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Core Service

Eurex STS provides market participants with an innovative solution to enable them to fulfill their regulatory obligations from the Settlement Discipline Regime under CSDR. The service will be offered to eligible counterparties (as defined by MiFID II) only.

If the settlement of a transaction fails, the receiving party of the transaction is obligated to appoint a Buy-in Agent to execute a Buy-in. In this process, the Buy-in Agent is a neutral third party and bound to act in the best interest of both the Client and the Failing Counterparty.

Clients of the Buy-in Agent can submit Buy-in requests to the system via a GUI or an API. The Buy-in Agent will conduct scheduled, automated auctions to source the securities from Network Partners and deliver the securities to the Client who initiated the Buy-in request.

In line with CSDR, service fees charged by the Buy-in Agent as well as potential price differences shall be borne by the Failing Counterparty in the original transaction.

Network Partners are registered with Eurex STS to provide liquidity during the scheduled auctions.