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Cash Collateral

ECC only accept Euro as collateral. Regular overnight Initial Margin Calls will be carried out in Euro only. Intraday Margin Calls can be furnished in Euro or securities.

Type

Currency

Intraday Cut-Off Time

Cash Processing

Eligible for

DepositEUR

17:00 CET

Debit

08:00 CET (latest)

All Margin Requirements
ReleaseEUR09:30 CET

Credit

08:15 CET (about)

All Margin Requirements

Cash will be debited or credited by ECC to the cash accounts that Clearing Members have communicated to ECC as relevant cash settlement accounts. Interest is paid on cash that is deposited with ECC at 10 am CET with the collateral pool that holds the cash overnight.

Deposit

Cash collateral is automatically called overnight into the house collateral pool for house positions (if separate house collateral pool has been opened) and into the Standard Collateral Pool (GOS – General Omnibus Pool) for any other positions.  Cash from the Standard Collateral Pool (GOS – General Omnibus Pool) can be allocated to a specific pool (except the house pool) by instructing balance only booking. Such allocations can be made using the sample CSV file here until 11am CET on ECC business days.

Release

Releases of cash from the house collateral pool (if separate house collateral pool has been opened) or the Standard Collateral and the SOS Collateral Pool are made automatically overnight. Cash from the house pool can be released on request of the Clearing Member before the intraday cut-off time. Releases of cash from any other pool are requested as follows:

Action

House Pool

Standard Pool

SOS

OSA

ISA

Instruction of Release

CMCMCMCMCM
Approval of Releasen/an/an/aOSA Represen-tativeISA Client

Release maximum till

Margin Require- mentMargin Require- ment000

Shortfalls covered by

HouseGOSGOSGOSGOS

Release to

CM
TARGET2 Account

CM
TARGET2 Account

CM TARGET2 Account

CM TARGET2 Account

CM TARGET2 Account

Automatically Overnight Releases

YesYesYesNoNo

 

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