow commands 2 1 Application Start 30 September 2013 BCS can be started via the Microsoft Windows Start menu by selecting the respective option then clicking BCS on the submenus accessed in quick succession The follow ing System Login w indow pops up BCS System Login Borsa Italiana w ondon Stock Exchan
29. ge Group Username Password Member code Environment Username Passw ord Member Code and Environment must be entered in the fields Passw ord is case sensitive Once done the Login button or the Enter key gives access to the application e PDC Production e CDS Test 2 2 Main Window After the user has been authenticated the BCS top level tool bar on w hich username is show n appears on the screen it is made up of three functional sections Menu Bar Tool Bar through which it s possible to access directly the menu commands and Active Window s Bar BItS Clearing Station 992 MAX File Archives Positions Trades Tobe confirmed Exercise Assignments Report Help wie Eee 4 30 September 2013 Menu Bar The Menu Bar contains the follow ing menus and commands File Archives Positions Trades Login Save Environment Change Passw ord Exit Markets Classes Tradable Series Participants Non Clearing members Sub Accounts Positions Trades Transferred trades to be confirmed Transferred trades to be confirmed Activates the systementry contrc Saves the w indows configuration Change the current password Application exit List of the available markets Listof the classes List of the tradable series Clearing participants list list of ow n non clearing members list of secondary accounts for eve Increase or decrease the volume exercises execu
30. ike Put Call Adc DER 95000 7 2 17200000 CPR Cc 0412008 10 40 O OOOO O S O ER ER ITM OTM In the money Out of the money Expiration Expiration month month Account Type Account type House Client eee Sub account of the position associated to the operation Exercise time Time exercise request has been forwarded Date exercise request has been forwarded 52 30 September 2013 Additional info Free text additional info Quantity Executed option quantity Product type Series typology Requested Requested quantity quantity Proposed Proposed quantity quantity Underlying price Underlying price Request current validity status P Processed C Cleared ITM OTM in the money out of the money amount amount Please notice In this case a functionality to cancel ex by ex requests is not available because the last exercise request always overwrite the former for each series To cancel an ex by ex request send another request w ith quantity 0 8 3 Cancel Sent Early Exercise Requests In order to activate the function select one or more early exercise requests in the early exercises list k Cancel early exercise request Sel Unsel Market ABI code Quantity ISIN code Symbol Account type Expiration month Strike Put all Request key v EDX DD0992 1 US1CLY72LT03 ERICB c 200909 60 000000 C 900047 Push the OK button to confirmthe operation 8 4 Expir
31. ive up MT15 Options Received under give up MT48 Monthly Fee Report MT55 Net Positions of Futures Contracts MT62 Futures Contracts s k MX01 Expiring Options MX04 Stock Options Assigned at Maturity BOG Report type identification code PDF PDF Report availability status XML XML Report availability status TXT TXT Report availability status Operational steps description 1 Select the Date and press Download button to view available reports for that date 30 September 2013 2 lf a GCM General Clearing Member more than one tab w ill appear allow ing to select the participant for which to dow nload the report 3 Select the row of the desired report and right click on the row Depending on the availability of the formats the option is to open them Show Report as or save themin the local PC Save Report as i Save report as N xm TXT Expired Options 9 The report w indow always shows the most recent version of a report incase more than one update is sent during the same day Option Open Positions Failed Position Appendix A Regular Expressions A regular expression is a string sequence of characters built w ith a proper syntax which express characteristics shared by a setof strings Assume the intention is to use a notation to indicate all the strings w hich begin by a
32. n 6 Press the Submit button to confirm A confirmation message informs the user that the transaction has been successfully committed the new trade numbers originated by the separation w illbe show n in the Contract Num ber column of the w indow dialog 6 5 Open Close Change To execute the Open Close Change command select the single or multiple trade row s in the Trades List window and access the quick selection menu 36 30 September 2013 Open Close trade Sel Unsel Contract number Market Buy Sell Open Close Transaction result v 2182 EDX B Open Close Operational steps description 1 Select the Open or Close flag option 2 Press OK button to confirm A confirmation message informs the user that the transaction has been successfully committed 6 6 Client Code Change To execute the Client Code Change command the customer has to select a trade in the Trades List window and to access the corresponding menu A dialog w indow appears in w hich the user has to specify the new client code and optionally the Clientinfo Change client code Sel Unsel Contract number Market Buy Sell Client code Gross position rectification Client info Transaction result M 2182 EDX B CBuyDest O Yes No TEST_BUY_NT_ 37 30 September 2013 Pushing the OK button the market receives the operation a confirmation message w illbe received by the user The client code change allow s to performalso s
33. pe new password Click the OK button to send the new password to the system or click Reset to cancel the values in the blanks 30 September 2013 3 0 Common Functions The aim of this chapter is to describe some commonly used functions such as operations on displayed data window featuresc onfiguration data sort criteria data filters data export functions 3 1 Window Features Configuration Every window is provided with a Configuration menu that allow s the setup of some w indow features WE The Setting window appears by selecting the Option command in the Configuration menu of each w indow This w indow allows to Columns Show hide columns Font Character type and dimension configuration Foreground Textrowscolor configuration Background Table rowsbackground colors configuration Sort Sort row s according to specific criteria Settings dialog Select visible columns Font Foreground Background Symbol Sort Product type Product group Description Market ISIN code lt Add Underlying Margin interval Settlement type Contract size Option underlying type Option style v Visible columns Add gt Add all gt gt Hidden columns The Filter command in the Configuration menu allow s the activation of selection criteria for data display 30 September 2013 Filters active ABI code x ISIN code Less or equals than Series name C Mare or equals than Acco
34. piration month Put Call Put Call fee H Holding P Processed R Rejected C Cancelled Status repo V convertible W w arrant Product Type Product type B bond C equity and fund quotes F future O option R Client information of receiver member Client Code of receiver member veo In order to confirmreceived trades select the single or multiple rows and via quick selection menu right button on mouse access to the follow ing dialog 30 September 2013 Fu Confirm trade transfer Sel Unsel Deliver member Deliver name Receiver member ISIN code Contract number Symbol Expiration mont 95000 BORSA ITALIANA FOR EDX 00992 GB1CCUIKTRS 2185 AZA 06 20 Total Quantity Mean Weighted Price Confirm Reject 1 Select Open Close option 2 Select the Account Type House Client 3 Insert data into the Client code field optional 4 Insert data into the Client info field optional 5 Select Confirm or Reject The clearing systemlets transfer requests expire at the end of trading day if no action is executed 6 Press OK to confirm A confirmation message informs the user that the transaction has been successfully committed 8 0 Exercise and Assignments Exercise menu allow s the user to send early exercise or ex by ex requests Furthermore itis possible to display all the exercise requests executed on a specific date on house client account all the ex by ex requests the exercise propo
35. sals on expiry and the assignment messages received by the clearing house 8 1 Exercise Requests The Exercise Request command allow s the user to send 48 30 September 2013 1 Early exercise requests on an American type option 2 Ex by ex exercise requests to partially or entirely exercise an out of the money option w hich would be otherw ise abandoned by the clearing house 3 Ex by ex exercise requests to entirely abandon an in the money option w hich would be otherwise exercised by the clearing house Each of these actions can be performed via the Exercise Request dialog K Exercise request Market id EDX EDX DERIVATIVES MARKET v Abi code 00992 v ISIN code v Serie Name v Account type Sub account Quantity Exercise type Early exercise Additional info Cancel Operational steps description 1 Select a market into the Marketld field and insert the ISIN code of the option to exercise into the ISIN Code field also select the option to exercise in the Series name field that w ill automatically setthe ISIN into the ISIN code field 2 Select the clearing member into the Abi Code field 3 Select H option in the Account type field to exercise the option on house account or select C for Client 4 Select the subaccount associated to the position to execise in the SubAccount field 5 Insert the volume to exercise in the Quantity field 6 Select the Exercise Type Early
36. t type House Client 20 30 September 2013 Sub account change request Description of requested operation type Sub account change time Time at which the request was made 5 0 Positions This menu allow s users to manage positions registered in the clearing house It is possible to dow nload the positions list and to access the functions of positions rectification subaccount change and early exercise 5 1 Positions Positions menu displays open positions registered on Members accounts in the clearing house and allow s to execute rectifications early exercises and s ub account change operations Once selected Positions menu a four tabs w indow pops up Positions list it shows the list of executed operations and open positions held at the clearing house For each open position it is possible to access the Rectify SubAccount Change and Exercise Request commands via the quick selection menu Rectified positions it show s the rectified positions list Transferred positions it shows the transferred positions list SubAccounts Changes it show s the list of positions modified by a SubAccount Change operation 5 2 Position Rectification Request In order to access the position Rectify command the user has to display the open positions list by selecting the Positions tab The user is required to select the market fromw hich to obtain the list of open positions among markets available in the appropriate summary box
37. tion whole or pal position into a different sub acco International give up contract tra open close change client code m Received trades accept Received trades accept 30 September 2013 2 3 Tool Bar The main w indow toolbar is located under the menu bar It gives quick access to the most frequently used commands which are mapped to specific buttons Each command can be activated by clicking on the corresponding button Tw olights appear on the tool bar 1 A firstlight stands for the centralized layer server client connection status greer red 2 A second light indicates the operational status of the clearing system green red 2 4 Command Selection A command is an instruction through w hich BCS executes a specific operation Commands can be selected from e Menu bar e Toolbar e Quick selection menu after a BCS object has been selected its specific commands quick selection menu canbe show n by clicking on the mouse right button The quick selection menu can be closed if no command has been selected just by clicking anyw here outside it 2 5 Change Password In the File menu click Change Passw ord the follow ing window will appear showing the username and the member code and allow ing the user to change the current password to anew value Change password Bit Systems London Stock Exchange Group Username 992_ANDREA Member Code 0992 Password New password Rety
38. transfer Received trades can be allocated on house or client account Transferredtrades received by the clearing house members are shown if available on command selection after having selected the reference market and clicked the Dow nload button 45 30 September 2013 Configuration Edit Market EDX EDX DERIVATIVES MARKET v Gi Flas ay Filters Del Member OFF v PIC Off v Del Account OFF v Tr State OFF Del Info OFF Rec Member OFF v BIS OFF vw Rec Account OFF v Prod Type OFF Rec Info OFF Filters off Deliver member Receiver member ISIN code Series name Buy Sell Contract number Market contract number 95000 00992 GB1CCU AZA2F8 RE 8 2185 Selecting the Filter command in the Configuration menu it s possible to choose transferred trades display criteria Deliver Member Receiver Member Contract Number Market contract number Contract Date Transfer Date Trade Price Symbol ISIN Code Series name Expiration Month Strike Price Put Call Buy Sell Deliver Account Receiver Account Quantity Transfer State Transferred Received Deliver Info Receiver Info Additional Info Deliver Code Receiver Code Market and Product Type Receiver Name Receiver Name Contract Num ber Contract Number assigned by the clearing house Marketcontract Contract number assigned by the market number a j 46 30 September 2013 Expiration Month Ex
39. ubaccount changes these actions are executedby the systemw hen a client code associated to the specific functionality is inserted 6 7 Trade History This functionality allow s to view all the clearing operations done ona selected trade in w hich the customer is involved To access this functionality the customer has to select a trade in the Trade Listw indow and right click to select the Trade History option A window will appear showing a line for each clearing operation done on the trade that involve the customer Table columns description Goa kg Strike Price Strike Price Put Call Option type Put Call 38 30 September 2013 Client alphanumeric Code rr em _ Clearing operation 6 8 Transferred Trades Trade transfers executed on current or previous dates can be view ed through this menu after having selected the reference market and clicked the Dow nload button Configuration Edit Trades list Transferred trades Separated trades Open Close Changes Client Code Changes Date 9 4 09 v Market EDX EDX DERIVATIVES MARKET Gb Y ae Filters DelMember OFF v Symbol OFF s PIC OFF V Del Code OFF Del Info OFF Rec Member OFF w Tr State OFF w BIS OFF Rec Code OFF v Rec Info OFF Filters off Deliver member ISIN code Series name Receiver member Contract number Original contract number 95000 US1DC5 ERICB9U6 00992 2181 Mark
40. unt type Symbol Expiration month Buy Sell Open Close Trade price Quantity Client code Client info EFTER Filters w here editing is allow ed regular expressions can be used to isolate the data set of interest See Appendix A Regular Expressions 4 The Toggle View command in the Configuration menu allow s to show hide the w indow tool bar Alternatively it is possible to use the function key Ctrl W 3 2 Quick Filters Many windows allow the user to set quick filters E Positions Configuration Edit Positions List Rectified positions Transferred positions SubAccount changes Market EDX EDX DERIVATIVES MARKET Account type Client Position type Ordinary v Filters Member OFF Eo Symbol OFF Mi Prod Type OFF v PIC OFF B Sub account OFF Filters off Member Product type Strike price Put Call Account type Expiration month C 06 2012 O EDX 8 0000 C GBICCU C 09 2009 O EDX 57 0000 P SE0DHVI ER C 09 2009 O EDX 58 0000 C SEOCIMN ER C 09 2009 O EDX 60 0000 C US1CLY7 ER C 09 2009 O EDX 60 0000 P US1DC5 ER C 09 2009 O EDX 64 0000 C US1G629 ER C 03 2010 F EDX 0 0000 US1U P5 ER C 06 2010 F EDX 0 0000 USIWC ER The Filters flag allow s to enable disable all the filters set 10 30 September 2013 A single filter can be disabled
41. utton Configuration Edit Assignment date 9 7 09 Market RER SSU tea abi code 00992 v Filters ABI codel off v Symbol OFF w Account type OFF wv Strike OFF v Expiration month OFF w Put Call OFF w Subaccount Off wv Filters off Market ABIcode ISINcode Series name Symbol Accounttype Expiration month Assignment date Strike Clearing member Abi code ISIN Code ISIN Code Symbol Underlying alphanumeric code tO 56 30 September 2013 Expiration month Option expiration date Account Type Account type House Client Put Call Put Call Assignmentdate Assignment date 9 0 Report This menu displays the list of clearing reports provided by the clearing house w hich the client may view or save to the local computer 9 1 Report This command show s the list of the clearing reports available on a specified date Some reports are available in a multiple format so the user can select to dow nload themin TXT PDF or XML A GCM General Clearing Member can manage and dow nload also its NCM reports 57 30 September 2013 EDR Configuration Edit pate ash HERALT BARCLAYS NOMURA Description Variation Premium Margins 00000000000 MP10 Failed Position MP11 Expired Options MTO2 Options Exercised Assigned MT05 Net Positions of Option Contracts MT06 BCS Transfers MT12 Option Contracts MT14 Options transferred under g
42. xisting sub account 3 Customer Subaccounts changes displays the list of client codes assigned to a new sub account on current day the new associations client code sub account will be w orking fromthe follow ing day 17 30 September 2013 SubAccount list Configuration Edit Subaccount List Customer Subaccount links Customer Subaccount changes Market EDX EDX DERIVATIVES MARKET v Member 00992 v Account type v Downic Market Modif OMN 8 3 09 EDX 00992 TEST 8 25 09 8 24 09 EDX 00992 H OMN 8 3 09 ae EDX 00992 H INS 9 4 09 9 2 09 EDX 00992 H MM 8 1 3 09 8 1 3 09 eee Td Lc O O OO S y 30 September 2013 Customer SubAccount links The w indow with Customer Sub account links label allow s to display Sub Account client code associations The list of all existing sub accounts is automatically show n on the left side of the w indow displaying all Members referring to a specific Market Starting from sub accounts list itis possible to display on the right side of the w indow all Sub accounts client codes associations in tw o different ways e selecting whatever Sub Account among those displayed in the Sub Accountlist in this case the systemwill display only the associations corresponding to that specific Sub Account e pushing the Download All button in this case the associations corresponding to all Sub Accounts in the list
43. y Exercises Requests 53 30 September 2013 The Expiry exercises requests allow s to dow nload expiry exercises proposed by the clearing house Select market and clearing member then push the Dow nload button Expiry Exercises Requests Configuration Edit Market IDEM ITALIAN DERIVATIVES MARKET v Abi code 95000 bas Filters ABI codel OFF x Exercise type Off Symbol Off v Account type OfF v ITM OTM OFF v Strike OFF V Put Call OFF Sub account OFF Filters off Market ABI code Proposed quantity Requested quantity ISIN code Symbol Account type _ Expiration month strike Put Call DER cu a 6 17200000 05 2008 10 00 DER 96000 0 IT200000 C 05 2008_ 10 00 c DER 95000 ol o 1T200000 c 05 2008 11 00 DER 95000 100 100 IT200000 CPR cl 05 2008 11 00 Trading market Abicode of the company w hich has executed the exercise request Series identification code Option ISIN code Name of the series a PSR a In the money Out of the money Expiration Expiration month month Account Type House Client inal Sub account of the position associated to the operation Time exercise request has been forwarded Date exercise request has been forwarded 54 30 September 2013 Exercise type Exercise type P Proposed E Exception Available Available option quantity quantity Rejected Rejected option quantity quantity
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