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WELCOME eGAINS Participants Transitioning to eGAINS Information Sessions

WELCOME eGAINS Participants Transitioning to eGAINS Information Sessions. Hosts: Futures Industry Association (FIA) Clearing Corporation (CCorp) Markit Group Participants: eGAINS Users (London, New York, Chicago). Presentation Schedule (via WebEx)

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WELCOME eGAINS Participants Transitioning to eGAINS Information Sessions

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  1. WELCOME eGAINS Participants Transitioning to eGAINS Information Sessions

  2. Hosts: Futures Industry Association (FIA) Clearing Corporation (CCorp) Markit Group Participants: eGAINS Users (London, New York, Chicago)

  3. Presentation Schedule (via WebEx) 3:30 – 4:30 p.m. (London time) Agreements: Transition EGUS to eGAINS (April 3, April 8) Trade Processing: Trade Flow, Layout, Reports (April 10, April 15) Banking: Billing Cycle and Money Flow (April 17, April 22) Iterations: Implementation Feedback and Enhancements (May 1)

  4. Session I. Agreements: Transition EGUS to eGAINS Purpose Transition and Validate EGUS Agreements and Rates to eGAINS. Fundamental Issue/Question How does EGUS talk to eGAINS?

  5. Session I. Agreements: Transition EGUS to eGAINS Agenda EGUS/eGAINS Agreement and Rate Uploads (FIA, Markit) Electronic Manual Participant Set-up Rate Verification One-to-One Link: Agreement/Account Number/Rate eGAINS Overview (FIA) Roles of System Providers Participating Exchanges Settlement Currency System Access

  6. Session I. Agreements: Transition EGUS to eGAINS Agenda Continued Data Mapping (CCorp) Learning Environment Access (CCorp) Testing Module (CCorp) Trade Load Auto Upload Manual Individualized Testing: Phases 1-3 (CCorp) Resource Links Contacts

  7. EGUS/eGAINS Agreement and Rate Uploads (FIA, Markit) Data contained in the EGUS agreement is the foundation for and is compatible with the eGAINS system. Mission-critical fields include: Agreement Number Rate and Effective Date Executing Broker Executing Account ID Clearing Broker Clearing Account ID Trader Customer

  8. EGUS/eGAINS Agreement and Rate Uploads (FIA, Markit) Continued Electronic Transfer from EGUS to eGAINS Electronic EGUS created agreements are auto-converted to eGAINS. The conversion is expected to be seamless and should require minimal intervention [if at all] from the EGUS or eGAINS user (the system administrator however must Enable Rate Data Feed via the Party Permissions page). To ensure proper data mapping, users should thoroughly test the system. Manual Addition to eGAINS Agreements in EGUS using PDF file for rate schedule will NOT convert to eGAINS. However with EGUS V2.2 you can now create an electronic rate schedule and attach to existing fully executed agreement (that currently has only a PDF rate schedule). The electronic rate schedule would then pass to eGAINS automatically.

  9. EGUS/eGAINS Agreement and Rate Uploads (FIA, Markit) Continued Participant IDs and Set-up FIA Tech is reviewing system parameters and documenting set-up considerations regarding multiple IDs based on region or exchange.

  10. EGUS/eGAINS Agreement and Rate Uploads (FIA, Markit) Continued Rate Verification CCorp has appointed key people to manage data conversion and posting from EGUS to eGAINS. Managing the conversion requires testing in advance of the launch – ensuring the data set-ups link to the exchange trade data and result in accurate calculations and report generation. Information regarding testing and verification processes shall be distributed to users in May.

  11. EGUS/eGAINS Agreement and Rate Uploads (FIA, Markit) Continued One-to-One Link: Agreement/Account Number/Rate EGUS rate tables allow participants to differentiate rate types. For example, a customer entering a trade electronically is typically charged less for the execution as compared to the firm entering the order on the customer’s behalf. EGUS rates include: Client Electronic Client Pit Desk Electronic Desk Pit Even though EGUS differentiates rate, exchanges may not distinguish between methods of execution or rates within account number. Therefore, discussions are on-going relative to capturing different rates for the same account.

  12. eGAINS Overview (FIA) Roles of System Providers FIA Technology Services The Clearing Corporation Markit Group FIA Tech is the administrator of eGAINS. That said, the process is a combination of effort between the participating exchanges, FIA Tech and Markit. Operationally, the exchanges electronically send daily trade data at the end of the trading day. Periodically the eGAINS application through the EGUS interface obtains and loads agreement/rates. The eGAINS application cross references the trades against EGUS agreements resulting in daily and month-end trade summaries and billing reports. At the end of the monthly billing cycle, FIA Tech facilitates pay/collects to participant banking accounts.

  13. eGAINS Overview (FIA) Continued Participating Exchanges Eurex ICE Europe NYSE Euronext (including Liffe Amsterdam, Brussels, Lisbon, London, Paris) At launch, eGAINS shall support cleared futures and options give-up transactions executed on Eurex, ICE, and Liffe. Settlement Currency EUR GBP USD

  14. eGAINS Overview (FIA) Continued System Access eGAINS Processing Agreement covers: Description of pay and collects Consequences for debit failures Float payment system Exchange permission Banking information Administrator details System User Agreement Terms and conditions of using the system

  15. eGAINS Overview (FIA) Continued Exhibit Review Exhibit A – Payment Schedule Exhibit B – Form of Customer Consent Exhibit C – Account Information

  16. Data Mapping (CCorp) CCorp in conjunction with the FIA linked critical fields from EGUS to eGAINS. The fields and layout characteristics include: Agreement Number Exchange Product Rate Currency Type Executing Broker Executing Broker Account Number Clearing Broker Clearing Broker Account Number

  17. Learning Environment Access (CCorp) The Learning Environment is CCorp’s proprietary testing system. It allows users to establish executing and clearing broker account numbers, products, rates, currency type(s), and input test trade data. The Learning Environment attempts to mirror the eGAINS production environment and gives user’s the ability to peruse the system and test it’s functionality.

  18. Testing Module (CCorp) Trade Load – Auto and Manual Within the Learning Environment, CCorp allows users to manually enter test trade data or input data into an Excel spreadsheet for system upload. The spreadsheet file is available upon request. Please contact Marc MacQuarrie or James Woods. Individualized In preparation for eGAINS launch, CCorp has dedicated resources to coordinate user testing. Since requirements often differ between users and firms, one-on-one attention shall be given to assist firms with using the Learning Environment (i.e. obtaining system access, loading agreements, verifying rates, entering test trade data). Please coordinate your testing needs and requirements through CCorp’s Marc MacQuarrie and James Woods.

  19. Testing Phases 1-3 (CCorp) Due to the complexities of back office requirements and the integration of EGUS and eGAINS, firm testing will proceed in three phases. Separating the testing effort into distinct phases allows for a structured validation of function and process: Phase I, Rate Confirmation Firms identify the rates they will enter into EGUS Firms identify the rates they must enter into eGAINS direct Firms enter rate into EGUS and eGAINS Firms confirm rates in eGAINS via web pages and reports (define report types; security access – view only and full capability; error notification)

  20. Testing Phases 1-3 (CCorp) Continued Phase II, Give-Up Processing Firms specify give-up trades to be processed according to rates in Phase I Firms enter trades into eGAINS Firms supply trade files to CCorp for loading into eGAINS Exchanges submit trade files to CCorp for processing Firms verify rate match/calculations through web pages, reports, end-of-day data files Phase III, Monthly Adjustments Firms enter adjustments through eGAINS pages Firms confirm adjustments through eGAINS batch cycles Firms confirm debit/credits through reports

  21. Resource Links Information, agreements, links and resources will be distributed when complete. These include: Legal Agreement links Timelines Frequently Asked Questions (FAQs) Learning Environment link Spreadsheet for test trade submissions

  22. Contacts FIA Tech Robert Drew, Consultant, (b) 07812991191, rdrew@futuresindustry.org David Adam, Consultant, (b) 312.786.3821, dadam@futuresindustry.org Krystal Atha, Relations Manager, (b) 202.466.5460, katha@futuresindustry.org David Wilson, Technology Project Manager, (b) 202.466.5460, dwilson@futuresindustry.org Mary Ann Burns, Executive Vice President Industry Relations, (b) 202.466.5460, maburns@futuresindustry.org CCorp Marc MacQuarrie, Client Services and Support, (b) 312.786.5732, marc.macquarrie@clearingcorp.com James Woods, Vice President, Production Management Group, (b) 312.786.5715, james.woods@clearingcorp.com Markit Tony Murljacic, Director, Head of Trade Processing Connectivity, (b) 914.872.2905, tony.murljacic@markit.com

  23. Thank You for Attending

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