As a Central Counterparty, ECC guarantees financial fulfilment and carries out cash clearing for all transactions concluded on ECC’s Partner Exchanges.
ECC co-operates with international banks as Clearing Members and Settlement Banks. For Euro settlement, the transfer is done via the robust and reliable TARGET2 infrastructure of ECB.
ECC has been approved as a designated payment system according to Article 10 of the Settlement Finality Directive 98/26/EC. Payments in foreign currencies are settled with the help of Clearstream Banking Luxemburg (Clearstream) as a private settlement agent.
ECC has a harmonised invoicing and fee settlement process across all of its products, markets and asset classes.
Services for Third Parties
ECC provides fee settlement for its Partner Exchanges. This means that ECC collects the fees on behalf of the exchanges from the participants via their Clearing or Settlement Bank. The invoices are issued by the Partner Exchanges themselves.