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Overview

ECC offers Straight-Through Processing (STP) of transactions registered at the Partner Exchanges by brokers. The STP service reduces operational risk and manual interaction for market participants. ECC provides a technical interface for submitting exchange registered trades for clearing.

Currently, the service is offered for all derivatives traded on EEX and all derivatives traded on the PEGAS platform operated by Powernext.

Several independent STP providers offer an electronic portal that can be used by brokers for trade registration. Additionally, trade acceptance of broker-registered trades by the final beneficiary can be automated at ECC (automatic confirmation).

Automatic Confirmation of Trades

The default setting for trade acceptance is “Always”, which means automatic confirmation of trades irrespective of execution style and confirmation status. The setting is consistent across all accepted brokers the trading participant has an agreement with announced through the Broker White List and adds further value to the registration chain as manual interactions are reduced. At any time, trading participants can deactivate the pre-set "Straight-Through Processing Automatic Confirmation" function entirely or partially by submitting the form "T08 Refinement or Deactivation of Default Settings."

Benefits

  • Straight Through Processing (STP) reduces the manual effort as it eliminates manual re-entry of trade details captured in the broker system as well as manual confirmation of trades in the clearing system.
  • Central counterparty clearing ensures security as an extra level of protection as the trades submitted through this channel are subject to the approved clearing processes of ECC.
  • Cross-Margining and cross-commodity will apply.