DCP Clearing Member is a Clearing Member that has a DCP clearing license and is exclusively entitled to clear own spot market transactions.

For the financial settlement of transactions the DCP Clearing Member has to open a settlement account at a Settlement Bank of his choice. The legal relationship between a DCP Clearing Member, ECC and the Settlement Bank is defined by the Clearing Conditions and the Settlement Bank Agreement (if applicable).

Admission by ECC constitutes a fundamental precondition for exchange trading for DCP CMs. It ensures that settlement, delivery and hedging of the transactions are secured by the clearing house.

The following requirements are necessary for admission by ECC:

• completion of a Know-Your-Customer (KYC) Questionnaire if requested by ECC and passing of the ECC KYC assessment or other applicable access policies of ECC
• completion of a corresponding Settlement Bank Agreement with a co-operating Settlement Bank and ECC (if applicable)
• approval as a Trading Participant for at least one ECC approved spot market where DCP Model is available
• the conclusion of a balance group agreement with the respective TSO, in case of physical delivery
• equity (incl. subscribed capital, capital reserves, retained income less any losses incurred in the course of the year and less intangible assets) of at least 50,000 Euros. Increases of the subscribed capital during a given year shall be proven by means of the submission of the registration message. A DCP can increase the equity by means of bank guarantees or guarantees of a parent company accepted by ECC.
• Contribution to the Clearing Fund

Furthermore only companies based in a country approved by ECC for DCP Clearing can be admitted.

^{1 Interested customers stated in a country which is not DCP eligible yet can contact directclearing@ecc.de for further information on status.}