The current version of the ECC Clearing Conditions is valid for all Clearing and Non-Clearing Members of ECC. The Clearing Conditions contain rights and duties of all involved parties as well as specifications regarding legal relationships and liability.
The Clearing Conditions and all additional rules and regulations have to be accepted by applicants in order to become a member.
The so-called Close-Out Netting is a part of the ECC Clearing Conditions and governs the process in case of the insolvency of a Non-Clearing Member. ECC initiated a legal opinion to confirm the effectiveness of the close-out netting agreement.